4 Key Features to Seek in Modern Cash Handling Safes

In today’s fast paced environment, cash intensive businesses need to adopt reliable and efficient cash handling safes in order to streamline operations and optimize profitability. Businesses that process a large number of cash transactions on a day-to-day basis are always vulnerable to external and internal thefts, possibility of human errors, and data management glitches - all of which impact the overall productivity and profitability of the business, and the level of customer satisfaction. That explains the reason why an increasing number of businesses are incorporating automated cash handling safes. Now, the question is: how to select one?

To help, here are four essential features you must look into, when it comes to buying smart cash handling safes:

Real-Time Tracking

The traditional practice of managing multiple registers and maintaining tills is a time consuming process and affects the productivity of employees. Innovative cash handling safes automate counting, coin collection, and various other aspects of the cash handling process, thereby minimizing the need of dedicated professionals. These safes maintain an accurate count of the cash deposited and automatically records the data, ready to be printed at any given point in time. Each deposit inside the safe is electronically recorded and can be securely transmitted to all stakeholders. Besides, offering real-time tracking and comprehensive audits, smart safes provide seamless cash transfer from the point of sale to the bank.

Built-in Counterfeit Detection

Considering the free circulation of fake money, counterfeit detection should be one of the primary concerns when looking to buy smart cash handling safes. All direct sales businesses lose an incalculable sum of money in counterfeit currencies, which may have a notable impact on their profits and growth. State-of-the-art smart safes come with a sophisticated built-in counterfeit detection system to save businesses from forgery. Look for a manufacturer that is known to use advanced counterfeit technology in safes.

Coin Acceptor

If your business deals with small value transactions and has to accept a large number of coin, make sure the cash handling safe you buy is equipped with a coin acceptor and dispenser. A coin acceptor and dispenser makes it easier for business to count and sort the received coins according to their value. It sorts coins by denomination and pour coins into a collection bag to be transferred to the bank.

High Security Locks

In addition to advanced cash management features, the smart safe you select must have a robust locking mechanism. An advanced locking system not only minimizes the possibility of burglaries, but also eliminates internal thefts, to a large extent. It is better to install a safe with a key that cannot be duplicated; better yet, go for a safe that also has an electronic locking system as well as a high security lock.

Conclusion

Cash intensive businesses need to optimize their operations by embracing progressive strategies and technologies, in order to gain a competitive edge. Handling cash manually brings many challenges and that’s the reason why an increasing number of businesses are turning to smart cash handling safes. Smart safes not only streamline start-to-end cash flow but also reduce the risk of internal shrinking and robbery. But when it comes to buying one, make sure you consider all the aforementioned factors before making the final pick.

Coin Acceptor - A Smart Solution for Cash Management

A coin acceptor is an electronic device that validates coins deposited based on physical properties. The machine checks the diameter, magnetic content and thickness, and then sends a signal to the output connector. Once deposited, the coins take different routes to start the validation process depending on its mech. Whichever route the coin follows, it will pass through a series of sensors.

Optical and inductive are some of the most common sensors that are used for this purpose. While the optical sensors use light beams to measure the size of the coins, the inductive sensors help in determining the denomination and type. These measurements are done quickly. After the coins have been scanned, the validator decides whether to accept or reject the coins that have been deposited. When the coins pass through the sensors the readings are compared with a pre-programmed parameter that exists in the memory of the coin acceptor. If the coin is not valid, it’s routed back to the reject cup. This will save time and also help you detect counterfeit coins within a short span of time

Advantages of Using an Advanced Cash Management System
Advanced cash management systems  increase workplace efficiency.  Cashiers don’t have to recount coins at regular intervals with a coin collector. It also increases accountability as bills and coins are verified for the denomination and immediately stored in the safe. The main advantage of using an advanced cash management system like a coin acceptor is that it helps in detecting counterfeit coins.