Volumatic

A Message from Lord Pickles and Lord Blunkett, followed by Volumatic's best practice article

The ability to listen and learn from one another has always been vital in parliament, in business and in most aspects of daily life. But at this particular moment in time, as national and global events continue to reiterate, it is uncommonly crucial that we forge new channels of communication and reinforce existing ones. The following article from Volumatic is an attempt to do just that. We would welcome your thoughts on this or any other Parliamentary Review article.

Blunkett signature Rt Hon The Lord David Blunkett
Pickles signature Rt Hon The Lord Eric Pickles

www.volumatic.com

1VOLUMATIC |
BEST PRACTICE REPRESENTATIVE
Managing Director James Harris
Our products enhance
security, reduce theft
and improve process
efficiency for businesses
across the globe
Volumatic products are used to validate, count and protect
over $4 billion in cash every day across the globe. They
design, manufacture, sell and support intelligent cash
handling solutions that save customers time, protect staff and
reduce cash losses. With a sophisticated global supply chain
allowing them to flexibly distribute resources, their development
work focuses on software solutions and integration into
management and EPOS systems. Managing Director James
Harris tells
The Parliamentary Review
more about their desire to
be the supplier of choice to any organisation seeking to handle
cash intelligently.
Our heritage in cash handling began with the development of CounterCache – a
simple secure storage solution for cash at the point of sale. We’ve installed over
one million CounterCache devices across the globe and this product range remains
an important part of our business today with customers including JD Sports,
WHSmith, Card Factory and many others.
In 1996 we then acquired Omal and as a result became a major player in count-by-
weight technology – a system that allows retailers to count the cash in a till drawer
in under a minute. We have over 50,000 cash scales installed with customers
including Next, Wilko, and Sports Direct.
More recently, product development has been focussed on intelligent deposit
systems and associated software platforms which validate, count and protect cash
at the point of sale. The CCi, or CounterCache intelligent, is the most successful
FACTS ABOUT
VOLUMATIC
»Managing Director: James
Harris
»Founded in 1961
»Based in Coventry with a
satellite office in Chicago
»Services: Intelligent cash
handling solutions for the
retail, leisure and banking
sectors
»No. of employees: 40
»Won Queen’s Award for
Innovation in 2011
»In 2012, Volumatic was
acquired from Halma plc in a
management buyout
Volumatic
THE PARLIAMENTARY REVIEW
Highlighting best practice
2| VOLUMATIC
intelligent deposit system in the world
today, with over 25,000 units installed.
In early 2019, we completed a roll out
of 3,500 of these devices into Tesco
Express stores.
Currently we are working on a project to
deliver similar technology into another
major UK retailer with over 2,000 stores.
Other customers for CCi include many
independent retailers and a number
of mid-size estates, such as ScotMid
Co-Operative, who have about 500
installations.
The project-driven nature of some of
our business means that we need to be
able to flex our resources accordingly,
and we achieve this through a
sophisticated global supply chain.
This has allowed us to deliver large
scale projects on tight deadlines, such
as installing over 10,000 devices into a
major UK retailer over a three month
roll-out period.
We operate in challenging markets and
under fierce competition from many
much larger organisations.
However, we have consistently managed
to punch above our weight and have
established an enviable reputation as
thought leaders and innovators in the
world of intelligent cash handling.
Our technical department makes up
20 per cent of our workforce and
their efforts are increasingly focused
on developing software solutions
that facilitate the integration of our
products into our customers’ systems
and processes. Seamless integration
drives process efficiency and labour
savings, which are core components
of the successful implementation of
Volumatic technology.
Critical to this success is a clear focus
on our core values around customers,
people and innovation.
Outlining our mission and
values
We deliver intelligent cash handling
products that increase customers’ profits
through improved process efficiency,
enhanced security and reduced theft.
We recognise that our business will
always depend upon our customers.
We work to understand their needs and
exceed their expectations through the
performance of our products and the
quality of ourservice.
We also recognise that our people are our
most valuable asset. We are committed
to providing a safe working environment
and to creating opportunities for both
personal and professional growth. We
value diversity and reject discrimination; a
belief in integrity, trust and respect across
all relationships underpins everything
wedo.
Innovative people, products and
processes are what drive our business
forward and generate our competitive
advantage. We strive to encourage
and reward both enquiring minds and
creative flair.
The national living wage and
new banknotes
The introduction of the national living
wage in the UK alongside similar
initiatives overseas has created a
strong focus from leadership on labour
efficiencies within some of our core
markets, such as the retail and quick-
service restaurant sectors.
Cash management in a retail
environment has traditionally involved
labour-intensive processes that pull
CounterCache
intelligent, or CCi,
cash counter in action
We deliver
intelligent cash
handling
products that
increase
customers’
profits through
improved process
efficiency,
enhanced
security and
reduced theft
»LOCAL RECIRCULATION OF BANKNOTES
We are seeing an increase in the local recirculation of bank notes at
retail outlets as retailers seek to rationalise their cash handling costs.
This includes the self-filling of ATMs in stores as well as the use of
cashback facilities at the point of transaction. The Bank of England
has issued a very clear code of conduct for local recirculation that is
designed to maintain confidence in the currency and ensure that any
counterfeit notes are removed from circulation.
Our products support retailers in adhering to these guidelines.
3VOLUMATIC |
BEST PRACTICE REPRESENTATIVE
employees away from value-adding
customer-facing activities.
We are now seeing a strong and
increasing demand for products and
solutions that streamline these processes.
The ongoing introduction of new
polymer notes has created an urgent
need for organisations to review their
cash handling technology and to
ensure that they are well-equipped to
deal with these new banknotes.
Our products are highly flexible
and can often be upgraded to
deal with polymer through simple
softwareupgrades.
Growing exports – the UK as
a template for other countries
Our short to medium-term focus is to
build on our growing export business
and to emulate the many recent
successes we have delivered in the UK.
We are investing in our infrastructure
for key overseas markets, particularly
in North America and Germany where
the retail economies are still very much
cash-centric.
We are starting to see some excellent
traction in these markets, particularly
in the quick service restaurant and
petrol forecourt sectors, where we are
delivering massive savings for some of
the world’s most recognised brands.
This export focus has involved
partnering with organisations that can
support our sales and support efforts
in these territories to enable us to
deliver consistent levels of excellence in
customer service internationally.
While developing our global footprint,
we will also continue to innovate with
new product developments relevant to
our target markets.
Cash is still prominent
The concept of a cashless society is
a myth, but the decline of cash as a
payment instrument is an inevitability
as alternative methods become more
widely accepted.
However, there is actually more cash
in circulation than ever before and 97
per cent of UK consumers continue to
carry cash on their person, according
to the 2019 Access to Cash Review.
Despite the growth of contactless
payments, for 25 million UK citizens
a cashless society would present a
challenge.
In 2018, it was reported that the
value of euro banknotes in circulation
is growing faster than the overall
economy. In that year alone, 340
million European citizens were
recorded as using cash for payment
in their daily private or professional
transactions.
Poorer countries and areas see a
greater prevalence of cash usage.
Beyond that, many people prefer the
“privacy” of cash and others may
live in an area where mobile phone
coverage is harder to come by.
Nonetheless, cash processing costs
are rising across the globe, and there
is undoubtedly a need for leaner and
more efficient operations in this regard
– a need we’re confident we can help
with.
Innovative
people,
products and
processes are
what drive our
business
forward and
generate our
competitive
advantage
Left: The CCi in action
at Wilko, where we
completed a full estate
roll-out
Right: CCi units in Tesco
Express, where 3,500
units are now in place

www.volumatic.com

This article was sponsored by Volumatic. The Parliamentary Review is wholly funded by the representatives who write for it. The publication in which this article originally appeared contained the following foreword from Rt Hon Michael Gove.

Rt Hon Michael Gove's Foreword For The Parliamentary Review

By Rt Hon Michael Gove

This year's Parliamentary Review comes at a momentous time for parliament, as we collectively determine the destiny of the United Kingdom. 

On October 31, the UK will leave the European Union. The successful implementation of this process is this government's number-one priority.

Three years after a historic referendum vote, we will deliver on the decisive mandate from the British people. Trust in our democracy depends on it. Until that final hour, we will work determinedly and diligently to negotiate a deal, one that abolishes the backstop and upholds the warm and close relationship we share with our friends, allies and neighbours in the EU. But in the event that the EU refuses to meet us at the table, we must be prepared to leave without a deal.

As the Chancellor of the Duchy of Lancaster, it is my job to lead on this government's approach, should that scenario happen. Preparing for Brexit is my department's driving mission. But while I am leading this turbocharged effort, the whole of government is committed to this endeavour.

Ministers across Whitehall are working together to ensure that every possibility is considered, every plan is scrutinised and every provision is made. A daily drumbeat of meetings means that we are holding departments accountable, so that preparations are completed on time.

The chancellor has confirmed that all necessary funding will be made available. And we have mobilised thecivil service, assigning 15,000 of our most talented civil servants to manage our exit from the EU.

We will make sure that on November 1, there is as little disruption to national life as possible. Our trade relationships will continue to thrive, thanks to agreements with countries around the world worth £70 billion. Our country will remain secure, thanks to nearly 1,000 new officers posted at our borders. And the 3.2 million EU nationals now living and working among us can remain confident, with absolute certainty, of their right to remain in the UK.

Above all, our goal is to be transparent. Soon, we will launch a public information campaign so that citizens, communities and businesses are ready and reassured about what will happen in the event of “no deal”.

In my first few weeks in this role, I have travelled to ports and tarmacs, borders and bridges, all across the UK –from the seaside of Dover to the rolling green hills of County Armagh. I have heard from business owners and border officials, farmers and hauliers. They are ready to put an end to uncertainty. And they are ready to embrace the opportunities ahead.

Our departure from the EU will be a once in a lifetime chance to chart a new course for the United Kingdom. Preparing for that new course will be a herculean effort. But this country has made astounding efforts before. We can do it again.
Rt Hon Michael Gove
Chancellor of the Duchy of Lancaster