Cash Management: Retailers Kiss The Cash Drawer Goodbye With Wincor Nixdorf's New Closed, Automated Cash Management System

Wincor Nixdorf, one of the world's leading suppliers of total IT solutions for the retail and banking industries, is helping retailers to greatly reduce the high operating costs, errors and other risks associated with managing cash drawers with the U.S. introduction of its entirely closed, automated Cash Management system.

Wincor Nixdorf's new Cash Management system blends the best of both ATM and POS technologies to deliver advanced process automation for counting, sorting, checking for counterfeits, collecting receipts, reconciling and transporting cash.

Wincor Nixdorf's Cash Management terminals provide the most accurate means for securing every transaction. Bills from $1 to $100 are read and digitally validated before being passed into locked cassettes. In addition, the sophisticated system automatically recycles currency, reusing dollars and coins and keeping an ongoing count of the cash balance for each register. Reconciling and balancing effectively become obsolete, as cashiers never need to open the cash drawer.

"Since Cash Management automatically recycles cash that is put into the system, the costly and timely process needed to count, sort, bundle and replenish cash is eliminated," said Tad Shepperd, vice president of the Retail Group for Wincor Nixdorf U.S. "That means store personnel can focus their attention on more critical tasks and ensuring the best possible shopping experience for customers."

Mr. Shepperd added that, because Wincor Nixdorf's Cash Management system is closed and automated, change is handled with 100 percent accuracy, and counting errors and theft from cash drawers are effectively eliminated.

Retailers can position the terminal at the checkout for direct customer interaction. Customers insert currency in to a unit and receive their exact change in dollars and coins without an employee ever handing the cash. The terminal can also be positioned behind the counter for employees to insert payments and receive change. Because the Cash Management system is integrated with the store's POS system, it can report totals by cashier, shift, business day and content.

Terminals can also be positioned in the back office, enabling faster reconciliation of tills. Store managers can eliminate the need to count receipts, and deposits can be prepared in minutes instead of hours.