Welcome!

News Feed Item

Cummins Allison Explains How Technology Can Enhance the Retail Customer Experience While Boosting Efficiency and Profitability

Competition among today’s retailers to differentiate themselves against others and increase profits is fierce. The role of the retail store is changing. Consumers want convenient, fast interactions, and retailers need streamlined ways to improve efficiency and increase the bottom line.

Cummins Allison, leading innovator of coin, currency and check processing technology as well as ATM solutions, explains how, from transactions at the checkout to cash-office operations, retailers can leverage technology to address customer demands and meet internal business requirements.

Automation Improves Cash-Office Processes

Sorting and cash-handling technologies, like back-office cash management systems, can help stores effectively deal with processes that, when done manually, create bottlenecks and errors, not to mention unhappy employees.

Implementing a back-office cash management system can help retailers in a number of ways, including:

  • Gaining a better handle on preparing tills for the next day or shift change
  • Counting and balancing cash drawer tills quickly and efficiently
  • Accurately verifying register sales against payments received
  • High-speed coin sorting, hassle-free bank deposits and more

This technology reduces the redundancies and risks that can occur from counting by hand, and such technology lessens the possibility of human error for more efficient, timelier processing and ultimately cost savings.

Enhance the Customer Experience through Self-Service Options

Self-service checkouts are on the rise and provide another avenue for retailers to realize efficiency gains. According to the Global EPOS and Self-Checkout 2013 study from London-based research firm RBR, the number of self-checkout terminal shipments will soar to 60,000 by 2018. In 2012, that number was only 27,000.

Self-service checkout technology can positively impact both the consumer’s experience and the store’s bottom line. For instance, today’s self-checkout terminals accept both mixed bills and coins as payment, making it easy for the consumer. When the self-checkout unit is processed, retailers rely on high-speed currency scanners and coin sorters to quickly denominate, count and sort the large amounts of mixed currency and coin and prepare the money for deposit or to reset the self-checkout machine.

In addition, retailers can save on labor costs, both in terms of currency handling as well as their staff-to-customer ratio – more customers can be helped by fewer employees by leveraging self-service terminals. Another significant benefit is the greater convenience offered to consumers – they can come in, get what they need and check out in a timelier manner.

Leverage Technology to Impact Overall Profitability

Retailers who take advantage of unique technologies to leverage process improvements in today’s fast-paced environment can help improve their bottom line.

In addition to cash-office technology and self-service kiosks, this could also mean utilizing cash-handling technologies at the front register to shave time off counting and sorting, while reducing balance errors. Or it could mean combining cash counting and check scanning capabilities on one device to streamline deposits for faster access to needed funds. Even something as simple as using technology to count and roll loose coin into tubes for use in cash drawers, instead of purchasing rolled coin, can help significantly reduce expenditures in the long run.

Today’s data-driven, instant-access marketplace puts retailers under pressure to improve efficiency at every opportunity. For more information on how strategically leveraged automation technologies can help elevate accuracy and customer engagement and better position retailers to differentiate themselves from their competition visit www.cumminsallison.com.

About Cummins Allison

Cummins Allison is a global leader in developing solutions that quickly and efficiently count, sort and authenticate currency, checks and coin. We also offer a complete line of full-function automated teller machines (ATMs). Our leadership in technology and product innovation spans more than 125 years. Cummins Allison serves the majority of financial institutions worldwide, as well as leading organizations in retail, gaming, law enforcement and government. Ninety-seven percent of our customers would recommend our products and services. The company holds more than 350 patents and invests double the industry average in R&D. Our world-class sales and service network includes hundreds of local representatives in more than 50 offices in North America, wholly-owned subsidiaries in Canada, the United Kingdom, Germany, France, Ireland and Australia and is represented in more than 70 countries around the world. For more information, visit www.cumminsallison.com.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Agile has finally jumped the technology shark, expanding outside the software world. Enterprises are now increasingly adopting Agile practices across their organizations in order to successfully navigate the disruptive waters that threaten to drown them. In our quest for establishing change as a core competency in our organizations, this business-centric notion of Agile is an essential component of Agile Digital Transformation. In the years since the publication of the Agile Manifesto, the conn...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory?
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain.
The Internet giants are fully embracing AI. All the services they offer to their customers are aimed at drawing a map of the world with the data they get. The AIs from these companies are used to build disruptive approaches that cannot be used by established enterprises, which are threatened by these disruptions. However, most leaders underestimate the effect this will have on their businesses. In his session at 21st Cloud Expo, Rene Buest, Director Market Research & Technology Evangelism at Ara...
WebRTC is great technology to build your own communication tools. It will be even more exciting experience it with advanced devices, such as a 360 Camera, 360 microphone, and a depth sensor camera. In his session at @ThingsExpo, Masashi Ganeko, a manager at INFOCOM Corporation, will introduce two experimental projects from his team and what they learned from them. "Shotoku Tamago" uses the robot audition software HARK to track speakers in 360 video of a remote party. "Virtual Teleport" uses a mu...
Trying to improve density, lower costs and run applications faster than before? Today, enterprises looking for a secure cloud strategy are increasingly turning to container-based Platform as a Service solutions for on-premises hosted DevOps. In her session at 21st Cloud Expo, Alise Cashman Spence, Offering Manager, Power Systems Cloud Solutions at IBM, will discuss the driving factors behind these cloud trends and how IBM customers are realizing exceptional performance, security and control for ...
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
"When we talk about cloud without compromise what we're talking about is that when people think about 'I need the flexibility of the cloud' - it's the ability to create applications and run them in a cloud environment that's far more flexible,” explained Matthew Finnie, CTO of Interoute, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
SYS-CON Events announced today that SourceForge has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. SourceForge is the largest, most trusted destination for Open Source Software development, collaboration, discovery and download on the web serving over 32 million viewers, 150 million downloads and over 460,000 active development projects each and every month.
"NetApp's vision is how we help organizations manage data - delivering the right data in the right place, in the right time, to the people who need it, and doing it agnostic to what the platform is," explained Josh Atwell, Developer Advocate for NetApp, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
What You Need to Know You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technolog...
SYS-CON Events announced today that DXWorldExpo has been named “Global Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Digital Transformation is the key issue driving the global enterprise IT business. Digital Transformation is most prominent among Global 2000 enterprises and government institutions.
One of the biggest challenges with adopting a DevOps mentality is: new applications are easily adapted to cloud-native, microservice-based, or containerized architectures - they can be built for them - but old applications need complex refactoring. On the other hand, these new technologies can require relearning or adapting new, oftentimes more complex, methodologies and tools to be ready for production. In his general session at @DevOpsSummit at 20th Cloud Expo, Chris Brown, Solutions Marketi...
SYS-CON Events announced today that Nihon Micron will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Nihon Micron Co., Ltd. strives for technological innovation to establish high-density, high-precision processing technology for providing printed circuit board and metal mount RFID tags used for communication devices. For more inf...