Gentofte
Cash transparency delivers 30% increase in earnings
How closed cash handling provided better security and transparency of revenue streams.
Business Objectives
Gain better control over cash handling and increase revenue.
Need for a solution to provide transparency and reduce shrinkage.
Challenges
- Managed large amounts of daily cash with no clear overview of revenue streams.
- Significant losses due to shrinkage.
Solutions
- SafePay point of sale solution
Results
Improved Oversight
Complete control over sales, allowing for quick overviews of shrinkage and better purchasing decisions.
Clear Revenue Tracking
Clear overview of takings from refreshments, skate rentals, and ticket sales.
Enhanced Financial Control
As Chairman of the club, Jan observes that members feel confident in the club's financial management, knowing that their contributions are being spent wisely.
Background
Gentofte Stars is an ice hockey club in northern suburbs of the Danish capital, Copenhagen. The club was founded in 1965 and has several teams from under sevens to the first division.
At its home ice rink, the club runs a kiosk where it sells refreshments and rents out skating equipment.
When the hall is not being used for ice hockey and ice skating, it holds concerts and events are held, for which the club manages ticket sales.
“After we got SafePay, our earnings increased by 30% in just 6 months.”
The Solution
After meeting with a cash management expert from Sesami, Club Chairman and Kiosk Manager, Jan Barsballe, chose to install SafePay at the point of sale to give him a better overview of sales and cash handling at the club.
Jan says that he realised how much of an improvement SafePay made. He now has complete control over what they sell, so he can quickly get an overview of shrinkage and can make better purchasing decisions. He can clearly see where he is making money and where best to spend his resources.
Customer Benefits
Before SafePay gave him a clear overview of takings, Jan did not know how much revenue should go straight to the club – from the sale of refreshments and skate rental – and how much should go to event organisers as a percentage of ticket sales.
“I now know where we are making our money,” he says.
“It started with a desire to solve our cash handling problem, but ended up being a management tool," he continues. "Confidence among management, members and employees has increased since we installed SafePay.”
As Chairman of the club, he can see that members feel the finances are under control and that the money they are putting into the club is being spent wisely.
Before SafePay was installed, money was not kept securely so those in charge of taking payments were uncomfortable with having responsibility for large amounts of cash. It was also easy for someone to simply pocket cash. Now all payments are registered and stored safely away so there is a greater sense of trust and security.
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