Heart of England Co-op endorses the Volumatic CCi for "greater cash handling control"
05 September 2023
Heart of England Co-op is known for putting its customers and employees first and constantly strives to find in-store solutions that improve efficiency to ensure they consistently deliver excellent customer service.
In the midst of the current cost-of-living crisis, the grocery sector is not only being impacted by customers spending less amid rising costs across the board but has also seen an increase in both internal shrinkage, and forged banknotes being presented by unscrupulous customers. To combat this, Heart of England Co-op wanted to invest in technology that would ensure their processes were as efficient and cost-effective as possible. As a result, they partnered with Volumatic for a solution to increase their cash handling efficiency and reduce the number of forged notes coming through the business, to support both their colleagues and customers.
Heart of England Co-op was initially interested in Volumatic’s CounterCache secure storage devices, but after explaining their full requirements, Volumatic instead recommended their all-in-one CounterCache intelligent (CCi) solution, which validates, counts and securely stores banknotes. Realising this solution could do everything they wanted, they rolled out the CCi, plus its powerful CashView Enterprise reporting software to all of their 38 stores across the Midlands, which has made a significant impact on the business and received high praise from colleagues too.
The Benefits of CCi
Since installing the CCi, Heart of England Co-op has discovered the following benefits:
Reduction in Fraud
Like all retailers, Heart of England Co-op was concerned about forged notes entering the business.
The latest Bank of England data reveals that in 2022, there were around 200,000 forged notes in circulation throughout the UK. However, with the CCi’s capabilities as a banknote checker, it is now possible for Heart of England Co-op to accurately check every note and eliminate forgeries.
The CCi has passed the Bank of England's Framework Test for banknote machines, which means it will reject all known forgeries in current circulation. Consequently, with the Volumatic CCi solution in place, Heart of England Co-op has seen the benefit of fully validated notes and a dramatic reduction in forgeries since the rollout.
The introduction of the CCi has reduced the need for Heart of England Store Managers to manually conduct till counts at the start and end of the day, which can be a risk concern for stores. Cash is counted, bundled and banked with minimum fuss.
They’ve also seen a huge reduction in shrinkage as the CCi is essentially a one-touch solution – this means that employees only touch the cash once at POS meaning temptation is minimised and till snatches are also a thing of the past. Colleagues can focus on providing dedicated customer service, confident that banknotes are in safe hands with the CCi.
Heart of England Co-op also invested in Volumatic’s steel floor mounts to house their CCi devices at POS, adding an additional level of security.
Maintaining excellent customer service is a priority for Heart of England Co-op. Consequently, it’s important for the teams to have as much time as possible dedicated to customer-centric store activities to provide the best experience possible for their customers.
Then CCi significantly reduces manual counting – Heart of England has said they save around 20 minutes a day with the CCi - and negates the need for dual validation activities when it comes to cash counting. This enables stores a quicker set up every morning and also supports a faster close-down to help ensure colleagues can leave on time.
This time-saving offer benefits customers too, with Heart of England colleagues being able to focus entirely on their needs, knowing cash handling is fast, safe and accurate.
Fewer Mistakes and a Reduction in Cash Loss
With reduced manual cash counting, the CCi has significantly reduced banking errors for the Heart of England Co-op. Till shortages have been minimised thanks to thorough validation and full audit trails, and real-time reporting provided by its CashView Enterprise software.
The CCi holds historical data meaning when there are any till losses or errors, it is now possible to conduct discrepancy investigations quickly and easily.
The CashView Enterprise reporting software also allows central visibility of the cash takings in all stores, allowing them to monitor their CiT insurance levels too.
As well as providing a revolutionary cash handling solution for Heart of England Co-op, Volumatic are always on hand to offer Customer Support covering the CCis across all stores. This means that the CCi devices are regularly maintained and updated, such as when new polymer notes are introduced, to ensure they continue to work smoothly and efficiently at all times.
What's more, although operating the CCi is simple, and training is minimal, Volumatic’s Account Managers and Customer Support team are always on-hand for any training or queries about using the solution, helping to make sure cash handling is always as stress-free as possible for Heart of England Co-op colleagues.
Mike Severs, Sales & Marketing Director at Volumatic said: “Having worked with many other members of the Co-op family, we were delighted to work with Heart of England Co-op to offer them our CCi solution, and we’re even more delighted at the results they’ve seen since rolling it out to their stores – and for providing us with yet another fantastic case study to share with other retailers looking for a reliable cash handling solution for their stores. In today’s difficult climate for retailers, the CCi really does make them more efficient, more secure and saves them money.”
Beverley Cartwright, Head of Internal Audit at Heart of England Co-op said: "The CCi is now embedded into our Heart of England Stores. It looks neat, works effectively, cuts down our cash handling times and allows us to put that time to better use."
"We no longer suffer from criminals trying to pass forged notes to our cashiers. It also gives us greater control over our cash holding without the need to visit stores or disrupt store colleagues away from their day job."
"I would recommend Volumatic to other businesses and have already done so on multiple occasions."
Read the full Heart of England Case Study here