texpo 2019 (cinemark tidel) (4.8.19) (session #3) · 2019. 3. 23. · cinemark finance objectives...

TEXPO 2019

Cash Automation Redesigned

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Agenda

• Introduction

• Treasury directive from CFO

• Changing market conditions affecting our decision

• Changing competitive marketplace

• Business review findings

• Selection process

• KPI’s

• Analysis

• Pilot

• Execution

• Continuous improvement initiative

• Q&A

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Cinemark Finance Objectives & Priorities

CFO Directive:

Drive a culture of Continuous Improvement and Accountability

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• Cash deposits and

reconciliations

• Increase attention to lean

expense management

• Driving opportunities and

processes that expand

margins and deliver

operating efficiencies

• Supporting business

growth, strategy and

development objectives

Changing Market Conditions

• Banks

• Wages

• Cash Resilience

• CIT’s

• Outsourced Vaults

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Changing Competitive Conditions

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• At home

• Recliners

• Dine-in theaters

• Streaming Services (Netflix, Amazon)

Cinemark “Must Have’s” in a Solution

• Flexibility in hardware solutions to meet the

needs on a unique environment for each theater

• Flexibility in banking to be able to adjust with

market conditions / relationship / reduce fees

• Flexibility in CIT to adjust the service frequency

with the needs of each theater

• Guarantee of cash deposits

• Streamline reconciliation

• A solution that that frees up time for SAM / GM

• Reduce unnecessary touch points of cash

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Solution Provider Selection Criteria

• Data analysis - to calculate frequency

and hardware

• Time and motion studies (pre and post)

• Change order detail by denomination

• Deposit detail by denomination

• Understanding peak vs non peak cash

and the effects on cash management

• Pulled in departments for collaboration

(loss prevention, GM’s, operations,

facilities, etc…)

• Looked at location details such as

location and proximity to concession

stands, box office, security, etc..

• ROI benefit

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KPI’s for Success

• Cost savings

• Labor savings

• Cash Handling efficiencies realized

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Pilot Learnings

• What we learned?

• Tidel customized reporting,

dashboards, and software for

Cinemark

• Training

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Structured Team for Phased Rollout

• Phased in approach understanding all decision points, variables and ROI benefits

• T-minus dates and scheduling

• Collaborative team to Project plan

• Training coordination / materials

• Milestone markers for follow-up on KPI’s today and on-going

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Plans for Continuous Improvement

• Touch points – 3, 6, 12 month

• Opportunities to expand with AI analytics

• Opportunities to incorporate into exception-based reporting

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Q&A

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