Volumatic’s CounterCache intelligent (“CCi”) won the award for Most Innovative In-store Solution at this year’s Fraud Awards. This follows a Queen’s Award for Innovation also presented to the company for CCi.
The judges, senior loss prevention executives from TM Lewin, Next, Harrods, Starbucks, Home Retail Group, American Golf, Michael Kors and Wilko made the award for CCi’s approach to fraud and loss prevention in the cash handling process.
The makers say that their CCi product replaces conventional cash handling processes; reducing the number of times cash is handled from as many as 14 times to once – when the cashier accepts the cash. The product also authenticates notes and stores them securely, so the makers add taking the ‘handling’ out of the ‘cash handling’ process.
The award was presented before an audience of over 400 at a black tie evening held at Premiership football club Leicester City’s stadium. On being presented with the Award James Harris, Commercial Director at Volumatic, said he was “accepting it on behalf of all those at Volumatic who had worked so hard to make CCi the tremendous success it has become.”
Morrisons have said that they are streamlining their cash handling processes by introducing CCi across their estate, leading to savings and a redeployment of staff to more customer facing positions.
CCi also received further recognition later on in the evening at the Fraud Awards, winning a Highly Commended award for the Most Innovative Cross-Functional Product category. Visit www.volumatic.com.