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Beyond the Smart Safe

Beyond the Smart Safe

To compensate for current labor shortages, companies of all sizes are investing or increasing their investment in automated practices that allow their businesses to remain buoyant during periods of high turnover.

A recent survey reported that 83% of executives say their companies already use automation tools, and 78% are likely to invest more in automation to offset labor shortages.

Automation can particularly benefit businesses that manage cash through improved safety measures, customization, and cash recycling. Discover the benefits of automation and how processes like compact cash recycling can improve your business.

How Does Automation Benefit Businesses That Manage Cash?

Businesses that manage significant amounts of cash face unique struggles and requirements. Cash automation can reduce a company’s reliance on manual cash counting, centralize reporting and analytics, and improve security so companies can thrive even during labor shortages.

Manually counting cash requires extra manpower and comes with a high risk of human error. The time and energy spent counting, handling, and safeguarding cash takes away from customer interactions, reducing sales. Automated cash management allows employees to spend more time with customers or focus on other essential growth areas.

Built-in software offers automation that adds layers of communication, visibility, and accountability to your cash management cycle. Automation software can help:

  • Improve cashier efficiency
  • Deliver transaction data to banks
  • Deliver transaction and status info to analytics platforms
  • Deliver data to POS apps for real-time reconciliation
  • Centrally manage all devices
  • View cash position for all locations in real-time
  • Deliver accurate information to stakeholders

Cash automation also means fewer people handle the cash, which generally decreases overall losses.

Back-Office Management Pain Points for Cash Businesses

Cash businesses that have not implemented automation strategies, and those whose current automation strategies are insufficient, may fall victim to the three main challenges facing most cash businesses: low efficiency, loss of funds, and lack of compliance.

  • Efficiency: Cash businesses that spend a lot of time counting, verifying, and depositing cash are not operating at peak efficiency and may experience revenue losses and fewer growth opportunities.
  • Security risk: With cash, there is always an increased risk of exposure, which can lead to loss or security risks like stolen funds. Banks and financial institutions can benefit from automated machines that report who used the device, when, and how much cash they accessed.
  • Compliance: Automation also allows businesses to customize their cash management system, which can help companies maintain or achieve compliance and produce compliance reports.

To combat these pain points and streamline back-office management, companies of all sizes have invested in, or improved cash recycling approaches. Cash recycling is an essential strategy for any business hoping to remain profitable during periods of high turnover and market volatility.

Why Compact Cash Recycling is Essential

Compact cash recycling allows smaller businesses to reap the benefits of cash recycling. This approach allows smaller companies access to software and benefits that only larger companies typically enjoy.

Through compact cash recycling, small businesses can also benefit from improved efficiency, reduced security risks, and increased compliance. CIMA manufactures a comprehensive and diverse range of back-office cash recycling solutions that can help businesses of all sizes reduce the cost of handling cash.

CIMA’s INLANE cash recyclers feature a compact design that allows companies to place them under counters where they will not interfere with workplace operations and are easy to access when needed. Due to their compact architecture, they provide the same benefits that larger companies enjoy from larger cash recycling solutions.

CIMA’s extensive product line includes options for all budgets, with offerings that span fit-for-purpose affordability to feature-rich, higher-capacity units. CIMA offers entry-level, mid-range, and high-capacity solutions so your company can choose the right option for its specific needs.

Along with physical tools like cash recyclers, CIMA delivers three categories of cash automation software. On-device software (CAOS) helps employees streamline their daily tasks, while integration software delivers data from machines to a third party.

CIMA’s device management platform allows you to access real-time status reports to manage, monitor, and update all your devices from one central location.

Cash Recycling with CIMA

Compact cash recycling can streamline the cash management process of your business and help reduce costs and human error along the way. CIMA offers a range of cash-recycling products and software that will allow your company to capitalize on the many benefits of automation.

Contact us for more information about our products and services.

Security

Security Concerns for Cannabis Dispensaries

The legal cannabis industry continues to grow, with storefronts popping up in retail centers across the country. With growth has come a host of security concerns for dispensary operators. Any operation with a lot of cash on hand is vulnerable to theft. Criminals have taken notice of the dual attraction of a high-value, easy-to-transport product and an abundance of cash on site. Robberies at medical marijuana dispensaries, recreational stores, and cultivation sites have skyrocketed. From a business perspective, loss prevention is a significant factor that impacts the bottom line. From a compliance perspective, failure to accurately account for cash and inventory can jeopardize the license. Most cannabis industry theft and shrink fall into one of three categories:

Internal Theft – Security experts in the cannabis industry say that the lion’s share of loss is because of employee theft. Factors such as understaffed dispensaries, loose supervision, sloppy bookkeeping, lax controls, and even unlocked vaults can present opportunities for theft. Identifying internal theft is particularly challenging for cannabis retailers because they deal with large amounts of cash and a product that is easy to swipe.

External theft / Robberies – 2022 has seen a continuing increase in the number of robberies at marijuana businesses. Dozens of cannabis businesses in San Francisco were robbed in a wave of attacks. Washington state has reported more than 80 armed robberies, and Oklahoma police are investigating a string of more than ten dispensary robberies. Businesses that don’t secure their cash, have predictable cash transfers, or have minimal security can quickly become targets for smash-and-grab or even more dangerous robberies.

Poor tracking – Dispensaries that don’t carefully monitor their cash intake and outflow may be losing money to “shrink” without even being aware of how it is happening. It may be theft, it may be human error, it may be an accounting mistake, or it may be something else entirely. 

Ways to Combat Theft

The legal cannabis industry continues to grow, with storefronts popping up in retail centers across the country. With growth has come a host of security concerns for dispensary operators. Any operation with a lot of cash on hand is vulnerable to theft. Criminals have taken notice of the dual attraction of a high-value, easy-to-transport product and an abundance of cash on site. Robberies at medical marijuana dispensaries, recreational stores, and cultivation sites have skyrocketed. From a business perspective, loss prevention is a significant factor that impacts the bottom line. From a compliance perspective, failure to accurately account for cash and inventory can jeopardize the license. Most cannabis industry theft and shrink fall into one of three categories:

Internal Theft – Security experts in the cannabis industry say that the lion’s share of loss is because of employee theft. Factors such as understaffed dispensaries, loose supervision, sloppy bookkeeping, lax controls, and even unlocked vaults can present opportunities for theft. Identifying internal theft is particularly challenging for cannabis retailers because they deal with large amounts of cash and a product that is easy to swipe.

External theft / Robberies – 2022 has seen a continuing increase in the number of robberies at marijuana businesses. Dozens of cannabis businesses in San Francisco were robbed in a wave of attacks. Washington state has reported more than 80 armed robberies, and Oklahoma police are investigating a string of more than ten dispensary robberies. Businesses that don’t secure their cash, have predictable cash transfers, or have minimal security can quickly become targets for smash-and-grab or even more dangerous robberies.

Poor tracking – Dispensaries that don’t carefully monitor their cash intake and outflow may be losing money to “shrink” without even being aware of how it is happening. It may be theft, it may be human error, it may be an accounting mistake, or it may be something else entirely. 

Let us show you how we can reduce the cost of managing cash. Contact us for a demonstration.

Cannabis Industry

CIMA’s 5 Ps of Doing Business with the Cannabis Industry

Since the first recreational dispensary opened in Colorado in 2014, the retail cannabis industry has steadily gained momentum across the country. There are more than 7,000 dispensaries across the United States and over 12,000 cultivation licenses for growers. The industry generated $26.5 billion in sales in 2021 and is projected to top $32 billion in 2022. CIMA is proud to be part of this industry, and we are guided by our 5Ps of doing business with dispensaries:

Practices

With the staggering amount of money to be made supporting the cannabis industry, it is no surprise that many companies display a green leaf on their brochures and promote their services and products to dispensaries and growers.

CIMA is different. We understand that the cannabis industry needs dedicated techniques, tailored recommendations, and industry-specific procedures. To best serve the needs of the cannabis industry, CIMA approaches each client situation without a preconceived notion because we realize that no two businesses are the same. Learning the specific challenges of each establishment is integral to CIMA’s multi-step approach:

  • Discovery: We dig deep to uncover a particular cannabis business’s unique challenges. Cash handling procedures, cash volume, security concerns, number of locations, reporting requirements, and many other variables are important factors in determining the best suite of solutions.
  • Consultation: We draw on our industry experience to identify possible products and services that meet the business’s cash handling needs and budget.
  • Collaboration: We work with our engineers, installers, the customer, and trusted CIMA certified partners to implement the best configuration of hardware, software, and ongoing support that will increase efficiency and reduce the cost of handling cash.

If you’re like me, I was going crazy dealing with the cash in my retail locations. My life changed after I put the CIMA cash machines in. Cash is secure; my staff is on the floor with customers, not dealing with cash issues in the back office. I would never open a store without them.” -Tom Denha, CFO/CEO of JARS

Partnerships

CIMA is dedicated to helping the cannabis industry thrive. As a heavily involved manufacturer, CIMA is always working with our partners to strategically dive deep into each client. Whether engaging with partners and clients, networking at industry events, or staying informed about cannabis-related legislation, CIMA has proactively built relationships and developed expertise in the sector. Our customers benefit from our extensive experience working with cannabis retailers and our industry connections. We have a number of partnerships and are always exploring new partner relationships as we focus on finding the most knowledgeable and respected service companies and industry minds, investing in our partners as a result.

EMC
CIMA is active with The Emerging Markets Coalition (EMC), a non-profit organization that advocates for the normalization, electronification, and increased accessibility to complete financial services for cannabis-related industries. EMC members are cannabis-related industry players who proactively drive relationships and workable legislation, regulation, and public perception. CIMA supports EMC’s strategy of making cash transparent, traceable and taxable.

MJ Bizcon
CIMA is excited to join other innovators serving the cannabis industry again at MJ BizCon in Las Vegas this November. The premier event is attended by over 35,000 cannabis executives worldwide. Professionals from all levels gather to make deals, hear the latest industry trends and insights into the current political landscape, source the right solution providers, and gain knowledge from leaders in the industry.
Visit our booth in the South Hall Upper #10125.

Are you interested in learning more about CIMA’s involvement in the cannabis industry or exploring ways to partner? Click here.

Products

One thing that has not changed in the cannabis industry is the dependence on cash. Due to federal regulations, most of the billions spent on recreational marijuana are cash-only transactions. Dispensaries must keep track of every dollar and maintain meticulous records to remain in compliance. CIMA offers a broad range of solutions that have proven to be effective tools for the cannabis industry:

    • Point-of-sale cash recycling kiosks
    • Back-office recyclers
    • Smart safes
    • Cash handling machines
    • CIMA software: C-Link, CAOS

CIMA machines are equipped with dedicated software that sets user permissions, creates electronic records of all transactions and is configurable for specific needs.

Please click here for more information on CIMA’s cannabis line of products and services.

People

Vik Devjee is the Vice President of CIMA America, and he has collaborated with cannabis clients on their cash handling procedures from conception to completion. In this role, Vik has helped dispensaries and growers navigate the complex cash handling regulations of the industry. Vik recounts how the sector has grown, and his early experience with the cannabis industry:

“Learning about the cannabis business has been exciting. You can watch a whole industry emerge from the shadows and into the legitimate business space. It’s very community-based and has a spirit of grass-roots cooperation.”

Vik knew what was needed as this business sector grew for CIMA.

“I realized that it was essential for CIMA to find someone who was laser-focused on this sector – someone who could lead the charge in customer service and advocate for the cannabis industry, as well as help them manage their cash handling challenges. And I’m happy to say that we have found that person. We recently welcomed Julie Cudd as our Business Development Manager for the cannabis sector.”

As CIMA’s Business Development Manager for the cannabis sector, Julie will be responsible for developing strategy and support initiatives for cannabis businesses throughout the United States. Julie approaches the challenge from a consultative and collaborative standpoint, and her ultimate goal is to help businesses thrive, not just sell CIMA’s products and services.

“As a family-held company with global recognition as a leader in cash management solutions, CIMA’s emphasis has always been on relationships,” says Vik. “And Julie has the perfect personality to develop those relationships.”

“I’m thrilled to be part of this business,” says Julie. “The people who make up the cannabis sector are the most passionate industry experts. It is a pleasure to work with them. I can draw from my background in fintech, retail management, security, cloud technology, hospitality, payments, and training. I’m excited to help cannabis businesses reduce their cost of managing cash, but more than anything, I value these businesses and love this role because it allows me to be a trusted business advisor in an industry that often deals with a lot of grey. Cash management is painful for cannabis businesses. My goal is the make that the most simple streamlined part of their business.”

To contact our team of dedicated professionals, or to learn more about Julie or Vik, click here.

Purpose

CIMA is dedicated to helping businesses reduce the cost of managing cash. We accomplish this through continuous investment in innovation, best practice manufacturing, and collaboration with our worldwide business partners.

For cannabis dispensaries, CIMA works with business operators to reduce time, control costs, increase revenue and accuracy, and increase security when managing cash. Our solutions are delivered through a network of highly capable partners to implement and support our solutions for the cannabis industry. CIMA Cash Handling America supplies a broad range of solutions to businesses across Banking / Financial Institutions, Retail, Hospitality, and Gaming – not just cannabis.
To learn more about CIMA, click here.

TCRs Improve the Banking Experience

The face of the retail bank branch is undergoing a drastic shift. Brick and mortar banks and credit unions are shrinking from the typical 8-teller operation to 2 tellers. Now, 700-900 square foot neighborhood branches with open floor plans replace the sprawling lobbies and private offices. One thing that hasn’t changed is that bank tellers are still the front line of customer interaction. Instead of simply handling transactions, tellers are now responsible for branding the bank, selling products/services, and educating visitors. Deploying or upgrading their Teller Cash Recyclers (TCRs) improves the staff and customer experience.

What is a Teller Cash Recycler (TCR)?

teller cash recycler, or TCR, acts as both a cash storage vault and an automatic drawer that sits at the teller line. Each TCR typically supports two tellers. Since the introduction of TCRs to the market, the technology has improved and the cost has decreased. Today’s TCRs efficiently handle a range of teller and vault transactions with near 100% accuracy:

  • Accepts cash for tellers
  • Sorts bills by denomination
  • Screens for counterfeits
  • Counts and verifies the total
  • Stores large volumes of notes
  • Dispenses or recycles notes
  • Maintains an exact current balance
  • Runs internal audits

How TCRs Help Bank Branches

Investing in TCRs provides almost immediate benefits for bank branches, employees, and customers. Mark Suacillo, the VP of IT/Security & Facilities at CCFCU, shared his credit union’s experience since installing TCRs. CCFCU is a California-based credit union that serves the employees of the Co-Op Market Chain, Alta Bates hospitals, and the faculty, staff, and students of UC Berkeley. According to Suacillo, the new TCR machines improved the customer and the employee experience.

“Adding the two new CIMA AST7000 TCRs allows our tellers to spend less time manually counting money and more time speaking directly with members – discovering other areas where the credit union can help them with their financial needs,” he says.

In addition to freeing up tellers to engage with customers, the TCRs also helped the bank save money on overtime.

“Instead of an additional hour after closing to balance cash each day, employees are out the door in as little as 15 minutes,” Suacillo explained.

For banks and credit unions, a TCR offers numerous benefits over traditional cash drawers:

  • Saves labor costs by reducing the number of tellers needed
  • Saves time by automating transactions
  • Increases the accuracy of all transactions
  • Improves the customer experience
  • Reduces fraud and shrinkage
  • Secures cash for recycling
  • Decreases number of vault visits

What’s the right TCR for you?

The cost of implementing new TCRs has decreased significantly; additionally, banks can depreciate the investment over time. If your institution is interested in a new installation, then the volume of cash, customer traffic, and branch layout are factors to consider when selecting the right TCR. If your tellers are working with first-generation TCR machines (circa 2014), you are likely facing the end of their technical support and parts availability. Replacing/upgrading these machines will be necessary before they become obsolete or inoperable. Banks operating a fleet of devices across multiple locations should look for solutions that offer remote visibility, analytics, device management, and reporting.

CIMA TCRs

CIMA manufactures a range of TCRs that suit any retail banking environment. For institutions that don’t need “bells and whistles,” CIMA offers an entry-level series that provides a functional and cost-effective bank branch recycling solution. CIMA’s AST7000 is an affordable, fit-for-purpose recycler with eight rolled storage recycling drums. The AST7016 offers flexible recycling functionality with 16 rolled storage recycling drums and a capacity of up to 8,000 notes. The 7000 series features under-counter or behind-the-teller line installation.

CIMA’s feature-rich AST9000 is ideal for large volume and cash-intensive bank environments. The cassette-based recycling and storage technology provides much higher capacity and speed. The AST9000 is designed with a look and feel suited for open-plan branch layouts.

CIMA includes two software solutions in its banking portfolio. CashUp is the on-device teller application providing transaction interaction in a stand-alone environment. C-Link is a remote device management platform designed for larger businesses with multiple TCR machines in different locations.  All CIMA TCRs are also compatible with leading middleware software providers for complete core integration.

About CIMA – America

CIMA serves its U.S. customers and partners by helping businesses reduce the cost of managing cash. CIMA Cash Handling America supplies a broad range of smart safes, back office/front of store recycling systems, and software to businesses across Banking / Financial Institutions, Retail, Hospitality, and Gaming. CIMA Cash Handling America, Inc. is based in Houston, Texas.

Cannabis and Cash: Best Practices 2022

Cannabis and Cash: Best Practices 2022

Legal cannabis is poised to become a $30 billion U.S. industry in 2022. At this point in the commercial cannabis timeline, only 18 states have legalized the plant for medical sales, recreational use, or both. Unlike the earliest cannabis dispensaries, retailers entering the market today can hit the ground running. Businesses in the cannabis space can draw from examples of successful retail programs, best practices, equipment, and vendor partners with relevant experience in the industry.

Although the retail cannabis industry has become more sophisticated, streamlined, and experienced, one thing has not changed – the use of cash for most transactions. The SAFE Banking Act protects financial institutions and other professional service firms from federal liability for conducting commerce with legal cannabis businesses. However, the Senate ultimately removed the SAFE Banking Act from the December 2021 defense spending bill. Bipartisan cooperation at the federal level is unlikely this year which means that cannabis dispensaries will continue to operate almost exclusively in cash, at least for the near future.

Several dispensaries now utilize automated cash handling machines that integrate hardware and software for a seamless cash management solution. The cash automation systems best suited for cannabis outlets include back-office cash recyclers and smart safes. A reliable cash automation system from a trusted manufacturer checks many boxes for cannabis retailers:

Complies with regulations

Cannabis businesses are highly regulated, and accurate record-keeping is critical to meet compliance. Dispensaries must keep track of every dollar and maintain meticulous records. By automating with cash management devices, dispensaries can produce accurate, auditable records of cash flow in the business. All CIMA cash handling machines equipped with dedicated software set user permissions, create electronic records of all transactions, and are configurable for specific needs.

Recycles and stores cash securely

Taking cash payments and returning change for every single transaction requires a large capacity of reserve bills and coins to use throughout the day. It is not safe or prudent for employees to shuttle cash to and from the safe to replenish or store money. A cash recycler not only secures cash like a safe, but it also dispenses bills. Machines like CIMA’s Platino or Diamante back-office cash recyclers allow dispensaries to reuse smaller denominations for change or replenish tills. Surplus bills securely stored in self-sealing stacking bags allow CIT companies to transport cash easily.

Reduces labor costs

Depending on volume, dispensaries using manual methods may have to dedicate two or more employees to spend hours on register reconciliation each day. With the current labor shortage, automation makes more sense than ever. CIMA cash handling machines can dispense floats, reconcile tills and track cash quickly and accurately. The dispensary can focus employee attention on customer service and sales activities instead of cash management.

Improves security

Cash-intensive businesses are targets for crime. From outright smash-and-grab robberies to employee skimming, the risk of theft is very high. Cash recyclers and smart safes deter crime and keep records of all users and transactions. Counterfeit note detection is built into the machines and adds another layer of protection from fraud.

Provides industry knowledge from experienced partners

The market is crowded with companies wanting a piece of the cannabis pie. Identify vendors and partners with experience and expertise in the cannabis space. Look for a track record of delivering solutions to the cannabis industry and excellent customer support. By partnering with experienced companies, new and established cannabis businesses can benefit from industry knowledge and machines suited to the cannabis marketplace.

CIMA has worked with many dispensaries. Learn more of how we can help you. Contact us to discuss options. 

5 Shifts Driving Cash Automation

The U.S. economy is struggling to recover after more than two years of upheaval. As the pandemic recedes, the nation faces several social and economic shifts. These changes will steer the direction of commerce and shape our new normal. Hospitality, fast food, gaming, grocery, cannabis, and retail banking outlets must pivot to accommodate new customer and worker behaviors. Here are five shifts driving cash automation:

Labor Shortages

In the latter half of 2021, the “Great Resignation” rippled across many sectors. The phenomenon decimated lower-paying hospitality and retail jobs. By the time the dust settled, over 1 million hospitality workers and nearly 5% of retail workers had quit. Retailers report that it is now almost impossible to hire enough staff to keep up with business.

The cash automation solution:

Retailers can deploy cash automation machines quickly and fill many of these menial jobs. Front-of-house transactions and backroom counting activities are more reliable, accurate, and faster when done by machines. Cash handling devices such as recyclers, smart safes, and kiosks remove the unpredictability of human labor and reduce employment costs. Businesses can offer better wages to a much smaller workforce while improving the bottom line.

Increases in Crime

From coast to coast, criminal activity is increasing at an alarming rate. Businesses are reporting a surge in crimes from armed robbery to cash shrink from employees. Even counterfeit operations are in high gear, churning out near-perfect reproductions of U.S. banknotes.

The cash automation solution:

Cash automation machines act as deterrents to criminal activity in many ways. Armed robbers don’t want to risk the time needed to break into smart safes, cash recyclers, or kiosks. These machines accurately track money flow inside the business, allowing managers to see which employee used the machine, total transactions, and total cash deposited or withdrawn. Shrink from theft or human error is immediately visible. Built-in scanners also detect counterfeit notes and separate them for removal.

Inflation

Although financial experts proclaimed that inflation would be transitory, it has surged to historic levels with little relief in sight. Everything from materials to labor is more expensive than ever before.

The cash automation solution:

Cash recycling hardware is a fixed investment that will last for many years. A self-service kiosk will not ask for a raise or drive up health insurance premiums. Automating all cash handling activities is a wise investment that will quickly pay for itself.

Increased Tech Acceptance

The pandemic sped up the acceptance of automation, self-service, and technology in retail spaces. Customers and workers are less resistant to using machines to complete transactions. Even older Americans have become accustomed to using technology to make purchases. Retail outlets that do not recognize this shift in consumer attitudes may get left behind.

The cash automation solution:

By now, most consumers are familiar with the process of using a point of sale kiosk. Many people prefer the self-service option. These customer-facing kiosks require fewer tellers to oversee transactions, saving money without diminishing service. Workers can spend more time on high-value activities such as interacting with customers or upselling merchandise.

Touch-Free Transactions

Many nations worldwide are beginning to look at Covid as endemic instead of pandemic and are adjusting their regulations accordingly. However, many of the lessons and habits from the pandemic may take time to recede. Regular cleaning of surfaces, aversion to contact, and a preference for “touch-free” options will likely remain for some time.

The cash automation solution:

Certain customers may continue to avoid excessive touchpoints, particularly during the annual cold and flu season. Customer-facing kiosks and self-service checkout stations give customers and workers a touch-free option to complete their transactions.

CIMA Announces New Partnership with DBSI+CFM

FOR IMMEDIATE RELEASE

Houston, TX, February 2021 –CIMA Cash Handling America, Inc. and DBSI+CFM are pleased to announce a strategic partnership in the US banking and finance cash management marketplace. This relationship enables DBSI+CFM to provide its clients with CIMA’s Teller Cash Recyclers including the AST9000.

“CIMA has had a long-standing relationship with the CFM group integrating our teller cash recyclers (TCRs) to banking core applications. We are extremely excited to now be working with DBSI, CFM’s long-time partner, on expanding their teller cash recycler (TCR) portfolio,” states Vik Devjee, Vice President of CIMA Cash Handling America.

“We work to give our clients the most choices in hardware to fulfill their vision for the branch of the future. We are excited to include CIMA products as an option for our clients,” states John W. Smith, CEO at DBSI+CFM.

About DBSI+CFM 

DBSI designs and builds exceptional branch and headquarter environments for Financial Institutions with expertise in design-build, technology, and delivery. CFM drives transformation in banking through software that integrates core banking systems with branch technology. Together, we help banks and credit unions create highly efficient, profitable spaces with a uniquely smarter experience. With a full suite of technology solutions built upon highly resilient core integrations, DBSI+CFM enables Universal Associates, self-service, digital client engagement, robust analytics, and much more. To learn more, visit www.dbsi-inc.com and www.whycfm.com

Avivatech Partnership

CIMA Announces New Strategic Partnership with Avivatech

Houston, TX, January 2021 – Avivatech, LLC and CIMA Cash Handling America, Inc. are pleased to announce a strategic partnership in the US retail cash management marketplace. This partnership is the result of CIMA’s long-lasting relationship with Benchmark Technology Group, which was acquired by Digital Check Corp., in February 2021.  Shortly thereafter Avivatech was announced as a cash automation solution provider.

This relationship enables Avivatech to provide its clients with CIMA’s innovative back-office recycling products such as its self-sealing stacking bag technology across its cash recycling and smart safe portfolio.

“CIMA and AvivaTech represent two of the industry’s foremost innovators. Combining Avivatech’s software solutions with CIMAs innovative cash management products will offer retail environments with a seamless back-office cash management solution,” states Vik Devjee, Vice President of CIMA Cash Handling America.

”I am pleased to have a company like CIMA embrace our retail cash automation strategy and be willing to partner with us on bringing state-of-the-art hardware and software technologies to the marketplace”, according to Jeff Hempker, President at Avivatech.  “Together, our products help retailers automate and track their cash wherever they count.”

About Avivatech

Avivatech delivers a comprehensive solution of the best products, training resources, and dedicated support technicians for cash automation and check automation management for banking and retail environments. We help our clients advance and achieve their goals through our adaptive custom solutions and services. avivatech.com

 

 

2021

2021 End of Year Message

As we get close to the end of another year, I want to take a moment to wish all our partners, mutual CIMA clients, staff (both in-house and outsourced) a Merry Christmas and Happy Holidays. Thank you all for your support, commitment, and partnership in 2021, and we look forward to growing with you in 2022.

December is always a crazy month, isn’t it? We reflect on the previous months, start planning for the New Year, rush and hustle to close the year off as strong as possible, celebrate our wins, etc. So, as we end 2021 and plan for 2022, I wanted to reflect on the year gone by and share some thoughts for the year ahead.

Reflection

The first thing that comes to mind is gratitude. Despite continued COVID issues and its widespread impact on business, we continued to deploy our technology at a consistent pace throughout the year. 2021 was filled with talk about supply chain challenges and shortages of products across so many segments. Thankfully our business continued to produce and supply machines with minor supply disruptions.

I am also grateful for the record number of new companies that we are proud to call “CIMA Partners.” It’s so good to see our brand, innovation, and solutions resonating so well in the US market that partners see value in working with us. We look forward to engaging with you all closely to enable your teams and deliver best-in-class cash automation solutions across retail, hospitality, gaming, and banking.

Last but certainly not least, I am grateful for my team. For me, my team is made up of my local team in Houston, my team inside our outsourced relationships for marketing, legal, and accounting, and of course, my extended team in Italy made up of our family owners and a support team of the smartest people in the industry I have ever known. Nothing is possible without this network of talented people all on the same mission for CIMA to become the leading cash automation brand in the country. No doubt we will get there!

2022…Here we come!

What excites me every day is the amazing innovation that continues to come out of our team in Italy. Next year will see a huge focus and, with the help of our partners, the adoption of our technology portfolio across some exciting new markets. 

Firstly, our customer-facing range of cash recycling solutions is building momentum, and we will see several new deployments in segments we typically have not participated in. Some of the seeds we have planted in 2021 will undoubtedly bear fruit in 2022 as projects mature and we go from pilot to rollout.

We will continue our relentless mission of helping the market understand, appreciate, and embrace the value of automating the “last mile” of cash handling…the cash pickup process with our self-sealing stacking bag technology. We have had some early adoption in 2021 with great success. This will undoubtedly continue as more retailers and CIT partners see the value of taking cash automation one step further and gaining even more efficiencies in their cash management processes. 

We have had an awesome year deploying several back-office note and coin recycling solutions. I am extremely confident this will continue in 2022 with continued demand from the cannabis sector and mid-sized grocery store.

Our Teller Cash Recycler portfolio for banks and credit unions remains a significant part of our business, and 2022 is set to be a massive growth year for us in this sector. Our AST9000 cassette-based unit will be fully certified across all major middleware providers, which will certainly allow us to penetrate the market further. 

And finally, I could not be more excited about expanding our software solutions. This year we enhanced our on-device software, CAOS, with several new features making it the most flexible and scalable cash automation device application in the market. Furthermore, we just launched C-Link Cloud, the next evolution of our device management, monitoring, reporting, and analytics platform. Previously available only as an on-premises solution, C-Link’s powerful platform capabilities are now available as a Software-as-a-Service (SaaS) subscription-based model. Customers will be able to gain enormous visibility and insights into the performance of their devices, flexible transaction reporting, and centralized, remote management of machines. This will deliver even greater returns on investment for our clients.

I look forward to some downtime over the next couple of weeks, and I am excited about where 2022 will take us. CIMA remains hyper committed to the US market with plans for greater investment in our team, products, and infrastructure to support our growth. Thank you for your partnership, and look forward to working with you all in 2022.

Vik Devjee, Vice President

Four T's of Cash Recycling

C-Stores and Small Format Retailers Benefit from the Four T’s of Cash Recycling

Convenience stores (c-stores) handle more cash transactions than many other retail categories and have long relied on smart safes to secure their cash on-site. Although cash recycling machines offer better automation and more features than smart safes, they have been out of reach for most small-format retailers due to their cost, size, and configuration. The good news is that cash recycling technology has evolved, and it is more affordable than ever for smaller retailers to upgrade from their smart safes. Newer models of ultra-compact cash recycling machines, such as CIMA’s Rubino solution, have a smaller footprint, making them ideal small retailers. Even c-stores that have never had any form of cash automation can jump straight to recycling now. Here are the four t’s of cash recycling and how you can benefit by upgrading to cash recycling technology:

TIME

Manually handling cash is time-consuming for any business. For c-stores, handling cash not only takes time but it adds the risk of theft and robbery. Employees must accept, sort, count, and secure bills and coins throughout the day and even into the night for 24-hour operations. Managing floats and preparing deposits also consumes time and requires management supervision. Depending on the size of the store and the volume of customers, the amount of time and resources spent handling cash can be considerable. By upgrading to cash recyclers, small denominations can be recycled, while larger denominations are held for deposit. C-stores can reclaim the time that employees spend counting, preparing, and securing cash.

TRANSPARENCY

Cash recycling machines are superior to smart safes when providing transparency into a store’s cash operations. The coin and banknote recycler takes in cash, then counts, sorts, and records it. The machine then recycles the cashback to the establishment for future transactions. User logins and employee permissions can allow managers to see which employee used the device, total transactions, and total deposits or withdrawals. This type of visibility avoids cash shortages and immediately resolves cash disputes. For businesses with multiple locations, a network of cash recyclers can provide real-time data of cash positions across the organization.

TRANSPORT

Transporting cash by armored car is expensive. By implementing cash recyclers, c-stores can cut down on armored car frequency, saving money on the armored car bill. CIMA’s system of self-sealing stacking bags is more efficient than traditional cash cassettes making pickup and transport by CIT companies fast and easy.

TECHNOLOGY

Without the right software, cash recycling machines are little more than metal money counters. CIMA products utilize CAOS and C-LINK to manage and monitor the devices. CAOS provides all the on-device capabilities for users to interact with the machine. C-LINK provides centralized reporting, analytics, and real-time status updates to help identify problems so they are resolved quickly. CIMA’s family of cash recyclers also communicates seamlessly with third-party services and platforms.

Want to learn more the four t’s will save you not only time, but money? Schedule a virtual demonstration.