Transport for London (TfL) has appointed G4S Cash Solutions (the cash movement arm of G4S) to manage the organisation’s cash flow for two years in a deal worth more than £1m.
Building on their existing five year deal, G4S Cash Solutions will account for all cash processes across at least two thirds of London’s underground network. Cash handling equipment provided by the security contractor reduces the time spent tracking money by TfL employees by about 30 minutes per shift.
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.”
And 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.” For more information on G4S, visit www.g4s.com.
