Small Business Client Story

Client Story – Harbourmaster Switch to Cash Supply and Collection

“When my accountant showed me the difference in fees it was a no-brainer really…. I wish I had made the move earlier, to be honest! There were significant savings to be made, of both money and time.”

Rory Killeen – Manager, Harbourmaster

Introduction

Meet Rory Killeen Manager of the Harbourmaster Bar & Restaurant in the IFSC, Dublin City Centre. The Harbourmaster is in the heart of the vibrant business district at the IFSC in Dublin 1. From business lunches to after-work get-togethers and all events in between, the combination of the central location, beautiful historic building, great quality food and service, has meant that the Harbourmaster continues to be a bustling destination in the City Centre.

As Manager of the Harbourmaster, Rory’s role is broad at the best of times, ranging from front of house to overseeing staff, managing profitability, and all operational needs including cash management, security and cash availability, in order to facilitate a busy venue to trade. Rory made the switch from depositing the businesses cash in the bank to using GSLS for cash pick-ups and deposits and hasn’t looked back since.

Why the move to GSLS?

Rory had been walking to the bank with his cash deposits daily, sometimes multiple times per day. The exercise was welcome, and Rory simply saw it as just a necessary evil, in managing the right cash level in the business.

Rory had a eureka moment during a meeting with his accountant. His accountant outlined the fees using GSLS versus the fees with depositing directly to the bank. The difference was quite surprising PLUS Rory realised that GSLS would be able to collect and deliver cash to the business, saving him huge amounts of time in his week!! In his own words:

“When my accountant showed me the difference in fees it was a no-brainer really…. I wish I had made the move earlier, to be honest! There were significant savings to be made, of both money and time.”

How difficult was it to set up an account and get things up and running?

Once Rory realised the potential savings, there was no delay in contacting the team at GSLS, and everything went very smoothly from there. The process was simple, Rory wasn’t bogged down with paperwork and in three easy steps the Harbourmaster and GSLS were ready to start working together:

  • After a conversation with the account set-up team an account was set up within 10-14 days
  • Initial agreed delivery and collection times were established
  • Service started – GSLS worked with Harbourmaster to refine arrangements for collection/delivery, so everything runs as smoothly as possible, and the schedule suits the business

Rory mentions specifically that he found it great to deal with real humans to set everything up. He has a dedicated account manager at GSLS if he has queries or any changes required by the business.

How does it work now?

Now the Harbourmaster are well established with their cash management, GSLS has designated windows where they deliver and collect cash.

When cash is collected, it is processed at GSLS and lodged in the Harbourmaster bank account overnight, so it is in their account the following morning.

In the last couple of years, with Rory and his team having to adapt to all of the changes required to trade safely during Covid restrictions, it has been helpful that cash management was one less headache to have to consider. Rory was glad that decision had been made in advance of Covid, so everything was already in place.

Does Rory miss his walk to the bank?!

Rory has had to find other ways to add his exercise into this day!

The Harbourmaster is trading fully as business life has resumed in Dublin’s City Centre, and Rory, like many other managers and owners, is busier than ever with all the other aspects of running a buoyant hospitality business.

On reflection Rory admits that these days, there is no way he would have the time in his jam-packed day to be doing trips to the bank, so he’s delighted to have that time in the business, tending to other important decisions. He estimates that over time GSLS has saved him 10 hours each week.

Any other advice for other businesses considering using a cash management provider?

In Rory’s words: “Just do the numbers and you’ll see for yourself.”

In every business, business owners & managers are trying to remove costs and find more efficient ways to use their time. With staff shortages impacting businesses across the board Rory taking time out to count and deposit cash each day was not ideal, and he’s glad to be able to have this time back.

GSLS’ cash management services including cash delivery, cash collection, cash processing and cash-in-transit, provides a single, simple, cost-effective solution, removing hassle and cost every day.

Get in touch with a member of the team to find out how much your business could save.

sales@gsls.ie

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