Wincor Nixdorf, the stronghold of cutting edge technology

One thousand Forints in the cash register is only worth 930 for a food store. The missing amount is the average cost of handling. New CINEO cash management systems, developed by German company Wincor Nixdorf, save 20 percent of this cost. At the end of January, 59 IT leaders from Hungarian retail chains and banks were invited to the world premier of CINEO systems at the Wincor World 2010 exhibition. Wincor Nixdorf is the biggest European company of programmable electronic cash register solutions; the company has 9,000 employees all over the world. Viktor Szűcs, Wincor Nixdorf’s key account manager told Hungarian visitors that with the new solution at cash registers cash is placed in standard intelligent cassettes, which count and store banknotes and coins. The chip system in cash registers keeps record of the money’s movement in cassettes with 100-percent security. This way there will be no need to transport money in bags, to count and authenticate it several times, or to hand it over and take it. These costly services, now provided by cash transport companies, will not be needed by CINEO users. Since annual cash handling costs in retail are estimated to be USD 50 billion in the USA and Europe, CINEO is expected to spread rapidly. István Nick, the head of the company’s service branch in Hungary said the new system was an innovative hardware, software and service that optimised cash handling and made it transparent. How can CINEO users cut costs? In Europe, 9 out of 10 times cash is used when customers pay in shops and the money people use comes from ATMs. There is lots of cash in circulation and handling costs are high. One of Wincor Nixdorf’s advantages is that they offer internationally standardised hardware and software, while their global services are just in the process of harmonisation.