Retailers: Are Smart Safes a Bright Idea?
Introductions
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William BurbackVice President
Global Treasury ManagementU.S. Bank
James Poteet Senior Vice President
Business Solutions Brink’s U.S.
Tim SmithCorporate Controller
Binny’s Beverage Depot
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
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Binny’s Pre-Smart Safe Process
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Reduce Cash Supply Chain Costs
Source: Brink’s proprietary customer research5
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
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Measurement Against Desired Outcomes
Objective AchievedManager focus on core business
Improve in-store efficiency through elimination of multiple cash touch points and quicker cashier balancingImprove safety and risk
Information visibility
Improved efficiencies in the supply chain
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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
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How Does Daily Credit Work With a Smart Safe Solution?
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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
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Why Do Customers Use a Smart Safe?
Key Areas of Focus Benefits
Reduce store/corporate labor costs • Deposit cash as soon as the customer pays
• Track deposits from the store to the bank
• Save labor daily hours associated with counting cash
Reduce operating and administrative costs • Automate bank account reconciliation• Quicker identification of issues
Reduce internal/external theft • No access to safe contents• Dual control required for removal• Guarantee for cash in cassettes• Quicker balancing and reconciliation
Reduce employee turnover • Eliminate risk of taking deposits to the bank
• Employees spend more time with customers
• Automated cash handling processImprove store performance • Automated oversight & control
• Frees manager to focus on core business activities
Questions and Answers