________________________________________________________________________________________________________________________
Basingstoke . These big facilities were taking all the profits away ,” Barrie reveals .
“ We were finding that it was very high cost to manufacture , so , in 2023 , we reorganized and closed the headquarters and the manufacturing facility in Dallas . We purchased all the assets from Cash Processing Solutions and maintained key people . At the same time , we also bought all the patents , and we restructured the group .
“ We separated the Enterprise Cash Management software from CPS and introduced a new global manufacturing facility . Now , we ’ ve got around 400 people across the world . Our customers are companies like the Bank of England , the Bank of Canada , the Bank of Iraq – all the major central banks – as well as HSBC and NatWest .”
Alongside operational restructuring , sustainability is another key pillar of CPS ’ transformation strategy . “ We found that those big machines that we ’ re selling aren ’ t
very environmentally friendly ,” Barrie shares . “ Our machines are made of aluminum , and they ’ re between one and two tons in weight , and that ’ s 11.5 tons of CO 2 for every ton of aluminum , so the industry was actually embracing a bad environmental footprint . We thought we could change that and asked ourselves ‘ how do we take on the bigger players ?’, and our solution was sustainable cash processing .”
After assessing its sustainability approach and the needs of its clients , CPS investigated different types of green machines with a smaller footprint and decreased power consumption , and offered its customers two solutions .
“ We gave our customers two options . The first one : don ’ t buy new – keep the big machines and upgrade them ,” Barrie describes . “ We ’ ve had machines out there since 1988 , but they ’ re all fully equipped with high specification cameras , magnetic
106