In our Ones to Watch section, we highlight some of the top up and coming businesses in Ireland. This week we feature Premium Cash Solutions.
What is it?
Premium Cash Solutions (PCS) supply, install, maintain and advise on a wide range of cash handling solutions to the retail, hospitality, leisure, forecourt and convenience store sectors. PCS solutions bring many benefits to clients by reducing the risk of robbery, eliminating internal shrinkage and delivering significant cost savings around cash handling, all contributing to a very short investment payback period.
PCS have a number of cash solutions that work effectively and efficiently to manage client’s needs. From the Retail Station offering that ‘Automates your Cash Office’, a complete self-service cash system for smart secure cash management and optimal cash flow, to the SafePay ‘Closed Cash Management’ system which replaces manual tills with a system that recycles and protects cash from the moment it leaves the customer’s hand until it reaches their bank account. Reducing the amount of times cash is touched in a typical retail environment from six times to once.
The PCS solutions are benefiting several national and international clients, from independent establishments to national franchises including McDonalds, Circle K, Maxol, Spar, Adare Manor, Pembroke Hotel, Galgorm Resort & Spa, Omniplex Cinemas, Paddy Power and many more.
Who’s behind it?
Bringing together backgrounds and decades of experience in engineering and finance, Premium Cash Solutions is the brainchild of co-founders Alan Condron and Aidan Comerford. Backed by Enterprise Ireland in 2015 as part of their High Potential Start-up programme, enabling the company’s first successful installation in 2016. Premium Cash Solutions are the exclusive distributor in Ireland for Gunnebo cash automation products, with the backing of a global team supporting finance, logistics and operations at PCS Irish headquarters in Dublin.
How is it funded?
PCS is funded by its founder’s original investment, which was matched by Enterprise Ireland, and its profitable organic growth. Expansion and new product initiatives may require further funding in due course.
Future?
2019 is set to be an exciting year for Premium Cash Solutions as it continues to expand the product and client base and bring a unique and innovative Fintech Early Value product to market. From working with clients PCS identified a major gap in the cash cycle which we can solve by layering a financial solution over the smart safe technology. PCS are piloting a solution that will effectively put the bank branch into the customers premises, improving liquidity, and reducing risk. Set to be a game changer, it will give clients immediate value for cash and will offload the risks associated with cash.