G4S keeps TfL on track18 April 2012
G4S Cash Solutions keeps Transport for London on track
G4S Cash Solutions (G4S), the largest provider of cash solutions in the UK, has been appointed by Transport for London (TfL) to manage the organisation’s cash flow for two years in a deal worth more than £1million.
Building on their existing five year partnership, G4S Cash Solutions will now account for all cash processes across at least two thirds of London’s underground.
Cash handling equipment provided by G4S reduces the time spent tracking money by TfL employees by approximately 30 minutes per shift allowing that time to be spent meeting the needs of those using the London Underground.
Jeremy Hook, National Account Manager at G4S Cash Solutions (UK), said: “It is vital that a transport network as busy as the London Underground operates efficiently from the train platforms to the back office. We are keen to build on the cash management improvements established so far and ensure that Transport for London has a robust end to end service for its customers.”
Andrew Key, Revenue Interface Manager at Transport for London, added: “Catering for commuters and visitors to London is no mean feat so we needed a cash services provider who could offer a tailored service which allows us to track and circulate cash across the network. G4S has proven that it can support us with a dedicated team of employees who understand our business needs and objectives.”
About G4S Cash Solutions (UK)
A subsidiary of G4S plc, G4S Cash Solutions is the leading UK provider of cash solutions, including secure cash transportation, ATM outsourcing solutions and outsourced till management. In the UK we deploy over 6,500 employees and utilise a fleet of around 2,000 vehicles throughout a network of 43 cash transportation branches and 10 cash and coin centres.
About G4S plc
G4S is the world's leading security solutions group, which specialises in outsourcing of business processes in sectors where security and safety risks are considered a strategic threat. G4S is the largest employer quoted on the London Stock Exchange and has an additional stock exchange listing in Copenhagen.
G4S has operations in more than 125 countries and more than 635,000 employees. For more information on G4S, visit www.g4s.com
About Transport for London