Daughtridge Gas & Oil
Tidel Optimizes Safety and Security at Daughtridge Gas & Oil
Daughtridge Gas & Oil, are taming their cash management challenge with help from Sesami.
Business Objectives
As with many companies, customer service is paramount at Daughtridge’s stores. In fact, Daughtridge prides itself on prompt service delivery. But it also prides itself on store security and employee safety. These issues are just as critical to the company as outstanding customer service. Five years ago Daughtridge decided to look for a way to boost store security and employee safety. That’s when the retailer decided to take advantage of Sesami technology and its ability to secure and streamline existing cash processes.
Challenges
- Secure cash management solution that optimizes cash control.
- Efficient mechanism for accepting cash as quickly as credit and debit cards.
Solutions
- Setting up the new cash management system was a straightforward process for Daughtridge.
- They began by leasing one smart safe from Loomis as a trial run.
- Once they confirmed the safe's effectiveness, Daughtridge proceeded to install Tidel smart safes in all of its convenience stores.
- The deployment of Tidel smart safes was quick and easy in each store.
- By partnering with Loomis, Daughtridge can take advantage of the daily credit offered by Loomis in collaboration with their bank.
- Ballentine stated, "Daily credit was a gamechanger for us. Having our deposits credited early the next morning significantly reduced the amount of float needed to run our stores, directly impacting our bottom line. It makes a huge difference."
Results
Cash Management
Using Tidel safes simplifies Daughtridge’s cash management process by minimizing cash in tills during the day and securing deposits at night, with provisional credit provided by the bank promptly.
Accuracy Assured
An unexpected benefit of Tidel safes is their built-in accuracy and transparency, eliminating the need to track down missing money and ensuring immediate credit for deposits.
Operational Efficiency
Tidel smart safes streamline operations for Daughtridge by reducing armored car fees and store disruptions, thanks to secure, accurate, and efficient cash handling processes.
Background
With Sesami's help, Daughtridge created a cash management environment that has taken store security and employee safety to a new level—all while dramatically cutting costs, improving cash flow, and boosting employee productivity.
Previously, Daughtridge utilized drop safes in its stores. “At the end of the day our managers would drop off deposits at local banks,” says Keith Ballentine, Daughtridge’s vice president. “Then we partnered with Loomis to collect our cash deposits. They’d pick them up and drop them off at the bank. This end-to-end process proved cumbersome and expensive. So when we saw the opportunity to boost store security and employee safety while streamlining our cash management processes, we couldn’t pass it up.”
The Challenge
Simplifying Cash Management
With the old process, Daughtridge found that its store associates were taking up to two hours per day handling cash. This approach wasted precious time and subjected the process to human error. “Our associates would get bogged down in redundant counting of funds,” states Ballentine. “This proved time-consuming and open to errors. Installing the Tidel smart safes simplified our processes and accelerated our deposit preparations.”
But the process is a lot different now that we’ve installed the Tidel smart safes, says Ballentine. Cash management is much simpler, he adds. “Our present cash management system—driven by the Tidel smart safes—provides everything we want in a system, and then some. Now our associates spend less time counting money and more time helping customers. Installing the safes also made the stores more secure. Plus, not having access reduced the chance of a robbery.”
"Originally, I thought that adding the safes was just a minor change to our business. But the smart safes worked so well, they’re now an integral part of our business model. We wouldn’t even think about opening a location without one.”
The Solution
Plans To Expand Smart Safe Use
Today, Daughtridge has Tidel S4 safes in all 13 convenience stores. It’s looking to add Tidel S3 safes in its Dunkin Donuts locations as well as in two new Subway sandwich locations it plans to open shortly.
“Our smart safe-based cash management system is easy, efficient, and reliable,” says Ballentine. “Originally, I thought that adding the safes was just a minor change to our business. But the smart safes worked so well, they’re now an integral part of our business model. We wouldn’t even think about opening a location without one.”
Tidel’s smart safes have helped take Daughtridge’s retail business to a new level. They streamline cash management, maximize employee safety, and minimize cash-handling risk—all while boosting accuracy and accelerating credit for cash deposits. The smart safes also free up cash float, lower operating costs, and reduce losses.
For Daughtridge Gas & Oil, adopting smart safe technology has allowed them to view past cash management challenges as a distant blip in their rear-view mirror.
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