Volumatic receives Queen’s Award

UK cash-handling firm Volumatic Limited has been honoured in this year’s Queen’s Awards for Enterprise. Volumatic won the Innovation Award for its revolutionary product, CounterCache intelligent (CCi), which utilizes a bespoke version of JCM Global’s European Bill Acceptor EBA-32 bill validator. News of the award was announced in the Thursday, April 21st 2011 edition of The London Gazette.

Volumatic’s CCi product is used at the till point in retail and other outlets to authenticate, count and store banknotes. From the evidence of its clients, CCi improves the security of till transactions, eliminates errors and can cut cash handling by up to 75 per cent by combining several steps into one and moving everything to the front line (the till). Traditionally, once a banknote has been handed over during a transaction it can be touched and counted several times before reaching its final destination. With the CCi, once a banknote has been deposited at the point of sale, it need not be touched again until it reaches the cash centre or bank. With this innovation, huge time savings are to be made, which would otherwise be spent manually handling and counting cash. Banknotes are processed automatically and the security of the CCi helps limit cash exposure thereby reducing shrink. Notes are stored in the CCi, in a tamper-proof TruPouch, also acknowledged in the Queen’s Award.

Commercial Director James Harris stated, “Innovation is at the core of everything we do at Volumatic – we recognise that innovative products, people and processes are what drive our business forward and create our competitive advantage. We work really hard to continually understand the needs of our customers better, so that we can develop products which will be relevant both today and in the future. To be recognised for this with the Queen’s Award for Innovation is a fantastic achievement for our business.”

Volumatic and JCM Global worked closely together for nearly three years as the project was being developed. Managing Director, Colin Amos, said, “We are extremely proud to have been honoured with this prestigious award which is testament to the hard work and dedication of everyone in the Volumatic team.” He added, “The CCi was a 2-3 year development project, during which time we worked closely with the retail community and our development partner, JCM Global.”

“The JCM Global team is very happy with the success Volumatic is having with this product, as both Volumatic and JCM have worked hard together, particularly during the development stage“  said Masaki Mitsuboshi, Manager of New Product Development for JCM Global. “‎This was not a supplier-customer relationship, but a true partnership, and we hope to work with Volumatic again in the future on an equally exciting project.”

In recognition of Volumatic receiving the Queen’s Award, JCM Global recently presented Volumatic with an etched crystal plaque. Mitsuboshi said, “JCM Global is very proud to present the JCM Global Award to Volumatic on the occasion of receiving the 2011 Queen’s Award for Enterprise for product innovation for CCi and TruPouch.”

 

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