Tellermate is presenting our end-to-end cash management solutions at the DTS partner showcase on May 20, 2021. The following is an interview from DTS with Tellermate’s Chris Decator, Director of Business Development. Register for the free event here!
Chris Decator: Tellermate has been around for over 40 years leading the industry in cash weigh scale solutions. We can provide a complete end to end solution. Very unique for the retail environment, and in many respects, I would deem it to be a low-cost retail solution but not low in value.
Chris: What we do, especially through our collaboration [with DTS], is solve customer pain points in a very unique fashion. What we are finding from the retail environment is that they are trying to right size their staffing to where, especially in today’s environment, they are trying to find people to work given the Covid-19 environment.
They are also looking to find ways to transition time out of the back office and have more customer-facing time. And that’s where we come in.
As we look to solve problems, we’re looking to change the way that cash moves throughout the entire ecosystem to shorten the time employees spend away from customers, so businesses are getting qualitative on the clock time with their employees.
Chris: At the showcase, we’re going to share the industry’s first ever IoT touchscreen weigh-scale solution [Tellermate Touch], which is an Internet of Things weigh-scale solution that that we released in 2018.
Also, were new to the market with a solution known as LiveDrawer. Many of our other products focus on the back office and bettering the back-office scenario, whereas LiveDrawer takes the solution from the back office and puts it into the front office. There is some artificial intelligence that it provides when integrated into the customers point of sale. It provides true track and trace associated with every cash handling aspect.
Chris: In addition to that, if a customer has existing smart safes or cash recyclers in the back office, or are looking to deploy, we can, in many respects, replace those or even enhance existing deployments. Loss prevention can see exactly who’s done, what, when, where, why, and how much with their cash.
LiveDrawer enables the efficiencies gained when using lane accountability, but it does so with cashier accountability in that we know exactly who has done everything with your cash. In the event that somebody is perhaps stealing, be it from the customers to where they’re giving incorrect change back, or perhaps holding onto a quarter per transaction and then at the end of the day, they’re still on balance in the customer’s eyes, but is in fact pocketing $20, we can see that.
Chris: We can see exactly who has done what and who was on that point of sale. That is going to allow you to see when that out of balance condition occurred. In addition to that, from a corporate treasury perspective, you’re going to have better intelligence into exactly how much cash you need to have out there on the floor.
You get an enterprise level view specific to the collaboration of exactly how many $1s, $5s, $20s, $50s and $100s have moved through that entire ecosystem throughout the day.
As opposed to having the reactionary information from a back office solution, you’re actually seeing the ebbs and flows to make better decisions throughout your entire system. So, it’s not a guesstimation anymore, it’s the actuality of what your needs are.
CD: We are, and you can see how it works throughout the entire ecosystem as well as the text messages that it will send to the appropriate parties in the event that things are out of balance.
So, if somebody is stealing it will not only send it to a specific loss prevention member that has the responsibility for that particular store and district, but from an operations perspective, you’d be able to receive transactional information to any event.
Let’s say lane 3 necessitates more $1s, before it impacts the customer. It is so intuitive it will actually reach out to store operations, saying, “This is lane, 3, I’m about to run out of ones, please bring me X amount,” and it knows to anticipate that. So, we really solve every single, I can’t say every single operational problem, but most operational problems as it relates to cash handling systems.