Linfox Armaguard
Linfox Armaguard partner to improve cash management processes
Linfox Armaguard was tasked with developing and implementing a cash handling and reconciliation system.
Business Objectives
Prior to integrating Tidel systems into their stores, 7-Eleven franchise operators were responsible for daily bank runs. This process exposed staff to ongoing security risks as they physically transported cash to and from the store, which took them away from day-to-day operations, increasing costs and reducing efficiency. During peak times, trips to the bank were often postponed, causing reconciliation issues for the head office, thus impacting 7-Eleven’s cash flow, since cash was sitting idly in its stores.
Challenges
- Improve service delivery.
- Ensure a safer working environment with enhanced personal security.
- Minimize financial loss.
- Provide a flexible, easy-to-use system for franchisees and staff.
- Meet current and future business and store network needs.
Solutions
- Increasing efficiency and optimizing security
- Linfox Armaguard and 7Eleven collaborated to develop a fully integrated, automated software and hardware system that removed the need for physical banking activity.
- This resulted in Tidel Smart Safes being installed in over 600 stores nationally.
Results
Efficiency Boost
Linfox Armaguard and 7-Eleven developed an automated system eliminating the need for physical banking, leading to Tidel Smart Safes in over 600 stores, revolutionizing reconciliation and cash flow processes.
Security Enhanced
The collaboration between Linfox Armaguard and 7-Eleven mitigated security concerns by implementing a fully integrated system, allowing store operators to focus more on their business.
Value Added
"This is a great example of how we add value for our customers by utilizing technology to streamline processes and remove complexity," said Andrew from Linfox Armaguard.
Background
As a national provider of state-of-the-art currency management solutions, Armaguard has long provided its expertise to improve the efficiency and security of currency management throughout Australia. Linfox Armaguard’s innovative Smart Safe Solution from Sesami has transformed 7-Eleven’s cash handling and reconciliation processes, which has resulted in significant, impactful changes to 7-Eleven’s security and overall operating model.
“The demanding task of day-to-day cash collection and banking presented risks and issues for 7-Eleven, prompting them to consult us for a more effective approach,” said Linfox Armaguard General Manager Business Development, Andrew Nathan.
The Challenge
Prior to integrating Sesami systems into their stores, 7- Eleven franchise operators were responsible for daily bank runs. This process exposed staff to ongoing security risks as they physically transported cash to and from the store, which took them away from day-to-day operations, increasing costs and reducing efficiency. During peak times, trips to the bank were often postponed, causing reconciliation issues for the head office, thus impacting 7-Eleven’s cash flow, since cash was sitting idly in its stores.
“Our bespoke solution has many benefits: it revolutionized 7-Eleven’s reconciliation and cash flow processes at both store and head office level, mitigating security concerns and allowing store operators to spend more time on their business.”
Customer Benefits
Simplification
- Provide a flexible, easytouse system for franchisees and staff
Optimization
- Ensure a safer working environment with enhanced personal security and reduced risk of injury
- Minimize financial loss
Excellence
- Improve service delivery
- Meet current and future business and store network needs
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