When it comes to keeping cash secure, there is no one-size-fits-all approach. Cash-handling touches virtually every consumer and industry, from grocery and retail to quick-service restaurants and convenience stores. Even concert venues and hotels need reliable cash-handling equipment tailored to resolve each industry’s unique challenges.
With more than four decades developing solutions for these diverse industries, Tidel is a market leader in technology-enabled cash automation solutions. From its headquarters in Carrollton, Texas, Tidel manufactures different models of cash automation solutions across three core categories: smart safes, cash recyclers and Timed Access Cash Controller (TACC) systems. Each model and product type meets the needs of its broad range of customers while keeping cash safe.
Given the company’s long history, Tidel is no stranger to developing new products and adapting solutions in lockstep with the pace of innovation. Recently, Tidel’s management team faced a similar push for innovation, this time on revamping its internal data management and organizational processes to optimize product management.
With so many models to manufacture, Tidel’s team needed help managing detailed product data in a single, centralized system. Standalone spreadsheets, disparate documents and siloed data processes from decades ago were no longer working for Tidel’s product managers.
“By far the most powerful intelligence in product management involves product strategies, price/value maps and competitive landscape—those all give you the picture of what you need, why you need it and how to beat the competition,” says Debby Davis, director of product management and development at Tidel. “I was searching for tools that would allow my teams and I to focus on strategy versus manual updates of data and information.”
As a solution, Tidel shifted toward agile product management and manufacturing practices to better scale its business. Using cloud-based product management software designed to save and share product data across the entire company, Tidel broke down previously existing data siloes and barriers to its tech infrastructure and streamlined processes previously developed manually, such as competitor price-value maps.
Because current all-in-one product management software allows companies to put equal focus on early-stage product planning and product management further down the cycle, Tidel has a consistent way to conduct research, compile datapoints and communicate product concepts from a business perspective. Debby and her colleagues can better evaluate new ideas, leading to new opportunities for cash automation solutions that will solve challenges hitting the market years down the road.
Ultimately, Tidel’s focus in streamlining its product management strategy has allowed the company to align its business resources using a single source of product data truth. This has helped the company become more efficient at evaluating design and manufacturing product feature decisions while limiting one-off product requests.
With this new product management shift, Tidel is bringing scalable solutions that solve market-wide issues for many of Tidel’s diverse customer industries.
Effective data use in product management is the power behind a future-ready—and future-safe—organization.
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