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
As enterprise cloud becomes the norm, businesses and government programs must address compounded regulatory compliance related to data privacy and information protection. The most recent, Controlled Unclassified Information and the EU’s GDPR have board level implications and companies still struggle with demonstrating due diligence. Developers and DevOps leaders, as part of the pre-planning process and the associated supply chain, could benefit from updating their code libraries and design by in...
"Peak 10 is a hybrid infrastructure provider across the nation. We are in the thick of things when it comes to hybrid IT," explained Michael Fuhrman, Chief Technology Officer at Peak 10, 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 Calligo, an innovative cloud service provider offering mid-sized companies the highest levels of data privacy and security, has been named "Bronze 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. Calligo offers unparalleled application performance guarantees, commercial flexibility and a personalised support service from its globally located cloud plat...
"We are an IT services solution provider and we sell software to support those solutions. Our focus and key areas are around security, enterprise monitoring, and continuous delivery optimization," noted John Balsavage, President of A&I Solutions, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We were founded in 2003 and the way we were founded was about good backup and good disaster recovery for our clients, and for the last 20 years we've been pretty consistent with that," noted Marc Malafronte, Territory Manager at StorageCraft, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
There is a huge demand for responsive, real-time mobile and web experiences, but current architectural patterns do not easily accommodate applications that respond to events in real time. Common solutions using message queues or HTTP long-polling quickly lead to resiliency, scalability and development velocity challenges. In his session at 21st Cloud Expo, Ryland Degnan, a Senior Software Engineer on the Netflix Edge Platform team, will discuss how by leveraging a reactive stream-based protocol,...
"We are focused on SAP running in the clouds, to make this super easy because we believe in the tremendous value of those powerful worlds - SAP and the cloud," explained Frank Stienhans, CTO of Ocean9, Inc., in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"DivvyCloud as a company set out to help customers automate solutions to the most common cloud problems," noted Jeremy Snyder, VP of Business Development at DivvyCloud, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"At the keynote this morning we spoke about the value proposition of Nutanix, of having a DevOps culture and a mindset, and the business outcomes of achieving agility and scale, which everybody here is trying to accomplish," noted Mark Lavi, DevOps Solution Architect at Nutanix, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
DevOps at Cloud Expo, 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 widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to w...
"As we've gone out into the public cloud we've seen that over time we may have lost a few things - we've lost control, we've given up cost to a certain extent, and then security, flexibility," explained Steve Conner, VP of Sales at Cloudistics,in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
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...
"The Striim platform is a full end-to-end streaming integration and analytics platform that is middleware that covers a lot of different use cases," explained Steve Wilkes, Founder and CTO at Striim, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We want to show that our solution is far less expensive with a much better total cost of ownership so we announced several key features. One is called geo-distributed erasure coding, another is support for KVM and we introduced a new capability called Multi-Part," explained Tim Desai, Senior Product Marketing Manager at Hitachi Data Systems, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We provide IoT solutions. We provide the most compatible solutions for many applications. Our solutions are industry agnostic and also protocol agnostic," explained Richard Han, Head of Sales and Marketing and Engineering at Systena America, in this SYS-CON.tv interview at @ThingsExpo, held June 6-8, 2017, at the Javits Center in New York City, NY.