Beryllium Limited has made an undisclosed investment in new cash counting hardware and software from international technology partners Giesecke+Devrient (G + D).

The new “Smart Teller” will allow high-volume cash handlers to process funds faster, the company promises in its market push for adaptation.

Provider G+D, is a German company headquartered in Munich that provides banknote and securities printing, smart cards, and cash handling systems.

Lititia Myers-Gray, president and CEO — Beryllium Limited, told the Jamaica Observer, “We are committed to providing solutions to our business partners that bring efficiency to their processes and drive cost savings. As companies work towards streamlining their back-office processes, Beryllium’s partnership and investment with G+D will see us able to quickly deploy these machines as required.”

She told the Business Observer that Beryllium will introduce “this and other innovative solutions” in the islands where Guardsman currently has a footprint and some new markets to come, later this year.

Beryllium is a subsidiary of Guardsman Group Limited, which operates in Jamaica, St Vincent and the Grenadines, St Lucia, Barbados, The Bahamas, and Bermuda. The company, which specialises in security systems and cash management, is over 40 years old.

Myers-Gray declined to share investment costs and projected breakeven, stating, “This is confidential.”

However, the executive explained, “G+D enabled us to introduce compact and versatile high-performance cash counters to streamline back-office cash processing. G+D is known globally for creating innovative security solutions for reliable protection of highly critical sectors such as currency management. Our partnership should see small and large enterprises locally able to leverage technology for their manual, costly, high-risk back office processes.”

Purchase comes with daily service. Smart Teller service team members from Beryllium Limited visit client locations to process the transactions on-site for each cash handler. “The client can access their cash faster and simplify their internal reconciliation,” Myers-Gray said.

The smart teller is targeted at high volume cash enterprises with multiple cash handlers — eg distributor type entities. Service cost is customised based on the client’s operations and needs, said the CEO.

Myers-Gray told the Business Observer that the company is the main player in the cash management market in territories targeted, declining again to comment on how the new technology is projected to support market growth.

She commented, “Beryllium is a dominant player in the currency management industry regionally.We have a team of experts that is committed to provide innovative solutions to our clients to streamline their currency management processes.”