Cutting Cash Loss In Forecourts By 96%

04 June 2021

How Volumatic helped MPK Garages to cut cash loss and increase payment efficiency

With a high focus on customer service and operational efficiency, MPK Garages have quickly made a name as one of the leading independent forecourt businesses in the UK. With over 30 UK sites and partnerships with brands such as Morrisons, Essar and Texaco, MPK Garages have a strong retail offering. What’s more, cash is still a prominent payment choice for the business. For some MPK sites, more than 60% of all transactions are made with cash.

To help streamline cash handling and increase operational efficiency, MPK Garages partnered with Volumatic, and the results they have achieved have transformed the business on every level and cut cash loss by a game-changing 96%.

CCi for Cash Loss

Volumatic’s CCi, a one-touch cash solution, checks, counts and safely stores banknotes as the point of sale. Not only does it minimise cash contact for safety, but it also helps to create a closed-cash loop, as Wayne Harrand, Retail Director at MPK Garages, explains:

“The CCi has really made transactions much easier, thanks to its one-touch element. At the point of sale, we don’t touch the cash again; only the bank touches it during processing. We love that cash exposure in our stores is minimised to just the customer transaction.”

One of the significant benefits of the CCi cash solution is that it limits access to cash. This safe, tamper-evident storage allows colleagues to focus on customer service. At the same time, they have peace of mind that the risk of theft is reduced, and the colleague is not responsible for scrupulous forgery checks. Instead, the CCi does the forgery checks, aligned with the Bank Of England forgery framework.

Eliminating these cash risks and reducing cash accessibility has had a profound effect on the business. Wayne shares:

“We removed all cash risks from the business. So much so, in the last six months, we’ve reduced cash loss by 96% across our whole estate. The remainder, we can attribute to certain things, such as final change errors. In terms of theft of cash, we’ve saved so much money as access to cash is so limited.”

Simplifying Cash Handling During The Pandemic

As well as cutting cash loss across the MPK estate, the CCi has also significantly helped the business during Covid.

“The CCi has absolutely been a benefit during Covid, with total visibility and control. At the height of Covid, we had failed collections due to restraints, so the CCi gave us an extra level of security. Colleagues feel much safer as their contact with cash is reduced and reduces the risk of theft.”

As forecourts look to increase colleague safety while also increasing cash efficiency, cash handling technologies in-store can be transformative. MPK Garages strong focus on growth and operational efficiencies has been greatly helped by ensuring they have a clear cash position thanks to Volumatic’s offerings.

Utilising Volumatic’s CCi alongside their CashView Enterprise software means that MPK Garages have complete cash visibility, essential for cash flow and for analysing cash within the business. Wayne explains;

“I think if any business wants to progress and wants to grow efficiencies and remove cash concerns should be looking at the CCi and CashView Enterprise as an option. A clear cash position is important. Without it, how can you operate your business effectively? You want that protection. It will reduce your loss significantly. It’s another level of security and reduces cash loss on site. It’s a seamless operation.”

 

Do you want to find out more about how your forecourt business can save money, increase operational efficiencies and cut cash loss? To discover how the CCi can revolutionise your cash handling process, contact Volumatic on +44 (0) 2476 684 217 or email info@volumatic.com for a free trial.

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