The Co-op Food Group is a UK food retail brand with over 2,600 Co-op food stores across the UK.
Volumatic worked in partnership with The Co-op Food Group to find them a bespoke solution incorporating the CCi, SmartCash, that fulfilled all their cash handling needs...
Challenges Faced by The Co-op Food Group
The Co-op Food Group prides itself on putting its people and customers first, so were conscious that their store staff were spending more and more time on labour-intensive cash procesessing procedures, which meant they couldn't spend as much time delivering excellent customer service and were putting their staff at risk. They needed a new cash handling solution to solve these issues and one that would be cost-effective and make their stores as efficient as possible. They also wanted to reduce their cash losses and find a solution that provided better traceability and offered counterfeit detection, as both of these were lacking in their existing cash handling process.
The Volumatic Solution
Impressed by our expertise in cash handling solutions, impressive track record with other convenience retailers and our great reputation for customer support, The Co-op Food Group chose to partner with Volumatic following a rigourous selection process to find the right (and best) solution to increase its cash handling efficiency. Volumatic came out on top and introduced them to our CounterCache intelligent (CCi) one-touch device, which was perfect for their needs, but The Co-op Food group wanted these devices to be fully integrated into the EPOS system within their stores to give them greater visibility. Working together, Volumatic and The Co-op Food Group found a solution to this, which the Co-op named SmartCash.
Working closely The Co-op Food Group, Volumatic developed their new SmartCash solution, which has subsequently been rolled out across all stores. SmartCash is a combination of Volumatic's award-winning CCi solution, fully integrated into the Co-op's EPOS system which has made a significant impact on their business.
Their previous cash process covered 15 steps from transaction to banking, but SmartCash cuts this down to just seven steps, and cash touch-points have reduced from six to just one, increasing Co-op's efficiency and saving time and money. SmartCash has also received a lot of praise from Co-op colleagues too, helping them to feel safer, and giving them more time to focus on their customers.
Peter Batt, Divisional Managing Director of The Co-op Food Group said: "This is technology at the highest possible level, where our collleagues are going to have to do less tasks and spend more time with customers. It means managers aren't worried about losing cash, they are spending time with customers and ulitmately the customer experience gets a lot better."
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