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.

Automated Cash Management Systems: Transforming Your Business Dynamics

Revolutionize. That’s what you need to do if you are looking to streamline your retail business contemporarily. You are already counting stacks of cash, and facing infinite customers every day. In these circumstances when every rising sun brings along with it a bunch of new challenges, you need to invent new ways to beat them. Fortunately, you don’t have to be a scientist, neither some techy to do this, as the world already has efficient cash dispensers that are nothing, but automated cash management systems waiting to get installed. Let’s sight 3 wonderful things, for now, they can do to your business.

Increased Time to Customer Service

No matter the type of retail business--big box, convenience store, casino, or a restaurant--when you manage cash manually, the queues at your store or shop are bound to extend, making every customer wait more, and slow down your overall operation. Smart safes automate the entire cash management process. As there is a machine always there to count, recount, dispense, store, and safeguard your cash, you have more time at your disposal, which you are able to dedicate towards customer service. The result, building of long-lasting relationship with your customers, loyalty, and more business referrals.

Enhanced External and Internal Security

Automated cash management systems such as smart cash dispensers are both machines that maintain an accurate cash flow, and vaults that lock your money safely. Built with premium grade steel, and equipped with counterfeit technology, they secure your business both against internal shrinkage and external theft. Many smart safes, in fact, come with alarm triggers, and hot keys that lock down the units in emergency situations, to help you secure your money. Moreover, with access to only authorized users, and a comprehensive recording of every transaction electronically, your business always has access to every minute detail and person who deposited or withdrew the cash, and for what purpose.

Increased Accuracy

Sticking of bills, transposition of numbers, and miscounting are all natural phenomenons when you take the manual way to count cash. After all, to err is human. Automated cash management systems, however, eliminate such errors. By maintaining an accurate count of cash flow, and identifying any and all counterfeit bills, they keep you at peace at all times. Naturally, when you know that there is no room for counting error, you can question people managing your business money for every missing cent.

Conclusion

Modern currency recyclers and smart safes are revolutionizing the way banks, credit unions, retails stores, and other businesses work. In the event where every customer looks for fast paced lanes, and every fast transaction is so vital to your business profits, automated cash management systems are an optimal solution to enhance your client acquisition rate and improve customer engagement. Hope, when it comes to using latest technologies in this direction, your business is not left behind.

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.