Implementing this new technology will dramatically reduce time spent managing cash

9th February 2016
by Stephen Gill
CEO & CTO, VME Retail

What is this new technology?

Its a physical cash drawer that counts your cash for you automatically, called a SMARTtill, from Cash bases.

Smarttill working with VME's IntelliStore epos system

It works with IntelliStore?

We're just completing final testing on our integration, and it will be available (free of charge) for all of our customers in the next release.

So why do I need this?

We first saw this at the Toshiba conference last year, and realised immediately we needed to integrate with IntelliStore.

Some of the benefits that attracted us:

- Eliminating till cash reconciliation in the backoffice
- No need to close the checkout for reconciliation
- Identify when cash lifts and floats will be required
- A major deterrent against theft
- Alert staff when customers have been given too much or too little change

Eliminating till cash reconciliation in the backoffice

Reconciling cash in the backoffice is time consuming

SMARTtill counts the coins and cash in each drawer, meaning it knows how much is in the drawer at all times. It does this through its technology, based on weights.

This removes the requirement for someone in the backoffice to sit for hours counting the contents of a cash drawer. It also means there is no need to issue a few float in the morning.

No need to close the checkout for reconciliation

In the old days, if you needed to check the balance of a till you needed to close the till and take the cash drawer into the back office for counting.

Some retailers introduced extra spare cash drawers allowing them to swap drawers, meaning the till still trades but you have the capital cost of these extra drawers to consider, as well as the maintenance costs.

SMARTtill removes this requirement immediately, saving you money because you don't need spare drawers and can ensure your tills are trading 100% of the time you are open.

Identify when cash lifts and floats will be required

Waiting for an additional float to arrive becomes a thing of the past

As SMARTtill knows how much of each coin and note is in the drawer, it can see clearly when you are running low. This allows the supervisor or manager to arrange for exactly what cash is required - perhaps you're only low on 20p pieces while you £1 insert is fine.

Equally if you have too much cash, it can alert the supervisor or manager to do a cashlift, and tell them exactly how much to remove - for example, remove 50 £10 notes and 25 £20 notes.

A major deterrent against theft

Once your operators realise the till knows exactly how much cash is in their till, they see clearly how impossible it is to cheat the system.

If they pocket any change, or even give extra change to a 'friend', the system knows as soon as they've closed the drawer, alerting supervisors as well as the cashier themselves.

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