This month, we had the privilege of speaking at IDEA Week. Coordinated by the University of Notre Dame and regional government and organizations, IDEA Week offers the opportunity for bold thinkers and tech enthusiasts to come together to play, compete, meet, and learn.
Our presentation outlined a remedy for the cashless controversy. In particular, it looked at the controversy through the lens of digitizing cash.
Digitizing cash facilitates mutually beneficial opportunities to both business, including retail and grocery, and consumer.
By integrating automated cash management, which incorporates cash recycling, businesses can offer cash as a payment option. Simultaneously, businesses increase operational efficiency and decrease costs.
A recent USA Today column, entitled Why a ‘Cashless Society’ Wouldn’t Work in the US: Readers Sound Off, describes how cashlessness is a hardship for the unbanked and the underbanked. These victims of the cashless movement make up 25% of the U.S. population.
Data from the Federal Reserve cites cash as the most frequently used form of payment. The data shows that cash comprises 30% of U.S. consumer transactions – more than any other form of payment, including various digital payment options.
At IDEA Week, we also had the opportunity to hear from Paul English, KAYAK Co-Founder. Since successfully selling KAYAK for nearly $2 Billion to Priceline, English now serves as CTO of Lola.
During his talk, English highlighted automation as a major industry influencer.
As we leverage automation every day to reinvent the back office, we couldn’t agree more!
By streamlining back office operations, our automated solution suite gives employees more opportunities to impact front-facing operations. Furthermore, by facilitating automated cash management, Evention provides common ground for businesses and consumers.
Automation truly serves as tech for both growth and good!
