Trends and Insights spoke with Jim Goodwin, the Market Segment Director in charge of G&D’s casino business.
Mr. Goodwin, why is cash processing such a big issue for casinos?
Casinos have particularly complex cash processes: Often they deal with very large volumes and many different currencies – and everything must be processed extremely fast. In all of those cash operations, security is always a major concern. Now that global competition is getting fiercer, casinos need to look for ways to capture hidden efficiency potentials. Integrating their cash processing is an extremely powerful way to do that.
Can you give us examples from practice?
Sure. One casino we worked with had three cash-processing systems installed. Each month, their count team – 25 people in total – reported 500 hours overtime. With our integrated solution, overtime went down to nil in the first month, and they could almost cut the team in half. Another client, who had 15 people on its count team and another six on the drop team, now works with just one combined team of six people.
That really is an enormous difference. How would you explain that?
One factor certainly is the powerful equipment we have. But that is not all. To really make a difference you need a comprehensive solution covering all relevant factors: not only systems and connectivity but also the casino’s work specific processes and room layout. Once you optimize all that in an integrated effort you can achieve quantum leaps in efficiency.
Some casinos might still hesitate to make the investment for a high-end system…
Which is understandable, as major investments tend to weigh down short-term profits. However: If you look at the longer-term economics, you will typically find high-end solutions to be more cost effective. Why? Because the Return on Investment (ROI) is achieved in various ways: You have less shrinkage because banknotes are monitored throughout the process and there is hardly any manual interference. You have highly efficient processes, so you save on manpower. Larger volumes are processed faster, with no interruptions. Last but not least, don’t forget equipment longevity: G&D's first casino system is still in operation – it was installed in 1997.
What qualifications are essential for a solution partner?
Powerful technology is just the core. In addition, it takes industry expertise to ask the right questions, understand work flows, anticipate future developments and come up with good ideas. Also, a solution partner will need to be familiar with the respective country’s gaming regulations, currency properties, processing requirements and so on. So, global presence is essential.