4 Focus Areas to Buy the “Right” Smart Safe for Your Retail Business

Cash management is always a concern for retail business, be it big-box retailers, specialty stores, restaurants, or movie theaters. In the absence of an effective cash management, your business can suffer from issues such as internal shrinkage, cash counting errors, burglary, and even counterfeit bills. A robust cash management, on the other hand, can beat these odd possibilities, mitigate cash-in-transit worries, and provide more time to cashiers to concentrate on core business issues. When considering to buy a smart safe you need to consider various factors. The blog discusses four focus areas that will help you buy the right smart safe to automate the cash management of your business. 

1. Cassette Capacity 

The amount of cash a safe can deposit in one go depends on its cassette capacity. The cassette capacity also affects the transaction speed of your business. Before buying a cash safe, analyze the denominations in which your business receives the bills. If you receive many small denomination notes, for instance, you may need to consider buying a smart safe with a high cassette capacity. 

2. Size

You need to purchase the right-sized safe for your business to ensure its optimal use. Purchasing a too large safe would mean a waste of resources, whereas, a too small safe would require you to frequently transfer money to the bank, which means spending more in armored services. 

3. Counterfeit Detection 

Ensure that the safe you purchase has counterfeit detection technology, to avoid incurring losses as a result of receiving fake bills. As far as choosing the counterfeit technologies is concerned, your options vary from counterfeit pens, UV light to watermark and magnetic ink detection. 

4. Bill Validator

Bill validators are available in two categories: single and bulk-note validator. Single-note bill validators are less expensive and offer a significantly lower jam rate than bulk-validators, which provide great uptime results. Bulk-bill validators, on the other hand, can stack up to 30 bills at a time, besides the fact that they accept bills almost 98 percent faster than single-bill validators. 

Conclusion

Considering the above four factors can significantly help in choosing a smart safe and rightly automate your cash management system. Whether you get in touch with a safe manufacturer in San Antonio or any other area, ensure that you check the smart safe has the features mentioned above. Simultaneously, always consider a professional money counting safe as even the best bill validators require regular maintenance. 

5 Ways CacheNET 5000 Streamlines Retail Cash Management

Technology is changing every passing day in every facet of life and business. It is now in the best interests of retail store owners to leverage state-of-the-art technology, such as commercial cash handling safes. Commercial safes not only streamline the cash management process within a store but also eliminates the risk of any human errors. This post highlights some of the advantages of CacheNET 5000, a heavy duty, back office solution for most cash-intensive businesses such as retail stores. It helps store owners streamline their business processes in a cost-efficient manner. 

1. Cash Collection and Management 

CacheNet 5000 collects and secures cash in an efficient manner. It eliminates the need for manual collection and calculation, thereby freeing up the workforce for better customer services. The safe comes with a smart locking system that reduces the risk of robberies, prevalent in the case of manual cash handling. 

2. Currency Validation 

The safe is powered with Cummins’ bill counting technology that allows it to differentiate between genuine and counterfeit bills. The high-capacity locking cassettes stores up to 5000 bills, reducing the need for frequent money transfer to the bank. The best part is that the cash is easily returned if the transaction is canceled, without exposing the rest of the cash to theft or other loss. 

3. Automated Accounting 

The safe offers an automated accounting solution regarding audit and report activity. Store managers often spend a large portion of their time maintaining the log book, managing employee payrolls and keeping track of other financial obligations of the company. The smart safe automatically generates receipts at every deposit making it easy for a manager to produce bills for every transaction at the time of the audit. 

4. Coin Collection 

Coin Collector is an optional component of the CacheNet 5000, which further improves the cash collection process. It can easily count and sort bulk coins, which are then stored in removable steel canisters by denomination for recycling and to easily pour them into bags for bank deposits. 

5. Reduced Cash Transit Cost

As the safe easily configures into one or two 2200 notes cassettes, the frequency of cash transportation to the bank gets reduced. This, in turn, reduces the transit cash cost of the vehicle that is used for the transportation. 

Wrapping up

In this digital and highly competitive world, the need of the hour for every business is to offer hassle free shopping experience to their customers. This is when commercial safes such as CashNET 5000 play a pivotal role in streamlining store’s overall cash handling process, freeing up the workforce to focus on client services. When purchasing cash dispensing safes, ensure that they are equipped with advanced features aligned with your business needs.