Understanding Impacts of Technology,Process Changes,and Organizational Controls to Improve the Cost of Cash in Retail Stores

Abstract

The emergence of self checkout systems and transaction kiosks present an opportunity for retailers to redesign the cash management process and identify more efficient and automated solutions to improve performances within each step of the system. International and domestic retail companies from various industry segments are taking different views of opportunities to reduce the cost of cash. A socio-technical systems approach provides a foundation for anchoring predictions in process improvements and task automation and a context to identify impacts of step improvements in the Cash Flow Process. This paper provides an overview of a framework, findings from cash office operations studies of domestic and international retailers, and performance benchmarks for repetitive tasks of till balancing and till re-sets to help evaluate proposed changes in store cash office operations.