why cash recyclers? a walmart case study
TRANSCRIPT
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Why Cash Recyclers?
A Walmart Case Study
Dave Shelly
Sr Director Treasury
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Bringing Robotics to Retail
• 5,200 installed
• 32,000 notes
• 8 notes / second
• 39,000 coins
• 50 coins / second
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Why Cash Recyclers? A Walmart Case Study
• Why did Walmart invest in cash recyclers?
• How was this major transition rolled out?
• What challenges had to be overcome?
• What enhancements are coming next?
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Walmart Cash Recycler Case Study
Why? How? What now? What next?
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Walmart Cash Recycler Case Study
Why recyclers?
Defining the
ROI
Collaboration
Testing
Configuration
Roll out
ChallengesFuture
enhancements
Why? How? What now? What next?
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Walmart Cash Recycler Case Study
Why recyclers?
Defining the
ROI
Collaboration
Testing
Configuration
Roll out
ChallengesFuture
enhancements
Why? How? What now? What next?
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Building the Case for Change
• Manual, repetitive tasks
• Errors and opportunities for shrink
• Non-customer facing labor spend
The way it has always been done
Why? How? What now? What next?
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Building the Case for Change
• Recycler technology advancements
• Financial institution appetite
• Executive buy in
A new way to do cash management
Why? How? What now? What next?
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A Compelling ROI
• Labor savings
• Bank fees
• Carrier fees
• Cash shrink
• Working capital
Why? How? What now? What next?
• Capital cost
• Depreciation
• Install costs
• Ongoing Service Fees
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Labor
Savings
• Sorting
• Counting
• Register preparation
• New skills required
• Exception research
Why? How? What now? What next?
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Bank and
Carrier Fees
• Lower cash deposits
• Change orders
• Carrier days of
service
• Product development
Why? How? What now? What next?
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Working
Capital
• Idle store cash
• Bank owned cash
• Product development
Why? How? What now? What next?
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Capital
Cost
• Hardware cost
• Model options
• Configuration choices
• Buy vs. Lease
Why? How? What now? What next?
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Operating
Costs
• Once off installation
• Shipping
• Technician time
• Training
• Ongoing services fees
• Maintenance
• Service fees
Why? How? What now? What next?
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A Compelling ROI
• Labor savings
• Bank fees
• Carrier fees
• Cash shrink
• Working capital
Why? How? What now? What next?
• Capital cost
• Depreciation
• Install costs
• Ongoing Service Fees
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Walmart Cash Recycler Case Study
Why recyclers?
Defining the
ROI
Collaboration
Testing
Configuration
Roll out
ChallengesFuture
enhancements
Why? How? What now? What next?
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Collaboration is the #1 Success Driver
Why? How? What now? What next?
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Collaboration is the #1 Success Driver
Why? How? What now? What next?
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Collaboration is the #1 Success Driver
Why? How? What now? What next?
TreasuryCentral Operations
Shared ServicesAsset Protection (LP)
AccountingTechnology
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Strong Vendor Partnerships are Critical
Why? How? What now? What next?
• Managed Services
• Hardware Manufacturer
• Equipment Maintenance
• Financial Institutions
• Armored Carriers
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Managed
Services
Hardware
Why? How? What now? What next?
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Financial
Institutions
Why? How? What now? What next?
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Armored
Carriers
Why? How? What now? What next?
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Test, test and test some more
Why? How? What now? What next?
• All store formats
• All geographies
• All machine configurations
• All banks
• All carriers
2018
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Walmart Chose the Maximum Capacity Machine
• Notes on the left
• Coins in top right
• Register trays
bottom right
• Touch screen
• Drop vault
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Also Test Configuration Options
Why? How? What now? What next?
• Cassette size
• Denomination
configuration
• Set inventory guards
Left Right
Overflow Overflow
$1 $1
$5 $20
$20 $100
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We Learnt a Few things About Coins
Why? How? What now? What next?
• Bags vs. rolled
• Recycler capacity
• Half bags and quarter bags
• 5 billion pennies
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And We Had a Few Laughs
Why? How? What now? What next?
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Rollout Takes Collective Energy
Why? How? What now? What next?
• Contractor work
• Store associate training
• Legacy system configuration
• Call center preparation
• Checklists for the checklists
Be ready for anything
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Walmart Cash Recycler Case Study
Why recyclers?
Defining the
ROI
Collaboration
Testing
Configuration
Roll out
ChallengesFuture
enhancements
Why? How? What now? What next?
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Challenges
Along the
Way
• Fitting the machine
in the cash office
• Time for
installation and
carpentry
Why? How? What now? What next?
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Challenges
Along the
Way
• Associate process
change
management
• “The recycler” did …
or didn’t do…
Why? How? What now? What next?
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Challenges
Along the
Way
• File transfers and
data flows
• Cash Reconciliation
• Accounting
Why? How? What now? What next?
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Walmart Cash Recycler Case Study
Why recyclers?
Defining the
ROI
Collaboration
Testing
Configuration
Roll out
ChallengesFuture
enhancements
Why? How? What now? What next?
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System
Integration
• Legacy systems
• POS system
• Cloud interfaces
Why? How? What now? What next?
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Device
Integration
• Self check outs
• Peripheral registers
• Multiple recyclers
• Smart safes
Why? How? What now? What next?
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Ecosystem
Integration
• Cash Visibility
• Carrier data flows
• Bank data flows
• Bag tracking
Why? How? What now? What next?
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A white-
board full
of future
ideas
Optimize recycler inventory
Dynamic register mix
Refine deposit bag preparation
More auto-alerting
Fuel and FX
Why? How? What now? What next?
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What Can I Do Tomorrow…
1. Research hardware options
2. Meet with banks, carriers and industry players
3. Collaborate with industry peers
4. Put together analysis and prove the ROI
5. Test, test, test
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Why Cash Recyclers?
A Walmart Case Study
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Session Description:
Walmart rolled out cash recycler technology across 4,700 U.S. stores to become the largest
user of cash recyclers in the world. Their operating model was completely redesigned,
including hardware selection, alignment with banking and armored carrier partners and
integrating software and reporting—and it continues to be enhanced. Walmart realized
savings on its in-store labor by eliminating the manual counting of coin and currency in
stores. Additional working capital benefits were realized by implementing a bank-owned
model where the cash inside the recycler is owned by the banking partner. Cash deposit
levels were reduced significantly as the model was rolled out, which generated bank fee
savings. Walmart also transitioned to a centralized, algorithmic ordering of change for all
stores, creating further efficiency and reducing total order levels. In this session get all the
details and insights of this major transition, including how the model was rolled out, what
challenges had to be overcome and how the model continues to be enhanced.