We spoke with Aaron, the Financial Controller of a 5* Hotel in Ireland.
We worked with a hotel who have 32 cash floats in their cash office, which is manned by one person, the financial controller. These floats are divided into two sections over the course of the day. 15 cash drawers are used for the start of day shifts, 15 for the end of day shifts and two cash drawers remain in the cash office as backups. At the end of a shift, each assigned teller counts their own float manually by hand, taking an average of 20 minutes per teller.
"Our tellers spend on average 30 minutes queueing and manually counting their till, that's over 50 hours a week."
What We Knew
This hotel had already identified their problem and was aware of time lost before approaching us. We know they operate a minimum of 15 cash drawers at any given time of the day. At the end of a shift, the assigned teller balances their own till in the cash office by hand, taking an average of 20 minutes. Due to the size of the cash office, only 5 tellers have access at a time. Over 67% of the tellers are left waiting to enter the office. This process adds an additional 20 to 40 minutes on top of each teller's work day. On top of this, with such a small cash office holding large volumes of cash, this hotel recognised they also had a security issue. The traffic rate of staff coming in and out made it difficult for the financial controller to monitor everything, leaving the hotel at risk of cash shrinkage, possible employee theft and potential robberies.
"Money Point are a niche player. What they offer is what they're going to deliver. They have a good idea of the marketplace. They know what's going on. Even at a higher level, they have a good idea of the possible direction we would be considering. They know our business. They don't go down blind alleys."
This hotel needed a solution that would eliminate manual cash counting and queuing times. With such a high volume of staff coming in and out of the cash office, the financial controller needed a system that would automate their whole cash-handling procedure. Through trial and error, we introduced the CM18 Teller Cash Recycling machine and CSD8 Coin Recycling System. These machines eliminate long queue times by allowing each teller to enter an assigned account number, drop their tills in for processing and within a few minutes, have a freshly balanced float ready for their next shift. The CM18 and CSD8 also offer a security solution for the hotel. Each machine acts as a safe, eliminating the risk of theft, counterfeit notes and human error.
"You feel a part of money point, you get the personal touch. They're always there. They are responsive, appreciative of the business, concerned and always coming up with ideas."