With Tellermate’s help, Petco can increase operational efficiency, reduce labor costs and virtually eliminate cash loss across your stores – helping to bolster the bottom line by more than $12m a year.
With more than 1,400 locations across the US, Petco continues to grow successfully. But with this continued expansion, comes challenges around achieving everyday efficiency, cost control, adherence to process, and unfortunately, cash loss.
But what if Petco could drive efficiency and reduce store operating costs by automating manual tasks? What if this led to a reduction in labor hours and an increase to the bottom line?
By implementing intelligent cash management technology, Petco could optimize the cash handling process; eradicating time-consuming manual procedures, driving in-store efficiencies, and reducing both labor and operational costs across your stores. All this could lead to a saving of more than $12m annually. Here’s how…
Tellermate’s End-to-End cash management solution (LiveDrawer), could help Petco simplify the traditional cash management process by automating manual tasks (such as cash drawer reconciliations or CIT deposits), and reducing the number of “touches” in the cash-to-bank cycle.
This streamlined process cuts the time spent processing cash by up to 70% and saves around 2 hours, per store, per day. That’s a saving of around 1,000,000 labor hours, or more than $12m a year – and that’s before you count the reduction in cash loss.
Of course, as well as driving efficiency, you’ll want to protect your hard-earned profits…
With LiveDrawer’s detailed transaction-by-transaction analysis, Petco could pinpoint a cash loss of as little of one cent to an exact drawer, shift, time – and even cashier – all in real-time. Alerts will be fired that give cashiers and managers an opportunity to correct a mistake as it happens, preventing the need for lengthy, retrospective loss prevention investigations.
Plus, the dashboard and analytical reporting tool will also help identify problem stores, suspect transactions and even cashiers with higher-than-average rates of loss. All this means that up to 99% of cash loss is eradicated, operations are streamlined and profits are protected.
At Tellermate, we help businesses just like Petco drive efficiency, reduce shrink, lower operating costs and get better visibility of their cash. Our intelligent cash management solutions are used by leading retailers such as Michael’s, T-Mobile and Aldi to help them spend less time investigating cash loss, reconciling cash drawers, setting floats or counting deposits; and more time where it really matters – with their customers.
We’d love the opportunity to explore how we could help Petco increase your profitability by driving efficiency, reducing labor costs and virtually eliminating cash loss across your stores.
Find out more, book a consultation, or request a free pilot in your stores
