Retail Finance in Mexico
Retail finance in supermarkets: How A recycling solution helped a big store cut down 90% CIT visits and 50% cash-to-collect costs.
Speaking of cash security, the retail environment always faces heavy cash transactions and high transit risk; especially for those giants in this industry. The largest brick and mortar retail group in Latin America was one of them. Mexico is a cash-based society where stores would manage more than 5 million pesos in cash daily. Such large amounts of cash lead to high CIT costs and long working hours for cash counting staff. Internal theft can also happen frequently that puts more stress on management.
Things changed after our innovative cash recycling solution successfully deployed in Mexico. GRG Banking's solution allows store managers or cashiers to deposit cash instantly inside the store with real time credit into their bank accounts and offers the chance for public consumers to withdraw cash from their personal accounts via their ATM network. It continuously enhances its internal cash management procedures with this solution.
Chinese Gas Stations and Highway Cash Collection
In the past, toll stations were the most troubling customers for CIT operators as CIT trips were longer before collecting all the cash from toll stations all over highways. CIT operators faced high labor and fuel costs per visit, and the delivery time for each trip was hard to forecast and manage.
Now, the dilemma was solved with GRGBanking's cash collection solution. The solution includes intelligent cash deposit machines and a self-developed management platform to monitor and manage the status of each machine running online.
The improvement brought by this solution is significant. Cooperating with a local CIT companies, the domestic highway operator deploys the whole solution in its toll stations to optimize the workflow of cash collection and its CIT pick-up plan.
Rapid cash handover, flexible CIT routes, less labor costs, and stronger accessibility to cash & machine status has greatly improved the efficiently and operation costs for the company.
With GRGBanking's management platform, now retailers can enjoy a significantly shorter cash credit time as the cash deposited in the machine will be credited into retailers' account immediately with the participant's sponsored bank.
Experience a seamless cash handling process with GRGBanking's cash collection solution.
Cash Automation in South Africa
Compared to large and medium-sized retail enterprises, scenarios like smaller service sector businesses deal with smaller denominations and more infrequent cash transactions. So, how can one improve cash collection efficiency in these conditions for CIT companies?
The largest provider of integrated security solutions in South Africa deployed compact cash depositors in convenient stores to boost its service efficiency. The solution significantly reduced the retailers’ cash processing costs while enhancing security. It incorporates the option of offering same-day credit into the customer’s bank account without the cash leaving the premises, or can be customized to automatically credit the customer’s bank account once the CIT team collects the cash on site.
Facing special requirement for depositing bulk cash, GRGBanking's tailored modules ensure large depositing capacity and super low jam rates. It is a cost-effective solution for improving the working capital and visibility over cash flow, which also enhances the security of the customer's money.
