Cash Office Technology: Australia Leads the Way - June 2008

Once again, Australia is well ahead of the rest of the world in implementing technological solutions. There appears to be a collective 'can do' attitude in Australian industry which is sadly lacking in some of our own. Perhaps it's the pioneer culture or maybe the sheer distance between them and the rest of the western world which leads to a competitive need to stay ahead of the game. Whatever it is, we in the UK can learn lessons and CMS is playing an active role in enhancing the benefits achieved by Australian retailers since the introduction of new cash office technology solutions in the late 1990s.

A CMS team is actively developing software solutions with a view to achieving supply chain benefits including quicker 'day one' value, reduced CIT costs and lower cash processing charges. As in many western countries, the Australian cash banking market is remarkably similar to the UK, with few suppliers and logistical restrictions. Nevertheless, banks such as Westpac and carriers such as Chubb have actively embraced the new technology. This is due to the enthusiasm of Australian retailers for automated solutions because they are seeing proven productivity gains and reduced cash losses.

CMS is flying the flag by bringing specialist software to the Australian market. So far software solutions have concentrated on reporting information. CMS software actually manages: it manages cash in transit, coin holdings and banking costs.

As this technology becomes ever more widely used in the UK, the experiences of Australian retailers can be utilised to ensure smooth implementation and, combining with CMS software, UK retailers can look forward to major improvements in the costs of cash.

For more information on Cash Office Technology or CMS Cash Management Software please contact: Elley Frost on +44 (0)1925 420 785 or efrost@cashmanagement.co.uk or Ian Johnson on +44 (0)1925 420 789 or ijohnson@cashmanagement.co.uk