Accessibility Statement Skip Navigation
  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing
  • Login
  • GDPR
  • Create a Free Account
Return to PRWeb homepage
  • News
  • Resources
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
  • Business & Money
      • Auto & Transportation

      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Hamburger menu
  • Cision PRWeb provides efficient communication tools to continuously engage with target audiences across multiple online channels
  • Create a Free Account
    • ALL CONTACT INFO
    • Contact Us


      11AM ET Sunday – 8PM ET Friday

  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR

IHL Group Study Commissioned by APG Cash Drawer Reveals Automation Can Dramatically Reduce Retailers’ Cash-handling Expenses
  • USA - English


News provided by

APG Cash Drawer, LLC

Jan 11, 2018, 03:00 ET

Share this article

Share toX

Share this article

Share toX

Youtube
Youtube

MINNEAPOLIS (PRWEB) January 11, 2018 -- APG Cash Drawer, a fast-growing global manufacturer of cash management solutions, announced today a study conducted in partnership with IHL Group showing that retailers can recoup an average of 200 to 500 of labor hours per store monthly by replacing manual cash management with automation technology.

Today’s retailers are very focused on improving the customer experience, but their efforts are hampered by time-consuming manual tasks such as topping up cash drawers, delivering change to checkouts and doing back office cash counts.

Post this

The study, “Cash Multipliers: How Reducing Cash Handling Can Enable Retail Sales and Profit Growth,” disproves the notion cash-based transactions are waning. In fact, cash accounted for 41.2 billion transactions in 2017 through 12.1 million cash points such as wallets, cash drawers, ECRs, POS stations and mobile POS lines. These transactions incur costs to retailers from 4% to 15%, depending on the retail segment, and up to 71% of those costs are related to front-of-the-store activities such replenishing change at tills and closing out drawers at the end of a shift. Depending on the vertical and cash handling procedure, with integrated cash management solutions, businesses can save 15-30 minutes per day, per POS on cash counts which can be redeployed to profit generating activities and an improved customer experience.

Retailers have an urgent need to cut their cash-handling costs not only because cash purchases account for almost one third (30%) of all transactions but also because they must find ways to compete with market leaders Walmart and Amazon.

The study found retailers don’t know their true costs of managing cash because the process involves multiple components and operating units, making it difficult to keep track of all associated tasks. Costs include tasks at the local store such as drawer starts, rebuilds and closings, transporting cash to banks, and bank fees. Adding to the challenge is that higher-paid senior employees and managers are the ones involved in cash management.

To reduce costs, retailers can take advantage of automated solutions such as the SMARTtill® Cash Management Solution, smart safes, cash recycling solutions at checkout lanes and automated cash management systems. Retailers can reduce their cash-related expenses anywhere from 15% to 80%.

“We’ve known for a while that cash-handling costs are a major challenge for retailers of all shapes and sizes, and this study confirms the costs are indeed substantial. Thankfully, retailers have options for bringing those costs under control, and automated solutions are the answer,” said Mark Olson, President and CEO of APG Cash Drawer.

“Today’s retailers are very focused on improving the customer experience, but their efforts are hampered by time-consuming manual tasks such as topping up cash drawers, delivering change to checkouts and doing back office cash counts. Staff time that should be dedicated to the customer experience is, instead, spent on these tasks. That’s why it’s critical to bring down cash-handling costs,” said Greg Buzek, President at IHL Group.

Retailers are encouraged to visit APG at NRF 2018 (booth #2669) to receive the full printed cost of cash report and to demo APG’s SMARTtill Cash Management Solution, a revolutionary new technology that reduces time spent on counting and reconciling tills in lanes and in the back office of retail stores. Now with TCP/IP technology for intelligent cash management applications capability, the SMARTtill Solution will help retailers leverage mPOS systems and cloud based applications creating a modern, flexible shopping environment for their cash paying customers in convenience stores, grocery stores, small boutiques, fast food, quick service restaurants, and gas stations At NRF, APG’s SMARTtill Solution integration partners include Balance Innovations (VeriBalance), Gulfcoast Software (Storekeeper), Numus (Transtrack), Site Lantern and TGCS France (Storemate POS Platform).

Schedule a meeting with us at NRF 2018 to see the latest innovations in cash management technology and to receive your copy of the IHL Cash Multipliers report.

ABOUT APG CASH DRAWER
Retail payments are changing, yet there is still $1.5 trillion in cash in circulation. In fact, cash represents between 30 to 45% of all global transactions. APG has been designing and delivering cash management solutions with a variety of size, color, interface, and integration options for over 39 years. Whether you need a custom design, general application cash drawer or a product for a mobile shopping experience, APG has a solution. With our durable and dependable products installed, an APG cash drawer will provide years of smooth, trouble free service with virtually no downtime, no preventative maintenance, and no headaches. To learn more about our products, visit http://www.cashdrawer.com or call 763-571-5000. Follow us on Twitter at @apgcashdrawer and on Facebook.

Stephen Bergeron, APG Cash Drawer, LLC, http://www.cashdrawer.com, 7635715000 Ext: 121, [email protected]

Modal title

Contact PRWeb

  • 11AM ET Sunday – 8PM ET Friday
  • Contact Us

About PRWeb

  • About PRWeb
  • Partners
  • Partnership Programs
  • Editorial Guidelines
  • Resources

Why PRWeb

  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing

Accounts

  • Create a Free Account
  • Log in
  • Contact Us

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Legal
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 Cision US Inc.