Highly accurate audit trails are generated instantly to aid with investigations
Significant time savings through real-time cash counting
The exact cashier can be associated with a detected cash discrepancy
Real-time cash counting deters dishonest staff and removes opportunity for employee theft
The intelligent cash drawer builds Tellermate count-by-weight technology into the drawer itself, giving you full visibility of exactly how much money is in the drawer at any one time.
With its ability to highlight discrepancies between the drawer and the POS, LiveDrawer virtually eliminates loss and gives you a full audit trail of your cash. Plus, the clever counting technology eliminates the need for cash counting at the checkout and at cashing-up time; improving efficiency and reducing the stress on cashiers.
LiveDrawer helps you automate your cash processes and reduce the labour costs associated with counting cash. With real-time transaction-to-transaction insight, LiveDrawer keeps a running total of the cash in your drawer. So managers and corporate offices know the exact amount of cash in a drawer at any given time, reducing shrink and any unnecessary costs from the process.
LiveDrawer is a bespoke, cash management solution that is perfect for retailers, supermarkets and any other business that takes cash. We work with our clients to produce solutions around their business needs. The Tellermate approach is both consultative and supportive to ensure that maximum benefits can be realised from the deployment of a LiveDrawer solution that means making sure it fits with your store furniture and integrates seamlessly with your EPOS.
The intelligent cash drawer provides a transaction-to-transaction audit trail for multiple operators who share the same till ensuring that the correct cashier can be associated with a cash discrepancy, event or incident. This means that each and every single transaction for a particular cashier is tracked allowing the LiveDrawer software to autonomously monitor performance and flag up any reconciliation errors in real-time.
The LiveDrawer software platform contains a reporting dashboard that can be used by store management to monitor tills easily. It can also be used by head office to monitor the cash performance across multiple stores in a region. You’ll be able to view all data relating to cash discrepancies and change orders can be optimised meaning that ‘problem’ stores can be flagged by head office in real-time. This provides Loss Prevention and Operational teams with the supporting evidence needed to investigate instances of cash loss.
Alerts built into the LiveDrawer Manager platform can dramatically reduce common cash counting errors and significantly reduce cash loss. Management can be notified of any cash discrepancies, when change is running low or when a pick-up is needed in real-time. Immediate alerts can be sent to cashiers notifying them that incorrect change has been given along with prompts to perform a lift or skim when the cash drawer is approaching its pre-set thresholds. This improves security by reducing the risk of having large volumes of cash on the shop floor.
The intelligent cash drawer is able to integrate with your EPOS and back office system enabling your business to receive all the benefits of real-time cash counting. LiveDrawer can also be integrated with other security solutions such as intelligent safes and CCTV to extend the benefits of the product to your business and provide a closed-loop cash management solution.
The largest cause of retail shrinkage is internal theft committed by dishonest staff costing global retailers $48 billion annually. Until now reducing the shrink related to cash loss has been a daunting task, but LiveDrawer equips businesses with the tool needed. By reconciling the cash within the drawer with what the POS expects in real-time, discrepancies are flagged instantly, removing the opportunity for internal theft.
Real-time cash counting simplifies all areas of currency management by providing detailed cash inventories by denomination. Change ordering and CIT schedules can be optimised meaning that the associated costs can be significantly reduced. This increased operational efficiency in terms of cash handling results in significant time savings that allow in-store staff to focus on value adding activities.
By providing real-time cash inventories by denomination and transaction-to-transaction data, LiveDrawer keeps a running total of the actual cash in your drawer. And if there is a discrepancy, it ties the transaction to the user. This real-time visibility of cash totals and events is revolutionary giving you control over your in-store cash like never before.
The benefits of installing intelligent cash drawers in your business are far reaching and impact multiple departments. Loss Prevention is able to improve cash security and deter internal theft with a real-time view of cash movements. Retail Operations will experience efficiency gains through driving adherence to process and having complete cashier accountability data. Finance teams are able to improve cash visibility on the shop floor and optimise both coin ordering and CIT services reducing associated costs. IT is able to give head office visibility of in-store cash movement and has data at their disposal that can be mined for valuable insight.
Benefits of the intelligent cash drawer to a business don’t stop at functional departments. LiveDrawer has been developed with the user in mind so the stress of handling cash is almost completely removed for cashiers. With real-time alerts and supporting data to eliminate disputes, your cashiers will feel protected. But that’s not all, by removing shift changeover delays, improving point-of-sale efficiency and ensuring that customers are no longer short-changed – your customers will be sure to leave your store with a smile on their face.