Case Study: Verizon Wireless — Struggles With Cash Handling Efficiency

Wasted labor and shrinkage were affecting Verizon Wireless stores. AccuBANKER identified in the operated stores cash handling procedures that could be optimized and simplified. For instance, in a store with 4 cash registers and $4,000 cash handling per day, the Office Manager consumed approximately 4 hours preparing and balancing tills, closing, grouping and wrapping the bills for deposit. At random, margin errors and counterfeit losses affected the bottom line by % 0.3, raising operating costs even more. Several times, managers had to work overtime to adjust and verify any conflicting cashier balance. Submitted by AccuBANKER