Key Results

• Reduced their recurring cash management costs by 53%

• Saved over $2,000 in annual expenses per store location

• Gained real-time visibility of every deposit and change order transaction by location and employee

The Challenge of Managing Cash Operations for 1,000+ Stores

Lids faced significant challenges in their cash management processes prior to joining Clip’s network:

• Reliance on traditional bank deposits and smart safes, which proved costly and impractical for stores with lower cash volumes.

• Managing cash across over 60 banks with different account structures led to operational inefficiencies.

• Daily deposits and weekly change orders consumed valuable time and resources, impacting overall efficiency and cost-effectiveness.

Why Lids Chose Clip

In search of a solution that could improve operations and reduce costs, Lids selected Clip for their innovative ClipDrop system:

• Clip offered real-time visibility and accountability through the Cashboard, ensuring secure and trackable transactions across all retail locations.

• The solution cut down on direct and indirect costs associated with cash handling, including employee hours and recurring fees, aligning perfectly with Lids's strategic objectives to enhance operational efficiency.

Since implementing Clip's solution, Lids has saved approximately $2,000 per store annually. This resulted in an impressive 53% reduction in total cash management expenses, compared to traditional bank deposits. 

"Clip enables our stores and head office team to streamline cash operations with visibility and accountability throughout the entire deposit process in real-time, while significantly reducing direct and indirect costs. Now our store managers and employees can focus more on our valued Lids customers.” — Brogan Butz, Cash Management Manager at Lids

Discover how Clip can transform your cash management operations. Contact us today! 

Learn more: clipmoney.com/how-clip-works

Find Clip near you: clipmoney.com/locations