The intelligent cash drawer builds Tellermate count-by-weight technology into the drawer itself, giving you full visibility of exactly how much cash 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 labor 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.
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.
LiveDrawer not only provides insight to management as cashiers will be instantly alerted if the incorrect change has been given that protects profits and ensures a positive experience for customers as they are never short-changed.
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.
A leading European retailer were looking for ways to minimize shrink, get better visibility of their cash and reduce labor costs without reducing headcount
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
If your business pays staff overtime for the time that they spend reconciling cash drawers before or after their shift has ended, then the time saving above can be directly translated into labour cost savings. During opening hours, the labor time saved from not having to count/prepare banking deposits or investigate losses could be appropriated to other profit producing tasks, such as serving customers or re-stocking shelves
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.
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 leading to further operational efficiencies.
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 smart safes and CCTV via a flexible API to extend the benefits of the solution to your business.
Deploying Tellermate LiveDrawer together with a safe at the point of sale offers the opportunity to further reduce labour costs, improve cash security and provide better visibility of cash across the entire estate. The combination of a smart safe and LiveDrawer provides a complete end-to-end cash management solution.
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.