Insights about SOLUTIONS for Supermarket Automation – February 2018
WHO’S MANAGING YOUR CASH?
What if you saved a ton of time automating your cash management?
Supermarkets have long understood the high cost of manually counting and recounting cash. In order to combat ever increasing costs many retailers have moved from cashier accountability to lane accountability.
The logic is that it costs more to count every cashier till than to just build in a certain “acceptable variance” and have several cashiers share the same till.
Unacceptable till variances fall to Loss Prevention which by definition is underfunded and understaffed.
So what happens and you know it’s true, over time, you get used to the cash shorts and it becomes just one more of those distasteful costs of doing business.
Would it make sense to automate cash handling if it:
- Significantly reduced labor hours
- Cut shrink
- Improved cash handling accuracy and
- Reduces the cash on hand requirements?
In this article we’re going to talk about a really cool device that automates 90% of the “non-customer facing” cash handing process. It’s a really smart safe that knows what it has by counting the Money going In and the Money going Out.
It automates hours of tedious, brain numbing, error prone labor giving you the option to move it into productive customer facing opportunities.
Introducing – MIMO
It stands for Money In Money Out.
It logs everything it does AND has, and you can see it all from any browser with your secure login. How cool is that?
It’s brilliant; in a nutshell, cashiers log in and select start shift, and MIMO automatically dispenses the starting till and receipt. At the end of the shift it works the same way, the cashier logs in; bulk dumps the coin in a tray and then loads up to 300 bills at a time. MIMO counts it, records it, and gives the cashier a detailed receipt.
MIMO is rolled out at COSCO so you know it handles loans and pickups just as well. Cashiers save an average of 15 minutes a day; it adds up quickly.
Bookkeeping functions are dramatically simplified.
MIMO knows what each cashier’s starting till was, it knows every loan, pickup and make change transaction, and it knows the end shift deposit.
MIMO also knows how much money it started the day with and it knows how much it ended the day with.
So now comes another big labor saver; MIMO counts down your safe to the daily float balance by denomination and prepares your bank deposit in a special secure removable cassette.
- On average MIMO cuts hours of cash management labor every day.
- MIMO also eliminates between 25 and 33% of your “Cash on Hand” requirements with efficient cash recycling. That’s real money you can put in the bank.
- MIMO also has a web based back office feature that monitors the safe from any browser with your secure login. Its peace of mind knowing your cash is secure.
- With MIMO you can efficiently and accurately enforce cashier accountability while freeing up labor to focus on your customers.
Want to know more? Call us now at 1-800-544-8408
We’re committed to providing the finest equipment, professional service, and technical support at affordable prices. When you need us, we’re there.
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Next Report: “Who’s Managing Your Prices?”