New solution portfolio for cash cycle management

Cash continues to be the number one payment medium. “Nine of ten payment transactions worldwide are made with cash. Our estimates show that this creates more than 300 billion dollars in costs, primarily for banks and retail businesses,” explains Eckard Heidloff, President and CEO of Wincor Nixdorf, at the opening of Wincor World 2010. The number of euro banknotes alone is growing at the rate of nine percent yearly according to the European Central Bank. On the whole, cash handling in Europe costs approximately 50 billion euros every year. Thus Heidloff presented a solution portfolio as the kickoff to Wincor World that makes the most of the common ground in cash handling processes at retail companies and banks, and takes a completely new approach. The portfolio, which Wincor Nixdorf is marketing under the name “Cash Cycle Management Solutions”, enables manual processes to be automated, with the result that bank and store employees no longer come into contact with cash. The results: maximum security, the greatest possible transparency, better processes and cost reductions of more than twenty percent.

Heidloff emphasized that Wincor Nixdorf continues to be a reliable and stable solution partner to banks and retailers. To be sure, the Group’s sales fell by six percent and its EBITA by thirteen percent year-on-year in the first quarter of the new fiscal year 2009/2010. And Heidloff added that Wincor Nixdorf expected sales and operating income to be down somewhat for the fiscal year as a whole, but not by more than in the last fiscal year 2008/2009, when sales fell by three percent and income by thirteen percent. The company’s objective is to remain stable throughout the crisis, while preparing for when the economy recovers in strength. Continue reading “Wincor Nixdorf: New technology automatically means better security and lower cash handling costs” »