Presentation on theme: "Mick Phipps Head Of Loss Prevention Wilkinson 339 stores nation wide ranging from 5,000 Sq Ft to 40,000 Sq Ft Turnover of 1.6 Billion in 2009 Still."— Presentation transcript:
Mick Phipps Head Of Loss Prevention
Wilkinson 339 stores nation wide ranging from 5,000 Sq Ft to 40,000 Sq Ft Turnover of 1.6 Billion in 2009 Still family owned business Selling product categories = approximately 25,000 Skus DIY Home Living Kitchen Stationary Confectionary Health & Beauty Toys and Seasonal
Agenda Cash Processing in a retail environment Audit trail Existing Costs Cost Saving Where to next Questions Raised Future Developments
Cash Processing in Retail environment Cash Register Moving cash Securing the cash Third Party Carrier
Cash Processing in Retail environment Cash Register
Securing the cash Cash Processing in Retail environment
Moving cash Cash Processing in Retail environment
Third Party Carrier Cash Processing in Retail environment
Audit Trail Where cash is involved Team members Customers Third party Error Genuine mistake Fraud System Why?
Cost Maintenance of existing equipment Cost of transporting cash from register to cash office Counting the cash Third party carrier to remove cash from outlet Processing of cash
Cost Saving Less cash movement Till to safe Outside of trading hours Less cash counting (Streamlined) Once in the CCi no count required until cash sorting centre No manual count required at any time Instant access to audit information Via Palm or other device, link directly to till unit, printer capability Reduces fraud Till Snatch, counterfeit note, intimidation Volumatic Counter Cash Intelligent (CCi)System Reduces Cash handling By 75%
Where To Next ? The ROI has been calculated and more than exceeds our expectations Trials have been completed in a number of our stores, small, medium and large over a number of months Trials continuing as discussions as how to best implement a roll out across the business take place
Questions Raised QuestionAnswer It is not a safe Additional security (Metal container to protect unit) Till units being redesigned Cash removed each day (In most cases) once trading completed How secure is the CCi from attack? Cash Handling centres will require automated cash multi-denomination cash counters long term Multi denominations of cash held in unit, how does this effect counting at sorting centres? Wilkinson does not currently trade 24 hr but if we did we would look to use a secure pod trolley If 24 hr trading operation how do you move cash from till to cash office?
Future Developments Testing ongoing on smart tills We do not believe the technology is there yet This is the direction we believe technology is being directed Automation is the key – remove the likelihood of error in all its forms Now we know what is in the CCi at any time, with instant visibility, we now need to be able to have information about the cash notes and coinage in the register