When Kurt Williams was working his way up through the tribal casinos of Oklahoma, he began to realize how difficult it was to keep track of all the cash transactions in a hotel casino environment. Spreadsheets filled in manually by employees in clunky Excel programs seemed to be the only answer.
“And tracking was just part of the problem,” he says. “We needed controls, too, and spreadsheets don’t offer a lot of controls for casinos.”
So Williams and his partner Drew Word (his former college roommate) created Casino Cash Trac, a company that automates cash transaction tracking throughout a casino hotel, complete with full reporting and controls.
Williams says it has gotten even more difficult to track since casinos have so many databases—tracking cage/vault transactions, the CMS system, food-and-beverage system… “Now we have kiosks, cash dispensers, promotional kiosks,” he says. “Each casino now can have 10 or 12 databases. Right now, they go to each of those databases, and bring them together through spreadsheets to try to do the audit. Our business intelligence software can bring all the information together to streamline that process.”
Williams has a background in accounting and is a CPA, while Word is a certified fraud examiner. They took a different approach—a debits and credit model.
“We didn’t take the process they already had set up and try to repair it,” he says. “We stepped back and realized that the transactions to and from the cage to the vault were simply accounting transactions. We were able to build a very smooth work-flow process around that. Some systems out there help one department or another, but our process dramatically speeds up the process and benefits every department.”
Casino Cash Trac has been so successful it was named one of the 500 fastest growing companies by Inc. magazine, and the fastest growing company in Oklahoma.
“I can’t imagine a better place for our company to start and grow, and take what we learned in Oklahoma to the world,” says Williams.
Casino Cash Trac software is scalable, says Williams.
“There has to be a return on investment for all software purchases,” he says. “We work very closely with our clients, big and small, to make sure they will get that ROI.”
While Williams appreciates the honor of being named one of GGB’s
40 Under 40, he gives all credit to his partners—Word, Blake Doerr and Wanor Franca, along with the other employees in his company.
“We have an incredibly talented team,” he says, “and they deserve this recognition as much as I do. If you don’t surround yourself with the right people, you’re not going to win.”