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Retailers: Are Smart Safes a Bright Idea?. Introductions. Tim Smith Corporate Controller Binny’s Beverage Depot. William Burback Vice President Global Treasury Management U.S. Bank. James Poteet Senior Vice President Business Solutions Brink’s U.S. Binny’s Beverage Depot.

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Presentation Transcript
introductions
Introductions

Tim Smith

Corporate Controller

Binny’s Beverage Depot

William Burback

Vice President

Global Treasury Management

U.S. Bank

James Poteet

Senior Vice President

Business Solutions

Brink’s U.S.

binny s beverage depot
Binny’s Beverage Depot
  • Upscale wine and liquor store with selection of 50,000+ items
  • 28 locations throughout Chicago area
  • 800 employees
  • 2011 revenue of $250 million
reduce cash supply chain costs
Reduce Cash Supply Chain Costs

Source: Brink’s proprietary customer research

binny s desired outcomes
Binny’s Desired Outcomes
  • Get manager back to managing the business
  • Eliminate the risk of multiple cash touch points
  • Improve employee safety and enhance overall risk management
  • Improve information visibility & quicker cashier balancing
  • Improve banking relationships through efficiency
market solutions available to address the funds timing gap
Market Solutions Available to Address the Funds Timing Gap
  • Remote Deposit Capture (RDC)
    • On-Site Electronic Deposit – enables customers to deposit checks electronically from the convenience of their office using a PC and a desktop scanner
    • Checks may be processed as an image check deposit or converted to ACH
    • Customers are able to make deposits as soon as they are received, eliminating desk float and the need to transport checks to the bank
    • ACH processing allows customers to further maximize funds availability
  • Remote Currency Capture (RCC)
    • Remote Cash Deposit – Armored car smart safe solution with daily credit to bank
    • Cash deposits are electronically posted to the bank on a daily basis, resulting in better availability of collected funds
    • Faster availability of cash deposits makes reconciling more efficient
added benefit to binny s
Added Benefit to Binny’s
  • Better availability for validated cash and imaged checks
  • More efficient/timely corporate reconciliation process
  • Better deposit tracking enabling proactive funds monitoring