Cash services with a difference
South African consumers remain loyal to cash. In fact, according to a recent Deloitte study, although 80% of South Africans have a bank account, most consumer transactions are still cash based, and cash usage in the economy continues to grow at an annual rate of between 6% and 10%. “These statistics underline the need for secure, reliable and efficient cash services,” says Albert Erasmus, founder and CEO of iZi Cash Solutions which specialises in cash management services for the retail industry.
The volume of cash in the economy is, however, not the only reason why expert cash management is essential. Security and operational efficiency are of paramount importance, especially to the retail sector that cannot trade without cash.
Its ability to meet retailers’ needs, has seen iZi Cash become the preferred choice for cash logistics and management. Established in 2016, the company distinguishes itself in both the range and quality of services it offers, particularly in terms of security and the precision with which cash is handled. “Our payoff line – note the difference – says it all,” comments Erasmus.
“Our culture and approach of executing cash services with absolute precision and strict security are testament to the expansion of business,” says Erasmus. iZi Cash provides cash logistics and cash management services to businesses in Cape Town, Johannesburg, Pretoria, Durban and Pietermaritzburg, with an exciting expansion program into other areas in the near future.
Cash management services for retailers and other businesses that require cash to trade is the backbone of iZi Cash’s offering. Depending on the client’s needs, iZi Cash is geared to collect, deliver, process and insure cash. Included in the range of cash management services, iZi Cash also lends its expertise to clients for the management of ATMs, which includes cash replenishment, balancing and First Line Maintenance.
“We pride ourselves on cash logistics and management services that are on par with the best in the industry,” says Erasmus. “However, what truly sets us apart are our partnerships.”
iZi Cash is, notably, the only cash management and logistics company in South Africa that is an accredited vendor for most of the automated safe device solutions companies in South Africa. “Our endorsement by the likes of G4S Deposita, Cash Connect, PaySolutions, CCMS, CashAccSys, Haneel, CashNET Logistics and Umnotho Cash Services enables us to provide each client with the integrated cash management solution best suited for their business,” says Erasmus. “As a result, our clients realise cost savings and a boost to their bottom line.”
Another noteworthy partnership is the one iZi Cash holds with Brinks Global Services, arguably the largest global CIT company, specialising in secure transportation and the handling of valuable goods in South Africa. iZi Cash is the primary subcontractor for all the Brinks CIT and armed escort services in Gauteng, KwaZulu-Natal and the Western Cape.
iZi Cash firmly believes in using the world-renowned Transtrack software to manage the entire cash cycle This is an end-to-end cash management system used in the CIT and Cash Centre operations to track cash bags and to process customer deposits on a daily basis. This meticulous tracking of cash significantly improves operational efficiencies, optimises, and streamlines every stage in the cash logistics process.