Top 50 Indie MPK Garages has slashed cash loss and increased payment efficiency after working with the cash-handling solutions business Volumatic.
After partnering with Volumatic, and rolling out its CCi (CounterCache intelligent) across its entire estate, MPK has been able to cut cash loss by 96%.
CCi (CounterCache intelligent) is a one-touch cash solution, which checks, counts and stores banknotes at the point of sale.
Wayne Harrand, retail director at MPK Garages, explained: “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.”
In addition to reducing risk of theft, CCi removes the need for staff to check for forged note, as it 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. Harrand added: “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.”
He said CCi had 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.”
Mike Severs, sales and 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 has 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.”
No comments yet