Out of the work routine and into the conversation with representatives from the retail sector. On April 25, 2024, our 17th Cash Dialogue Retail took place, and once again, we were able to provide a platform to discuss current developments in cash management. This time, we talked with our customers and prospects about topics including discrepancy reports from the Bundesbank, the Digital Euro, and cashback at the point of sale. Our presentations on the ever-popular topic of artificial intelligence met with interest and led to intensive discussions.
Focus placed!
For the first time in the history of our Cash Dialogue Retail, it did not take place in Leipzig. This year, the company headquarters of dm-drogerie markt GmbH + Co. KG – the dm-dialogicum – served as the venue for exchanging new opportunities for retail. We were once again pleased to welcome participants from various fields such as payment services, treasury, and cash management.
After a brief introduction round, we dove into the technical topics and discussions valued by participants. It quickly became clear where retailers' interests lie this year: on the ongoing development towards cashback and the associated advantages and hurdles, as well as on the opportunities that might emerge concerning artificial intelligence.
AI opportunities unleashed
Keeping pace: This can be noted as a primary goal of our Cash Dialogue. The way to accomplish that is through joint dialogue. Therefore, the focus is always on current topics, challenges, and solutions around cash management.
It's hardly surprising that artificial intelligence developed into one of the top discussion points – and simultaneously became the highlight of our Cash Dialogue. Our presentation on coin roll recognition using trained AI laid the foundation for extensive and lively exchanges. After presenting the prototype of the safe inventory recording via photo in our ICC App, the enthusiastic brainstorming about potential uses began among participants.
Cashback: Advantages and disadvantages in view
That the event is not intended as self-promotion for our software solutions is shown by the second thematic focus. We intensely turned with retailers to the supermarket checkout, which increasingly functions as a cash counter, thus leading to the catchphrase "cashback." About ten years ago, Rewe supermarkets introduced this service. Today, or in the year 2022, when the EHI Retail Institute study was published, nearly 90 percent of food retailers and drugstores in the EHI panel offered cash withdrawals.
During our Cash Dialogue, the associated fees and the necessary note supply were in the spotlight. Many retailers pay fees on withdrawn amounts due to their increased role in cash supply. These are to be directed to the credit industry and are associated with an increased effort regarding cash supply. However, the discussed solutions cast a positive outlook on the future.
The Manager Cockpit
Already on April 24, 2024, we invited our customers to take a look at current releases. The beneficial aspect: Through the user meeting, they could discover new features and benefit for practical work. Especially the Manager Cockpit is an exciting innovation that we are developing directly in collaboration with our customers. The cockpit is supposed to consolidate all important key figures and simplify and centralize the management of necessary measures around cash management. Additionally, through various wishes and requirements, we received new incentives to further develop our ICC solution, for which we are thankful!
Conclusion
Two eventful days are behind us, from which we could draw a confirmation: The familiar circle and the opportunity to discuss topics at the manager level continue to receive approval. We were once again told in 2024 that our Cash Dialogue offers a welcome change to tackle daily business with new ideas. Besides modern solutions, another aspect helps tackle challenges: networking with like-minded people and a joint path towards the future.
Are you curious about how we address new challenges together? Then let's get in touch!