Posted 11 June, 2021 at 12:45
Volumatic, the foremost manufacturer and cash handling solutions business, has helped leading independent forecourt group MPK Garages cut cash loss and increase payment efficiency.
MPK Garages has partnered with Volumatic to help streamline cash handling and increase operational efficiency, and the results achieved have transformed the business on every level and cut cash loss by a game-changing 96%.
MPK Garages last month completed the rollout of their entire estate. CCi (CounterCache intelligent) is a one-touch cash solution; it checks, counts and safely stores banknotes as the point of sale. Not only does it minimise cash contact for safety, but it also helps to create a closed-cash loop, as Wayne Harrand, Retail Director at MPK Garages, explains: “Volumatic’s CCi has really made transactions much easier in our sites thanks to its one-touch element. At the point of sale, once we have deposited the cash, we don’t touch it again; only the bank does during processing. We love that cash exposure in our stores is minimised to just the customer transaction.”
One of the significant benefits of the CCi cash solution is that it limits access to cash. This safe, tamper-evident storage allows store staff to focus on customer service. At the same time, convenience stores have peace of mind that the risk of theft is reduced, and staff are not responsible for scrupulous forgery checks. Instead, the CCi does the forgery checks, aligned with the Bank of England forgery framework.
Cash is still a prominent payment choice for MPK Garages with more than 60% of all transactions made in cash. Eliminating these cash risks and reducing cash accessibility has had a profound effect on MPK Garages. Harrand adds: “We removed all cash risks from the business. So much so, in the last six months, we have reduced cash loss by 96% across our whole estate. In terms of theft of cash, we have saved so much money as access to cash is so limited.”
As convenience stores and forecourt sites look to increase colleague safety while also increasing cash efficiency, cash handling technologies in-store can be transformative. As well as cutting cash loss across the MPK estate, CCi has also significantly helped the business during the pandemic. “The CCi has absolutely been a benefit during Covid with total visibility and control. At the height of the pandemic, we had failed collections due to restraints, so the CCi gave us an extra level of security. Colleagues feel much safer as their contact with cash is reduced and reduces the risk of theft,” said Harrand.
Mike Severs, Sales & Marketing Director, at Volumatic said: “MPK Garages strong focus on growth and operational efficiencies has been greatly helped by ensuring they have a clear cash position. Utilising our CCi alongside their CashView Enterprise software means that MPK Garages have complete cash visibility, essential for cash flow and for analysing cash within the business.
“Our goal is to deliver intelligent cash handling products that increase convenience stores’ profits through improved process efficiency, enhanced security and reduced theft. We are seeing a huge increase in the number of convenience stores using CCi to improve efficiency of how they handle cash. CCi saves time and saves money and it enhances security because it is in a security deposit device at the till point. If an independent convenience business is serious about reducing cash loss and wants to grow efficiencies, they should be looking at CCi as an option.”
The CCi (CounterCache intelligent) from Volumatic is the most successful global intelligent deposit system with over 35,000 units installed and 10,000 lanes scheduled for this year.