Cash automation to enable higher levels of customer experience
Lisle Illinois, January 9, 2017 –
In an effort to find innovative ways to simplify their business operations, BJ’s Wholesale Club has partnered with Glory Global Solutions to rollout cash automation solutions across their chain.
In light of a company-wide initiative to find operationally efficient ways to simplify the business, BJ’s found an innovative solution in cash recycling. Their goal was to put labor into more member-facing activities while simultaneously fulfilling needs in the back office. After extensive research on cash automation solutions, BJ’s expanded their relationship with Glory and purchased the CASHINFINITYTM CI-300 and CI-200 cash recyclers for over 200 stores.
“With cash recycling, we were hoping to decrease average labor hours needed in our lower office (back office) to invest in backroom technology so we can place that labor in more Member Facing Areas. We executed a proof-of-concept in several stores and realized savings of 7.5 hours per day per store in cash processing labor. Across our entire store base, that labor savings represents millions of dollars, “explained Mike Loudon, VP Operations Support for BJ’s.
Loudon went on to say, “An additional benefit we didn’t anticipate was the significant reduction in cash required to be on hand at each club. We reduced cash in-store by 15-20% which we are putting to better use elsewhere in our business. We are also anticipating the cashier cash variances will go down as we measure those numbers at the end of our store recycler roll-out."
Cash management is perhaps the best and easiest of all potential quick wins for retailers seeking fast efficiency gains. As cash still accounts for around 30% of consumer transactions in the U.S., it remains extremely important to retailer margins, yet the process of moving money is complex. It takes time, involves many process steps, plenty of human touch points and often a lack of security leading to “shrinkage” (through accidental loss and theft). The partnership between BJ’s and Glory comes at a time when retailers are continuously squeezed for operational efficiencies while seeking innovative approaches to drive customer traffic and engagement. Automating the retail cash chain is gaining momentum as retailers look to gain significant return on investment. BJ’s estimates the ROI for the entire investment to be just over one year. There are very few places in retail that can realize that type of return.
- ENDS -
About Glory Global Solutions
Glory Global Solutions is a global leader in secure cash management solutions. Operating across the financial, retail, and gaming industries, businesses in more than 100 countries rely on our solutions to enhance staff efficiency, reduce operating costs and enable a better customer experience.
Headquartered in the UK, Glory Global Solutions is a wholly owned subsidiary of GLORY Ltd. Employing over 3,000 professionals worldwide with dedicated R&D and manufacturing facilities across Europe, Asia and North America, Glory Global Solutions is GLORY’s international sales and service organization. Built on a rich customer-focused, technology-driven heritage spanning almost a hundred years, GLORY is a pioneer in the development and manufacture of cash management, vending and automatic service equipment.
About BJ’s Wholesale
Headquartered in Westborough, Massachusetts, BJ's is the leading operator of membership warehouse clubs in the Eastern United States. The company currently operates 214 clubs and 130 BJ's Gas® locations in 15 states.
BJ's provides a one-stop shopping destination filled with top-quality, leading brands, including its exclusive Wellsley Farms and Berkley Jensen brands, along with USDA Choice meats, premium produce and delicious organics, many in supermarket sizes. BJ's is also the only major membership warehouse club to accept all manufacturers' coupons and, for greater convenience, offers the most payment options.