Top 10 Solution Providers 2017 – Retail CIO Outlook

Girl is taking out a banknote of fifty euros from brown leather wallet on the street. Hands, money and wallet close-up

APG Cash Drawer was selected as a Top 10 POS Solution Provider for 2017 in The Retail CIO Outlook magazine.  The selection panel, comprising of CEOs, CIOs, VCs, and analysts including Retail CIO Outlook Magazine editorial board, chose vendors based on core competency, product and service offerings, innovations and market reach. Other top solution providers included were, 99MerchantAccount, Appetize Technology, CrossCom, Impulsify, LivePOS, retailcloud, Semnox Solution, Springboard Retail and Toast. To see the full article, click here.

Although we are being led to believe the world is moving towards a cashless era, a good 30-40 percent of retail transactions today continue to be cash based. With cash, comes the question of managing the cash. In the current scenario of escalating labor rates and diminishing labor pool, maintaining cash is a tedious task. Counting the cash alone takes up a substantial amount of time. Stephen Bergeron, V.P. of Global Marketing at APG Cash Drawer, recalls an incident where a client had to count the cash 22 times from the time the money was received from the customer to the time it was deposited to the bank! Furthermore, even after counting the cash thoroughly, discrepancies can still occur. APG Cash Drawer built its SMARTtill® Cash Management Solution to specifically address these challenges by allowing cashiers to know the exact amount available in the drawer at the end of every transaction in real time. The solution enables retailers to reduce cash losses, decrease the cost of cash handling, and improve in-store productivity.

Low section view of a businessman analyzing business graph on digital tablet.The SMARTtill® Cash Management Solution captures all cash activity at its location without interrupting the retail transaction and reconciles with the transaction sales log. Using the SMARTtill® Cash Manager software, supervisors can remotely track every bill and coin that enters and leaves a drawer, keeping a record of every cash movement, including transaction numbers and cashier IDs. This gives managers a complete, accurate picture of each day’s transactions, allowing them to quickly spot and address any issues that may occur. When a discrepancy occurs, the SMARTtill® Cash Manager software flags the error and issues an alert to the back office. This enables the treasury managers to keep track of every cash movement in the company.

“Our solution stands on four
pillars of efficient operations, loss
prevention, data analytics and
improved treasury operations”

Hands counting us dollars with calculator and digital tabletIn a typical store setting, supervisors carry out spot checks to know the amount of money required in the drawer, whether
top-off is needed for each denomination, and whether a cash pull is required. The SMARTtill® Cash Management Solution removes the guesswork and the extra effort involved in spot checks. If a cash drawer is low on change or small bills, the
solution will send out alerts to the management for cash replenishment. This saves time that was previously wasted in interrogating every cashier. “Our solution stands on four pillars of efficient operations, loss prevention, data analytics and improved treasury operations,” states Bergeron.

The company will soon launch TCP/IP connectivity capability in its SMARTtill® solutions that will make it work in a mobile environment. The solution will be able to connect with numerous tablets allowing retailers to manage cash as well as mobile transactions with a single SMARTtill® Device. APG Cash Drawer continues to strive to be the best and preferred supplier of cash management solutions that can be used by traditional retailers or POS companies to globally enhance efficiency and security at the point of sale.

 

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By Stephen Bergeron

V.P. of Global Marketing
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