Steve is the Head of Finance for a High Profile, International Food, Retail, Facilities and Property Management Company. He contacted Money Point because he needed to reduce the amount of time they were spending manually counting and checking their cash.
It was taking Louise, Steve’s colleague, up to 4.5 hours per week to manually count their takings, as well as another 2.5 hours per week to manually count and batch cash for their floats.
They were then spending roughly the same amount of time on rechecks and re-counts.
Depending on their takings, that was a potential total of 14 hours each week counting, re-counting and sorting cash by hand.
“We had reached a point where it had become critical to find a solution that would reduce the amount of time we were spending on these tasks!”
Steve’s internal cash handling processes were already streamlined and strong.
He just needed a way to save time on the counting and re-counting. As Head of Finance, he also needed a solution that would give them a fast return on investment.
Their existing desktop coin counter & sorter was covering the coin counting side of things well. Most of the time that was being spent on cash involved counting, sorting, checking and re-counting banknotes.
Money Point recommended that Steve purchase a Julong 206V Banknote Counter.
With a speed of 1,400 notes per minute, it is capable of authentication, value counting and denomination sorting for Euro banknotes. It is ECB compliant for authentication and uses imaging, thermal display, infrared, ultra violet and magnetic ink for authetication. It also has the facility to capture banknote serial numbers and it is one of the most compact desktop banknote sorters available.
Most importantly it is user friendly and quick to set up and start using.
Almost immediately, Louise’s count times dropped from 7 hours a week to 1.5 hours a week and the counts no longer needed to be double-checked. This was a time saving of 12.5 hours per week.
Louise can also use the Julong 206V to batch cash for their floats and they now have the facility to accurately authenticate banknotes, giving them a higher level of protection against counterfeits.
In addition to this, a large chunk of both Steve and Louise’s time each week has also been freed up, allowing them more time to concentrate on other tasks.
“Since purchasing the Julong 206V we could instantly see huge time savings. Money Point provided us with exactly what we needed and to top it all off, our return of investment was less than 20 weeks!”