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. 

4 Factors to Consider When Buying a Smart Security Safe

Many cash intensive businesses are switching to smart security safes from their regular safes to reduce the losses arising due to lack of proper cash management, and to increase the productivity of their employees. Businesses that install security safes are not only able to recover the cost of installation in less than an year, but are also able to save a lot of money over and above their initial investment costs. If you run a cash intensive business and are looking to upgrade your existing cash management system or install a new cash management safe, here are the points you must consider when buying one.

1. User Interface

When purchasing a smart safe choose a safe with a durable and easy to access user interface. User interface is subject to extreme environments such as spills, scratches, impacts,and others. Therefore, it needs to be durable and robust to survive those conditions. Similarly, the user interface must be easy to access so that anybody accessing the smart safes does not need extensive training for using it.

2. Cost of Maintenance

Smart safe maintenance helps  prevent lockouts and keep the downtime as low as possible.It is, therefore recommended that businesses must go for periodic maintenance of their smart safes to avoid any complications that may hamper their operational efficinecy, and might also lead to customer dissatisfaction. Before finalizing a smart safe ensure to find out about the maintenance costs as these may vary from one safe to another.

3. Availability of Parts

Talk to more than a few smart safe manufacturers and vendors, to find out about the availability of spare parts of the safe you are planning to buy. It’s advisable to avoid safes with limited availability of spare parts or if their parts are exorbitantly priced; no matter how less they might cost you. Remember, limited availability of spare parts also means that businesses will have to face a substantial downtime, something that businesses with high volumes can’t even imagine.

4. Savings

Security safes help businesses save money in more than a few ways. For instance, they help reduce cash shrinkage, avoid counterfeit bills, reduce the number of armored car pickups, require a lesser number of employees for cash handling and many more such ways. When buying a cash safe you must check how efficient it is and what are the savings it can provide. For example, higher the counterfeit detection ratio of a smart safe, lesser the number of counterfeit notes that will pass through the system.

Conclusion

Though cost is one of the most important determinants when purchasing a smart safe, it should not deter you from buying a safe that best suits your business needs and fits all criteria mentioned in this blog. The reason is simple, your saving while using the security safe would be much more compared to any other safe that may not be the apt match for your business.  

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.

Security Safes: Are You Making The Right Business Choice?

Cash Management can significantly impact the time and labor invested in a business. In order to make cash handling easy and keep the cash or other valuables secure, new age smart security safes are the solution of choice. Though some of the safe manufacturing and services companies  go a step further in their service provision --  to actually help you evaluate your current processes and solutions with a view to determine the best security safe for your business -- it is always a good idea to be proactive and get some unbiased security safe buying tips on your own.

Here are some factors that will help you determine which safe is best suited for your business requirements.

1. Volume of Cash or Valuables Involved 

Depending on the volumes of cash that a security safe has  to store or dispense, there is a broad range of safes available in the market. The safe sizes vary, from the ones that handle  a few hundred dollars to top-end options that are used in high cash volumes locations. (Example - the Casinos in Las Vegas). It is therefore, recommended that you go through your cash flow statements to determine the exact requirement for your cash handling.

2. Type of protection required

All safes are required to maintain certain security standards, such as burglary resistance, fireproofing, and  others. Apart from this,  insurance companies also provide coverage to the safes with specific minimum safe ratings only. Depending upon the nature of the valuables that need safekeeping, you will be able to determine the type of safe and degree of protection you need. For example, if you have non-negotiable paper documents to store, a fireproof safe is what you need. However, for the purpose of securing bullion, coins or jewelry, a burglary resistant safe is what you need.

3. Space for Installation 

The space that is available for installation is another determinant that should never be missed at the time of purchasing a safe. One very important points that you must be aware of while determining the size of the safe you require, is the fact that there may be a considerable variation between internal and the external dimensions. Therefore, you must measure the space that is available before you go ahead to order a safe.
 
4. Number of Currency Detectors needed
Also known as bill validators or currency validators, their job is to determine if the bills or coins are genuine or not. The number of validators you require would in turn depend on 3 factors.

• Capacity

If the volume of cash to be managed is huge then you require more validators, but the number of validators you can actually install in the safe depends on the capacity of the safe.

• Redundancy  

Installing extra validators that can be used in times of emergency is a great idea. They are handy in case of failure or breakdown of one or more validators .

• Acceptance Rate

To be able to accept more currency notes in a short time period, either the acceptance rate should be very high or you may have to increase the number of validators to alternate your deposits between the available validators.

Word of advice
Price is obviously a major determinant in choosing the right safe. However, instead of looking for a cheap safe, you must look for one that is cost effective. In other words, the best security safe for your business is not the one that is cheap but one that is cost effective, and suits your business needs.

Guidelines for Choosing the Right Commercial Safe

Cash management has been a challenge for almost all the businesses. Many people still prefer to make cash despite the introduction of new methods of payment. Handing a huge amount of cash manually is prone to errors and the risk of theft. Traditional safes that can only store cash may not be of help in such situations.

An updated cash management system like commercial safes can be of great help in this situation. The smart safes  automatically validate, accept, record, and store notes in a full-proof secured environment. Before you shortlist a smart safe, it is advisable to assess the security risk to determine the type of safes your business requires. Read on to know the factors that you need to consider when buying a smart safe.

Important Features of Smart Safes

• Automated operation is an essential factor that needs to be considered while selecting a smart safe. It refers to automatic cash collection, counting and recording the transactions that were done during the day.
• Bill validation is another essential factor that needs to be considered for commercial safes.  Safes with optical sensing technology detect all types of fake notes, and bills.
• The wireless and LAN connectivity need to be considered when selecting a smart safe. These factors provide operational flexibility including provisional credit, and real-time auditing.
• Choosing the right sized cash safe is necessary as it will help in saving your time and money. Buying a too small or big safe will not solve the purpose as you may end up spending more money on transferring the cash or maintaining the equipment.   
• The smart safe that you choose needs to be easy to operate to save your time and money. For instance, depositing money into the smart safe needs to be effortless for the cashiers. Look for safes that take into consideration the user experience and interfaces. A complicated cash management system may increase your operational costs and lead to errors.

 Conclusion
A safe that has complicated menu structures and deposit procedure will not serve the purpose. Commercial safes make your work easier provided you choose something according to the size of your business and easy to operate. Selecting the right safe will save your time and money by increasing your overall productivity and efficiency.

Collect and Secure Cash with Cash Management Safes

Are you looking for smart technology for securing a cash-intensive environment? Cash management safes are the ideal solution for you. These will save employees’ time that they spend for counting cash. Instead, they can focus more on the key business areas.
 

A cash management smart safe can secure cash while reducing the chances of internal and external thefts. It will put an end to the time-consuming and traditional manual cash management process.
 

Who Can Use Cash Management Smart Safe?
Cash management safes are being used across a wide spectrum of businesses that have a common requirement, which is need for a reliable solution to manage cash in an effective and verifiable manner. These are installed everywhere from restaurants to gas stations, hotels and retail stores.
 

How Smart Safes Work?
Smart safes come with in-built counterfeit detection, security and live reporting features to help businesses save time and money while improving their productivity. Let's look at how cash management safes can help you collect and secure cash:

• When a cashier feeds currency into the bill acceptor, it verifies the notes by denomination and stores them in the safe.

• The accuracy level of machines is high and managers don't need to recount the deposited amount. So, it gets easier and safer for everyone to work in a cash-intensive business.

• Cash management safes provide real-time visibility of the cash deposits. These can present the activity reports base on business day, shift, transaction type and many other parameters.

• These maintain a perfect cash count, which is ready to be printed instantly.

• Change fund of coins and rolled currency can be loaded into the safe easily without having to worry about employee security and other kind of interruption.

• Smart safes can also securely transmit the electronically recorded data in real-time to key stakeholders for reporting purpose.

Summing It Up
While these are some of the advantages and functionalities of cash management smart safe, there are several other ways by which businesses are getting benefited with these advanced products. A smart safe gives peace of mind to businesses as their cash is in safe hands and every activity is being continuously reported so that there’s no incident of cash theft at any stage.