With Tellermate’s help, Costa can generate operational cost savings, drive in-store efficiency and reduce cash loss across your stores – helping to bolster the bottom line by more than £12m a year.
With more than 2,400 locations across the UK, Costa 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 Costa could drive efficiency and reduce store operating costs by automating manual tasks? What if this led to a reduction in labour hours and an increase to the bottom line?
By implementing intelligent cash management technology, Costa could optimize the cash handling process; eradicating time-consuming manual procedures, driving in-store efficiencies, and reducing both labour 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 Costa simplify the traditional cash management process by automating manual tasks (such as till 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 1,728,000 labour 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, Costa could pinpoint a cash loss of as little of 1p to an exact till, shift, 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 Costa drive efficiency, lower operating costs, reduce shrink and get better visibility of their cash. Our intelligent cash management solutions are used by leading brands such as Greggs, JD Wetherspoon, and Burger King to help them spend less time managing cash; and more time where it really matters – with their customers.
We’d love the opportunity to explore how we could help Costa achieve your corporate objectives of controlling costs, driving everyday efficiency, and generating savings whilst virtually eliminating cash loss across your stores.
Find out more, book a consultation, or request a free pilot in your stores
