Retailers Increase Cash Flow and Reduce Cash Shrinkage with Unisys SmartCash Vault SolutionBLUE BELL, Pa., July 17, 2009 – Retailers rely on cash as the cornerstone payment mechanism for their business, and with new technology from Unisys Corporation (NYSE: UIS), those retailers can now gain near-immediate credit from their cash deposits without going to the bank.
At the Independent Armored Car Operators Association conference being held today in Boston, Unisys announced SmartCash Vault, a new line of intelligent safes that incorporate currency recognition technology. The SmartCash Vault solution allows banks to provide provisional credit to a retailer for cash deposits made to the retailer’s safe - hours or days sooner than has been the case in the past.
The solution tracks deposits, verifies amounts deposited and allows the bank to quickly credit the retailer, eliminating delays associated with transporting currency. Unisys is collaborating with Armor Safe Technologies of The Colony, Texas to develop and deliver a turn-key solution, including integration, deployment, on-site maintenance, and 24-hour help desk support.
Unisys SmartCash Vault technology provides retailers the ability to deposit currency and checks into an on-site safe. Cooperating banks can provide immediate credit for the deposit, allowing the retailer to increase its cash flow and reduce cash shrinkage by putting its daily receipts to work immediately. Retailers typically experience cash shrinkage of 1% or more of gross sales, negatively impacting their profit margins.
Unisys will offer the solution through armored carriers to retailers and banks looking to augment their cash management offerings. “When it comes to profitably managing cash, every second counts,” said Alan Howard, president, Unisys Payment Systems. “Our new SmartCash Vault solution provides clear benefits to retailers and carriers, and complements services for banks. Certainly large banks see the benefit, and this can also be a game-changer for community banks, allowing them to compete on an equal footing with larger banks.”
Total Armored Car of Detroit, MI, plans to deploy the solution to leading retailers and banks in Michigan as a premium service offering. “This solution is a win-win for all parties,” said Jim Barr, executive vice president of Total Armored Car of Michigan. “Cash and checks are secured like never before, cash availability is increased, and the retailer has far better control and security of their cash.”
About Armor Safe Technologies About Unisys Unisys is a worldwide information technology company. We provide a portfolio of IT services, software, and technology that solves critical problems for clients. We specialize in helping clients secure their operations, increase the efficiency and utilization of their data centers, enhance support to their end users and constituents, and modernize their enterprise applications. To provide these services and solutions, we bring together offerings and capabilities in outsourcing services, systems integration and consulting services, infrastructure services, maintenance services, and high-end server technology. With approximately 23,000 employees, Unisys serves commercial organizations and government agencies throughout the world. For more information, visit www.unisys.com.
### Contacts Jim Kerr, Unisys, 215-986-5795 |
