Operators in any retail channel will find it impossible to survive in today’s environment without a secure, accurate and reliable cash-management system, though convenience retailers in particular are faced with added challenges on this front.
A tough economy increases theft internally and externally at retail stores, but convenience stores—which often operate 24-7 with a limited overnight staff—are uniquely challenged.
Manufacturers of cash-management equipment and monitoring solutions, however, are keeping pace with the added pressures, rolling out innovations in safes, cash-handling systems and robbery deterrents. Biometrics technologies and intelligent safes give retailers solutions for employee identification, money validation and more.
Eliminating cash shrinkage remains a top priority for store operators. The basic necessity of multiple employees handling cash throughout the day complicates the ability to manage cash. To overcome these shortfalls, many progressive chains are moving away from low-tech safes and cash-control machines to high-tech cash -management systems.
The 37 key decision makers who evaluated 11 companies in this segment for the 2009 CSD Brand Preference Study chose Tidel Engineering, Triton Systems and Brink’s Inc. as top performers. Honorable mentions went to Armor Safe Technologies and Tokheim.
There are still enormous collaborative opportunities for retailers and cash-management equipment-and-solution providers. Of the 37 decision makers, 54% reported receiving only one or two presentations from suppliers in the last 60 days.