The festive season is upon us once again. This is a time of joy and celebration as we take a break from the mundane realities of everyday life. But not all is rosy during this period – business crime remains a big concern and will handicap peace of mind for many.
“The festive period is our retail sector’s peak season, with a significant rise in cash volumes and an expected increase in armed robberies, burglaries, and other violent crimes. Unfortunately, while we shop for Christmas gifts, criminals work from their own wish lists, targeting the public and businesses alike,” says Richard Phillips, joint CEO, Cash Connect Management Solutions.
The past few weeks have already seen a series of armed robberies and cash vault bombings, particularly at fuel retailers and this is only expected to rise as the volume of cash in circulation rises over the festive season. Last year, Cash Connect recorded an almost 40% increase in the volume of cash it processed on behalf of its clients in the month of December, compared to the average cash processed per month in January to November.
“Extended trading hours create greater opportunity for crime spikes, while holiday makers, fuel retailers and convenience store owners become more exposed to cash-related crimes,” adds Phillips.
Every year we find ourselves in the same predicament, facing the same challenges, which place our retail sector on high alert. Caution has become the business sector’s main directive, behind the cheerful mood and extra effort that accompanies the season. Central business districts and coastal towns are the most high-risk areas in South Africa during December.
For Cash Connect we strive to assist our customers to operate as efficiently and safely as possible during the holiday season and our results demonstrate the success of our efforts. “Our risk record for the 2016 year to date shows that burglary attacks against our national footprint amounted to less than 1% of which 69% were successfully defended,” says Phillips. “The number of robbery attacks including the use of explosives amounted to slightly over 1% of our footprint of which 52% were defended”.
Unfortunately, too many businesses still manage their cash using conventional methods, thereby posing an even greater risk of becoming a victim of criminal attack,” says Phillips.
The period leading up to the holidays is when business owners need to evaluate and rethink the security of their cash management systems. According to Phillips, the most effective way of safeguarding cash receipts is by installing an automated retail cash management and payment solution that is robust and can resist the toughest of attacks.
Currently Cash Connect is South Africa’s pre-eminent leader in modern automated cash management solutions for business.
“Our cash vault technology has been vigorously tested on numerous occasions over the past few years by determined and organised criminals using every kind of tool from explosives to sledge hammers. It has undeniably delivered on the level of deterrence and defence necessary to discourage a repetitive continuance of the scourge of violent crime,” says Phillips.
December and January doesn’t have to be a jolly season for criminals. Business owners need to understand that the police and security companies can only do so much. The time to act is now.
Pioneering the drive to create a safer trading environment in South Africa, Cash Connect has been progressive in reducing business crime since 2006. Offering more than just a tin box to safeguard your hard-earned money, Cash Connect provides an all-inclusive, value guaranteed, automated cash management solution. With its technology and processes conclusively proving to be an effective deterrent for robbery and burglary, Cash Connect is making our retail sector’s life easier, and safer – no matter what season of the year.
For more information on its holistic, modern approach to cash management solutions, please visit: http://www.cashconnectsus.co.za/
ABOUT CASH CONNECT
Cash Connect Management Solutions offers an end-to-end cash management solution that encompasses cash in transit logistics and cash processing. Established in 2006, Cash Connect’s specialist solutions for retailers remove risk and maximise cash flow through swift settlements.
Cash Connect is one of the largest suppliers of cash to the banking system and boasts close on R40 Billion a year that it manages on behalf of its diversified client base across the country. It is an approved service provider to blue-chip companies such as Spar Group, Shell, Engen, Pick ‘n Pay and OK to name but a few.
The executive management team - led by joint CEOs Richard Phillips and Steven Heilbron - has an unrivalled pool of specialised cash logistics, security and banking experience. The board of directors is chaired by Ivan Epstein, former CEO of Softline and Sage International. Cash Connect is a private company, with Old Mutual’s specialist fund, Futuregrowth Asset Management, as its largest institutional shareholder.
Celebrating its 10th anniversary, Cash Connect believes that businesses deserve to trade in a safe environment, allowing retailers to do business efficiently and securely.
Idea Engineers on behalf of Sumay Herbst: Cash Connect
Tel: +27 11 010 4300 / 083 286 2799
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