Managing a business is never easy. One of the most vulnerable aspects to this is protecting your cash. It is crucial for businesses to be able to have complete transparency into cash flow from the time a customer pays until it has been securely deposited in the bank. The challenge is that there are many transaction points between these two moments. That’s where smart safes come in. Smart safes provide safety, security and accountability. These safes help you reduce costs and control cash flow.
What are smart safes?
Time constraint and increased competition have made it necessary for businesses to find a cost-effective way to keep track of cash transactions. Smart safes were designed to store, monitor and manage cash revenues. Additionally, since securing cash is also important, smart safes have built in security features that protect your cash from misappropriation and theft.
These safes function like reverse ATMs. They count, accept and validate bills. When bills are deposited, they stay safe until they are picked up by a cash-in-transit (CIT) provider. A smart safe can also be connected to and monitored by the CIT provider. This feature means you can receive credit notifications for the money that is deposited into your bank account on a daily basis.
Benefits of using a smart safe
The manual process of counting cash is time consuming, risky and prone to occurrence of errors. One of the benefits offered by a smart safe is that it counts the money for you without human error. This saves time and money, but also improves efficiency and productivity. Additionally, many smart safes include leading security features such as counterfeit detection technology. They are designed to securely store, monitor and control cash revenues, thereby reducing the chances of theft.
