1 / 12

Retailers: Are Smart Safes a Bright Idea?

Retailers: Are Smart Safes a Bright Idea?. Introductions. Tim Smith Corporate Controller Binny’s Beverage Depot. William Burback Vice President Global Treasury Management U.S. Bank. James Poteet Senior Vice President Business Solutions Brink’s U.S. Binny’s Beverage Depot.

oihane
Download Presentation

Retailers: Are Smart Safes a Bright Idea?

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Retailers: Are Smart Safes a Bright Idea?

  2. Introductions Tim Smith Corporate Controller Binny’s Beverage Depot William Burback Vice President Global Treasury Management U.S. Bank James Poteet Senior Vice President Business Solutions Brink’s U.S.

  3. Binny’s Beverage Depot • Upscale wine and liquor store with selection of 50,000+ items • 28 locations throughout Chicago area • 800 employees • 2011 revenue of $250 million

  4. Binny’s Pre-Smart Safe Process

  5. Reduce Cash Supply Chain Costs Source: Brink’s proprietary customer research

  6. Binny’s Desired Outcomes • Get manager back to managing the business • Eliminate the risk of multiple cash touch points • Improve employee safety and enhance overall risk management • Improve information visibility & quicker cashier balancing • Improve banking relationships through efficiency

  7. Measurement Against Desired Outcomes

  8. Market Solutions Available to Address the Funds Timing Gap • Remote Deposit Capture (RDC) • On-Site Electronic Deposit – enables customers to deposit checks electronically from the convenience of their office using a PC and a desktop scanner • Checks may be processed as an image check deposit or converted to ACH • Customers are able to make deposits as soon as they are received, eliminating desk float and the need to transport checks to the bank • ACH processing allows customers to further maximize funds availability • Remote Currency Capture (RCC) • Remote Cash Deposit – Armored car smart safe solution with daily credit to bank • Cash deposits are electronically posted to the bank on a daily basis, resulting in better availability of collected funds • Faster availability of cash deposits makes reconciling more efficient

  9. How Does Daily Credit Work With a Smart Safe Solution?

  10. Added Benefit to Binny’s • Better availability for validated cash and imaged checks • More efficient/timely corporate reconciliation process • Better deposit tracking enabling proactive funds monitoring

  11. Why Do Customers Use a Smart Safe?

  12. Questions and Answers

More Related