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 iziCash 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 iziCash 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. iziCash 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 iziCash’s offering. Depending on the client’s needs, iziCash is geared to collect, deliver, process and insure cash. Included in the range of cash management services, iziCash 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.”
iziCash 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 iziCash holds with Brinks Global Services, arguably the largest global CIT company, specialising in secure transportation and the handling of valuable goods in South Africa. IziCash is the primary subcontractor for all the Brinks CIT and armed escort services in Gauteng, KwaZulu-Natal and the Western Cape.
iziCash 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.
This end-to-end tracking capability is enhanced by Fleetcam™ - an integrated surveillance and intelligent vehicle tracking system, enabling real-time monitoring of the iziCash fleet and personnelEach cash-in-transit vehicle within the iziCash fleet is fitted with seven CCTV cameras that feed real-time footage to the company’s control rooms where the fleet is monitored around the clock, and audio-visual recordings are stored for at least 60 days.
In addition to retail-focused services, iziCash offers armed escort services for the secure transportation of high value goods, including fine art, precious metals and foreign currency, while the Commercial Services Division deliver cash solutions to corporate clients, as well as municipalities, local-and national government departments.
Why trust IziCash with your cash?
At iziCash we ensure that our clients not only have peace of mind with reliable and secure cash services, but that they can also enjoy a host of benefits which include:
- Immediate risk reduction and improved cash flow.
- Service transparency backed with an electronic track-and-trace capability.
- Stringent personnel vetting standards that focus on experience, skills, aptitude, attitude and, most importantly, security clearance.
- Faster deposit credit for speedy settlements.
- Direct cost savings through operational efficiency.
- Reduced time spent on cash handling.
- Reduced losses with a tailor-made insurance solution to underwrite a client’s total risk.
“We are committed to meeting our clients’ needs, enhancing our shareholder value, and making a meaningful contribution to our community,” concludes Erasmus. “In all we do, we make sure our clients can’t help but note the difference.”