Downloads

Case Study: Verizon Wireless — Struggles With Cash Handling Efficiency

AccuBANKER

File Size: 146.4 KB Estimated Download Time: < 1 min

Description

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