Wincor Nixdorf forms strategic partnership with Abacus Financial Management Systems

This will provide UK retailers with unique automated and secure in-store cash processing solution. Wincor Nixdorf has announced a major new strategic partnership with Abacus Financial Management (AfM) Systems Limited - a leading cash processing technology specialist. Under the agreement, Wincor Nixdorf will sell, service, support and integrate AfM Systems` revolutionary automated, secure in-store cash processing systems into its own leading range of Electronic Point of Sale (EPoS) solutions. This will provide UK retailers with real-time management information at the Point of Sale which will enhance efficiency, control cash processing, and optimise the human resources deployed in their stores. The Abacus Prime Count Product is a patent-protected system that is designed to be installed at the Point of Sale. This solution´s `intelligent safe´ provides the retailer with a secure containment system that verifies and counts the notes as they are deposited. The contents are sealed within the intelligent safe and reported to the AfM Management Information System, enabling the retailer to evaluate the cash available for banking in real-time. The two companies have integrated the AfM System with Wincor Nixdorf store applications to provide retailers with a true and complete management and reconciliation system. James Redding, Managing Director of AfM Systems Limited stated: "AfM Systems is currently working in partnership with several leading banks in the UK and is in discussions with other institutions around the world to broaden its deployment opportunities. The combination of Wincor Nixdorf, one of the world´s premier EPoS suppliers, the UK banks and AfM's unique technology creates an end-to-end solution that potentially redefines cash processing in the UK." Roger Bower, Managing Director at Wincor Nixdorf added: "The AFM solution is an excellent addition to our store portfolio, with the in-store management of cash as important as stock in driving a retailer´s profitability. This solution will bring major benefits including improved cash flow, greater accuracy and security of cash reconciliation at the till, and crucial improvements in store productivity by removing the normal regime for duplicate cash counting procedures in the back office." "Combined with our significant experience and expertise of implementing retail systems and processes, we will be bringing a dramatic change to in-store procedures for cash processing - especially as major financial institutions have agreed to accept on-site cash counts via Abacus, accelerating the depositing of cash takings with direct settlement and interest accrual benefits," continued Roger Bower.