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Cash management and handling system proves popular with retailers

G4S Secure Solutions (UK And Ireland) : 22 October, 2009  (New Product)
After successful trials in UK retail chains, CASH360 from G4S is now enjoying significant uptake to make cash management easier and more secure in retail environments
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G4S Cash Services (G4S) has seen significant interest from retailers in CASH360, its new suite of retail cash management solutions, as they seek ways to minimise shrinkage and improve back office efficiency. With cash still the dominant means of payment, retailers are looking for ways to streamline their in-store management of cash and increase security levels.

Following the successful completion of a one year trial of CASH360 with Marks & Spencer earlier this year, G4S is now in serious discussions with a number of leading retailers with several additional pilots underway. With M&S speaking as part of G4S' delegate session at the recent BRC Crime and Loss Prevention Conference, the concept of CASH360 sparked significant interest among a number of leading retail security professionals

CASH360 is the first and only end-to-end cash management system for retailers and consists of in-store technology which automates cash processes and is fully integrated with G4S' own software. This, in turn, can be linked with a retailer's own in-store devices in order to deliver real-time insight into cash positions and to provide analysis of the cash inventory at every level.

Speaking at the BRC Annual Retail Crime and Loss Prevention Conference, Alistair Fowler-Marson, Head of Retail Development, G4S Cash Solutions said, "CASH360 provides retailers with greater visibility of what's happening with their cash so that they can control it more efficiently and effectively. This added visibility enables better float management and reduces in-store cash handling which, in turn, ensures greater security.

"Following our successful trial with Marks & Spencer we are in discussions with a number of leading UK and European retailers about our suite of CASH360 solutions."

David Kightley, Head of Shrinkage, Marks & Spencer said, "When we started speaking to G4S we were looking for a cash management system which would reduce the amount of in-store cash handling and processing and make the whole system more efficient.

"CASH360 provides us with a view of losses by till, by day with no extra staffing cost. Our one year trial of CASH360 surpassed all expectations and resulted in a significant reduction in till losses and greater security. We are now rolling out the system to our ten most high risk stores across the South-East of England."

CASH360C is a cash office based solution which automates the management of tills by counting and recycling coins and notes. Tills are counted (counterfeit cash removed) and securely re-floated which produces an automated bank deposit for G4S to collect. As well as providing an earlier point of settlement with the bank, the cash management data can be transmitted to the retailer's central accounting centre to provide greater visibility for head office as well as the individual outlet.

CASH360T is a till-based cash security solution ideally suited to high-risk outlets in remote locations such as petrol stations. This system automates the deposit and dispensing of notes and coins and increases security at the point of sale, which in turn reduces the risk of robberies by eliminating opportunities for theft, as well as freeing up staff to add value to the business elsewhere.

Users of the CASH360 system have the support of a 24/7 help desk with the ability to remotely manage devices to resolve issues and provide the latest updates, backed-up by an experienced team of ATM engineers.

As a trusted partner to the world's leading retailers and banks, providing cash management, transportation and processing, G4S has harnessed its global expertise in cash management to develop this fully automated retail cash management solution which can help reduce retail losses in a challenging economic environment.
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