Lenexa, Kan. Boscov's Department Store has chosen the VeriBalance cash office management solution from Balance Innovations to optimize the cash office workflow in all its locations. The solution automates cash office processes, significantly reducing errors and manual tasks.
Boscov's also implemented the vbEPIXTM back-office check-conversion solution, which enables the company to electronically process checks on site, saving courier costs, reducing bank fees and improving funds availability.
“VeriBalance and vbEPIX have enabled us to greatly reduce our manual processes,” said Bonnie Katzaman, manager of corporate policies, Boscov's, which operates 39 stores in Pennsylvania; New York; New Jersey; Maryland; and Delaware. “With VeriBalance, we can count the cash from each register quickly and easily and make just one deposit. vbEPIX enables us to reduce our bank fees and eliminate courier costs by processing our checks electronically in the stores. Both solutions were easy to learn and very user-friendly.”
Previously, Boscov's cash office procedures were very difficult for a new employee to learn. With VeriBalance and vbEPIX, users are guided step by step through procedures by the software, making it easy to train new cash office personnel. VeriBalance has also eliminated many manual reports previously completed daily by Boscov's cash office personnel.
“The VeriBalance and vbEPIX projects have provided Boscov's with excellent ROIs. They reduced our internal operating costs including various bank fees and charges,” said Russell Diehm, senior VP finance and chief accounting officer for Boscov's. “As an additional benefit, it has enabled Boscov's financial team to expedite the monthly financial closing process.”