Costcutter Supermarkets Group will introduce the latest cash management technology to its 2,600 stores across the UK with the ‘Smart till’ Intelligent cash drawer.

The Smart till, from UK manufacturer Cash Base Ltd, is the first intelligent cash drawer on the market and has the capability to count all notes and coins automatically within seconds of the drawer closing using cutting edge weighing technology.

The till also provides retailers with full reports on vital figures such as rolling floats values, change needed, top-up values, pick-up values and sales values, saving retailers up to 30 minutes per day per POS terminal.

Dave Morris, director of IT of Costcutter Supermarkets Group, said: “Retailers are looking for straight forward technologies that can be implemented quickly and easily whilst bringing real benefits to them and their store. The intelligent cash drawers give retailers another way to create efficiencies within their stores and the results from the trials have been very positive.”

The Smart till is currently being trialled in a number of stores before being rolled out to stores across the UK. Andy Pengelly, owner of Costcutter, Porthleven, said: “We’ve just completed an initial trial of the Smart till Solution, and are really impressed. Not only has it saved time but it gives me an audit trail of cash handling activities instore, which is invaluable for day to day store management.”

Baz Jethwa, owner of Costcutter Farnworth, Bolton, said: “Since having a Smart till installed at our Plodder Lane store we are already seeing the benefits. We have not only found it very easy to use, but also found it is saving us a significant amount of time instore. We will be looking to install one at our second store on Campbell Street later this year.”

Stephen Bergeron, vice president of global marketing at APG/Cash Bases, the makers of the Smart till, said: “We are seeing businesses achieving a reduction in cash losses of up to 90% and a labour savings of some 30 minutes every day for every point of sale. It is through these operational improvements that businesses are achieving an ROI in less than a year utilising the solution.”