Two areas that contribute to the delivery of profitable retailing are focused around business efficiency and optimizing resources. This means driving for continuous improvement in terms of utilization of staff and ensuring that in store processes are highly tuned and effective.
With up to 60% of transactions still paid for by cash in many economies, the process of cash management is of prime importance across the retail enterprise. This can be challenging and potentially costly and ensuring that cash is handled efficiently is therefore a retailing priority.
For retailers cash handling can be labor-intensive, involving complex routines that can also leave the business open to potential loss through inaccurate handling or even theft.