According to the survey conducted by G4S Cash Solutions, the leading provider of cash services related to cash manipulation, businesses spend over 1 % of their turnover on cash control and management. In the case of big retail chains the annual takings of which amount to tens of billions of crowns the costs of cash management can thus reach hundreds of millions. Bank fees and the transportation of cash and valuables (CIT), however, represent only 15 % of cash management, the remaining costs, such as management for cash handling or cashiers or control processes, are borne by businesses. Cash is usually counted 4–9 times. G4S helps businesses to reduce the time and costs spent on cash managements by means of a unique CASH360 solution for comprehensive cash management.
“The existing cash management processes in the area of retail are demanding in terms of work force, show considerable losses, have not significantly changed for several years, are demanding in terms of administration and enable tempering with cash. It is the reason why we offer our unique CASH360 solution which will bring them lower costs of cash management, higher security and the reduction of losses, simplified operating procedures and optimized cash circulation,” says Lenka Nováková, Business Development Director G4S Czech Republic.
G4S has already installed 600 comprehensive solutions worldwide which are used in e.g. Great Britain, Netherlands, South Africa, Greece, Ireland, Finland, Sweden or Canada. The solution has proved itself suitable in a number of businesses in different lines of business, such as in banks, retail chains, petrol stations, hotels, restaurants or transportation and logistics companies. Specifically, for example in Great Britain the clients of the company include Marks & Spencer, Tesco or T.G.I. Friday's, in the Netherlands it is then the network of petrol stations Shell, or the Lidl chain in Germany.
In the Czech Republic the clients include e.g. parcel transportation companies GLS or DPD. The service includes the collection of cash deliveries collected from deposit terminals based on the regular schedule and according to automatized notifications sent by the terminal. For both the providers of delivery services also remote control of the terminal and monitoring of operation is provided.
“Since the very first day of its installation CASH360 solution has brought considerable increase in cash processing security and more straightforward procedures which required after a courier returns from a trip. As the service is provided for a monthly fee no initial investments were needed. Moreover, we have continual information about the state of cash, better control over non-matching bank notes and the guarantee by G4S of the value of the cash deposited into the deposit terminal,” says Rostislav Dulínek, GLS financial director.
“Since we have started using the CASH360 solution, the security during cash processing has significantly increased and the procedures required after the return of a courier from a trip has been made more straightforward. In addition, we can comfortably monitor the state of cash and we can check that the banknotes are all right and they are not counterfeit. G4S also guarantees the value of the cash which is deposited in to the deposit terminal”, adds Miloš Malaník, CEO of DPD.