Case Study - Logistics Company

Tara is the Purchasing Manager for a leading Irish Logistics Company with a cash on delivery facility, which accounts for 60% of their turnover.

The Problem

Tara needed a business wide review of their cash handling processes and a cost benefit analysis for a complete back office solution which would save time, reduce risk and improve visibility.

Tara is responsible for the cash handling processes of 15 van drivers, a depot manager and their cash office staff.

A considerable amount of time was being spent manually counting and batching floats on a daily basis. The depot manager was responsible for signing in and out floats on a daily basis which was extremely time consuming.

The cash office supervisor and two staff were then spending 3-4 hours per day retrieving, counting and sorting the cash in preparation for their daily CIT collection. It was also their responsibility to re-count if any errors were found and follow up with the individual van drivers. They would then spend an additional 2 hours batching the floats for the following day.

“The potential security risk, especially when the cash was being retrieved from our main safe was becoming increasingly worrisome. There were a lot of people touching the cash and no real accountability. Something needed to change but we didn’t know where to start.”

What We Recommended

The Money Point team spent a full day on site with Tara observing all of their cash handling processes from start to finish. Tara provided some additional information on the businesses labour costs, CIT costs and budget considerations enabling the team to create a bespoke proposal for a complete back office solution, which would address all of Tara’s concerns as well as a few less obvious issues.

The Arca Cash Eco System, a combined note and coin recycling solution consisting of a linked CC3R coin recycling machine and CM18B note recycling machine, was recommended.

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The Solution

This solution offers comprehensive reporting which gives Tara a full audit trail for all coin and banknote deposits and withdrawals by user, from each of the machines.

Daily manual float allocation and depositing can be eliminated, allowing the 15 van drivers to collect their floats directly from the machines in the mornings and deposit their takings back in at the end of the day. No counting is required by the drivers or depot manager and the security risk is considerably reduced. A unique receipt with a specific user ID is issued to each driver for each deposit.

Counting and checking by the cash office staff is completely eliminated and CIT collections can be reduced from daily to once a week. The CIT company can also collect the packaged cash directly from the machines, by using their own unique log in.

Tara and the depot manager can access cash balance reports at the end of each day so that they have full visibility on all transactions. Counting errors are a thing of the past along with the time spent following them up.

The need to transfer large amounts of cash from the main safe to the cash office is negated, along with the risk. The Arca Cash Eco System can store all of the cash takings in a completely secure environment until collected by the CIT company.

  • Door Safe/Time locked – Dual (two people) user codes and time lock features.
  • Seismic Sensor – The seismic alarm sensor reacts to seismic signals and vibrations.
  • Panic Button Feature – If the panic button is pressed in the event of a security breach the unit will lock itself and no withdrawals will be possible.
  • UL291/CEN III– Rated safe for insurance purposes.

 Additional benefits of this solution include allowing the machines to be used to provide change, lodging or withdrawing cash independently and automatic counterfeit detection and value transaction control – the facility to set a minimum deposit / maximum withdrawal value for each user.

This solution also provides peace of mind for employees, improves staff morale and frees up time to spend on customer facing or revenue generating activities.

Most importantly, the return on investment for the business is less than 2 years so this is a solution that makes sense on every level.

"Using Money Point's CashMan™ software has made our end-of-period billing faster and more accurate. Costing client work has also been simplified."

Joe, Corporate Account Manager, Consultancy Firm

"Preparing deposits to go to the cash centre is so much quicker with CashMan™ software. The amount of queries and errors has reduced dramatically."

Helen, Bank Branch Manager

"We trebled the volume of cash being processed by introducing CashMan™ software and linking all of our note sorting machines."

James, Head of Cash Services, Leisure Sector