Cash Cycle Management

Continued Demand for Cash.

Cash can be expensive, particularly for banks and retail companies that need to manage large sums of cash in their branches and stores. A study by the European Payment Council estimates the cost of handling cash in Europe at about €50 billion a year. Market research conducted by Wincor Nixdorf puts the annual costs in Germany alone at €11.9 billion, with the retail industry accounting for €7.7 billion and the banking sector €4.2 billion. Consumers still like to pay in cash. In Europe, for instance, eight out of ten transactions are made in cash. Cash transactions are expected to rise in the short term as a result of the economic crisis. In fact, the level of cash in circulation and cash withdrawals from ATMs is rising already.

Optimizing the Cash Cycle.

Although cash handling is labor-intensive and generates costs, those costs can be reduced significantly by automating processes and tasks. Wincor Nixdorf views the entire cash cycle as a special form of a delivery and value chain with one main objective: to provide the right amount of cash at the right time and with as few resources as possible. This requires an optimal management of cash in branches and stores as well as in the self-service systems (Glossary)  of banks and retail companies. The goal is to relieve staff of manual cash tasks, such as counting, sorting and bundling cash.