Currency Manipulations and Preventive Mechanisms: A Brief Guide for Retail Businesses

Cash is the king and where there is cash there are always chances of cash shrinkage. Retail businesses face the challenge of handling a large cash volume on a daily basis. Dealing with a large amount of cash increases the probability of manipulations and leads to internal and external thefts. The blog post discusses cash shrinkage challenges faced by the retail stores along with possible preventive mechanisms.

1. Cash Theft

Internal cash thefts take place as a result of discrepancy in the cash handling process. A cashier can collect money and not make an entry in the cash register, which makes it easy to remove the cash at the end of the shift. Such cash manipulations are often unnoticed due the absence of an automated process to record each transaction.

Using an automated cash safe can prevent such instances of theft. A cash safe not only stores money but creates an electronic record of every cash transaction. Automated cash management systems provide real-time reports to audit the cash transactions. Cash safes eliminate the need for handling cash manually, minimizing the possibility of manipulations and reduces the instances of internal and external thefts.

3 Ways Smart Safes Boost Business Productivity

Cash transactions in retail businesses happen in a jiffy and the focus of cashiers always lies on cutting down queues, as soon as possible. Ironically, in the race of reducing queue numbers, the efficiency of cash handling is often compromised. Reckless human intervention increases the chances of accounting errors, whereas any loose end may may result in cash shrinkage. Any discrepancy in the sales and collection at the end of the day is questionable and may cause problems for the cashiers.

A cash management safe helps in counteracting such challenges faced as a result of manual cash management and improves the productivity of the employees. Let’s discuss three ways cash management systems boost the productivity of the employees.