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24.4.2024 07:30:01 CEST | StrongPoint | Additional regulated information required to be disclosed under the laws of a member state
(Oslo, April 24 2024), StrongPoint, a leading retail technology provider, today introduces a new solution, ‘CashGuard Connect’, the world’s first fully automated end-to-end cash management solution eliminating the need for store staff to handle cash.
‘CashGuard Connect’ was specifically designed to address the cash-handling challenges faced by grocery retailers. The new solution is operational and being tested in a store checkout of the grocery retailer Mercadona, which has more than 1,660 supermarkets in Spain and Portugal.
Following the setup of an industrialized production, the ground-breaking solution is set to be made available to grocery retailers by the end of 2025, providing them the opportunity to drive substantial efficiency savings in their cash management operations.
‘CashGuard Connect’ provides end-to-end cash automation at the point of sale, eliminating the need for staff to handle cash. This allows staff to focus on serving customers and scanning items at the checkout, streamlining the process. The result is increased safety and efficiency for customers, store staff, and the retailer.
“In Spain around half of all transactions in grocery retail is done with cash. At StrongPoint we believe that technology can create win-wins for retailers and their customers. ‘CashGuard Connect’ is a perfect example of this dual benefit: a better, easier, and faster customer experience while making store operations more cost-effective and secure. This new solution is a significant technological advancement for grocery retailers," said Lorena Gómez, MD and SVP of StrongPoint Spain.
“The potential for ‘CashGuard Connect’ is immense. This new solution offers substantial efficiency savings to grocery retailers. Given its significant savings and benefits for retailers, their customers, and employees, it is conceivable that the total market potential of this solution could surpass a quarter of a billion euro in Spain alone. We expect to have the industrialized production ready for retailers by the end of 2025,” said Jacob Tveraabak, CEO of StrongPoint.
The front and back-end elements of the solution can be sold separately or installed as a complete end-to-end solution depending on the unique needs of the store and its infrastructure. The solution was developed by StrongPoint Cash Tech S.L., a joint venture currently owned 60% by StrongPoint.
Disclosure regulation
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
Contacts
- Jacob Tveraabak, CEO StrongPoint ASA, +47 908 21 370, jacob.tveraabak@strongpoint.com
About StrongPoint
StrongPoint is a grocery retail technology company that provides solutions to make shops smarter, shopping experiences better and online grocery shopping more efficient. With over 500 employees in Norway, Sweden, the Baltics, Finland, Spain, the UK and Ireland and together with a wide partner network, StrongPoint supports grocery and retail businesses in more than 20 countries. StrongPoint provides in-store cash management and payment solutions, electronic shelf labels, self-checkouts, task and labor management software, click & collect temperature-controlled grocery lockers, in-store and drive-thru grocery pickup solutions and grocery order picking solutions, both manual and automated. StrongPoint is headquartered in Norway and is listed on the Oslo Stock Exchange with a revenue of approx 1.4bn NOK [ticker: STRO].