Articles

9th August 2018

Cash management – automation offers security and efficiency 

An airline start-up is complex and challenging. Understandably, onboard retail is not the top priority, but it still needs to be right from day one. One such airline had a very clear idea of what they wanted but asked Versilia to take this particular headache away. This is exactly the sort of challenge on which the Versilia team thrive, so we set about creating a full end-to-end solution. While the set-up processes are the same for all airlines, it is adapting them to the circumstances in a new country that requires Versilia’s specialist knowledge. 

Cash handling is a key part of an airline’s retail procedures. Typically, after landing the crew count the money and complete the required paperwork before storing the takings in a safe located in the crew room at the airport. From here, the designated secure cash handling service removes the cash for banking.

But, according to Fernando Pinto, Versilia’s Financial Analyst, the local circumstances meant normal rules did not apply here, and the usual manual processes were unavailable: “There’s no crew room at the airline’s home airport and, although there is a bank, it is not open 24/7. 

“Using a safe at the local hotel – as airlines sometimes do – was not an option either,” said Fernando. “So, we engaged with the ground handler and secured the use of one of its offices inside the airport.”

Providing cash handling processes in real time 

The next stage was for Versilia to source suitable services offered by cash handling companies operating in the country. Evaluating these took time, but Fernando was impressed by one that offered an automatic cash counter:

“I knew right away that this counting machine was what this client needed. The crew member simply logs in using an ID, places the cash into the machine, and it counts it in seconds.” 

The automated counter sends accurate, real-time information about each transaction to the airline’s bank account, drastically reducing a process that might take several days.

“Our aim was to solve as many problems as we could, so its journey to becoming a new carrier was as smooth as possible,” adds Fernando. “The money counter meant there was one less barrier to starting flight operations.”

Fernando Pinto 
Financial Analyst 

Tags: Cash handling | Onboard retail

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