Magazine Article | January 20, 2012

Eliminate Missing Cash

Source: Innovative Retail Technologies

February 2012 Integrated Solutions For Retailers

By Matt Pillar, Editor In Chief

A smart-safe upgrade resulted in 100% deposit accuracy for a fast-growth c-store chain.

When the CFO speaks, it’s best to listen. Especially when the CFO is speaking about his displeasure with the amount of missing cash in stores as it moves from tills to safes.

With soon-to-be 39 convenience stores, the majority of which are branded Conoco-Phillips, parent company OnCue Express takes in a lot of cash. Unfortunately, with a manual approach to cash counting and safe deposit, too much of that cash was getting lost or stolen in the shuffle from POS drawers to old-fashioned safes and on to armored cars. Steve James, the company’s CFO, charged CTO Rocky Taylor with the task of modernizing cash control ahead of a major expansion into Oklahoma City.