Volumatic has been honoured in this year’s Queen’s Awards for Enterprise, winning the Innovation Award for its revolutionary cash handling product, CounterCache intelligent (CCi).
The CCi is used at the till point in retail and other outlets to validate, count and store banknotes at the point of sale. It improves the security of across-the-counter transactions, eliminates errors and can cut cash handling by up to 75 per cent.
Managing Director Colin Amos said, “We are extremely proud to have been honoured with this prestigious award which is testament to the hard work and dedication of everyone in the Volumatic team.”
Volumatic has spent over 30 years supplying cash handling products to many household names on the high street. Prior to the CCi, the company’s core products focused primarily on two areas: equipment for the secure storage of cash at the point-of-sale, and cash counting devices which are used predominantly in the back office. Volumatic’s innovative idea was to transform the way cash is processed by integrating these two business processes into one.
Traditionally, once a banknote has been handed over during a transaction it can be touched and counted several times before reaching its final destination. With the CCi, once a banknote has been deposited at the point of sale, it need not be touched again until it reaches the cash centre or bank.
“With this innovation, Retailers are now able to make huge time savings which would otherwise be spent manually handling and counting cash. Banknotes are processed automatically and the security of the CCi helps limit cash exposure thereby reducing shrink. Notes are stored in the CCi, in a tamper-proof TruPouch, also acknowledged in the Queen’s Award.
Commercial Director James Harris commented “Innovation is at the core of everything we do at Volumatic – we recognise that innovative products, people and processes are what drive our business forward and create our competitive advantage. We work really hard to continually understand the needs of our customers better, so that we can develop products which will be relevant both today and in the future. To be recognised for this with the Queen’s Award for innovation is a fantastic achievement for our business.”
Source: Volumatic
