G4S Technology - Transforming Retail Cash Management
In May 2018, G4S won a new, five year, Retail Cash Solutions contract with a major US retailer. The contract was mobilised in the second half of 2018. Under this initial contract, G4S implemented and managed an integrated cash management system using G4S’ proprietary software and service model in more than 500 stores. In November 2018, the retailer awarded around another 600 stores to G4S.
Based on positive implementation and operational delivery and cost effectiveness, a third tranche of around 250 stores, was awarded in January 2019. Implementation of both of these further awards began in March 2019.
The benefit of using G4S Retail Cash Solutions are substantial for large retail customers both in terms of reducing cash handling costs (labour, banking fees and transportation) and in providing better working capital management, freeing up to 80% of cash that was previously trapped in the cash processing system.