What Are the Most Effective Cash Management Solutions for Casinos?

    Mar 06 2017

    Topics: cash management

    Cash and casinos go hand in hand. Casinos continue to deal primarily in cash and handle large volumes on a daily basis. With all of that cash entering and leaving casinos every day, it is vital that they exercise proper cash management procedures. While cash may equal big profits, it can also mean big losses if it isn’t well managed.

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    Developing an effective cash management plan for your casino means that you will increase your profits and boost efficiency all while cutting costs. If you are still counting, sorting, and managing cash flow by hand, your business is losing time and money every day. Introducing automation into your casino has many benefits that will improve the efficiency and security of your establishment.

    Don’t miss the chance to transform your casino’s daily operations.

    Here are effective cash management solutions that will get you on the right track:

    Currency Counting and Sorting Technology

    Counting cash by hand may seem like a secure method, but it actually slows down your cash handling processes. Consider how much money you spend on labour during the counting and sorting process, not to mention the amount of time spent on re-counting and trying to correct cash handling errors.

    Investing in currency counters and sorters will alleviate the pitfalls of manual cash counting. Currency counters and sorters will reduce your labour costs while also guaranteeing that your cash processing is completed error-free. If you consider efficiency to be a priority, investing in automation will provide that and more. Introducing technology is an investment in the future of your business.

     

    Currency Recycling Technology

    Businesses that handle large volumes of cash can easily get bogged down with processing, transporting, and depositing cash. When your business accepts large amounts of cash in a given day, doesn’t it make sense to have that cash ready to re-use as soon as possible? This is where a currency recycler can help!

    Currency recyclers are all-in-one systems that accept cash, dispense floats while counting, sort, and verify the authenticity of your cash. They have the ability to keep track of your totals throughout the day so that your staff do not have to manually complete the cash management process at the end of the day.

    Currency recyclers also securely store your cash, which can only be accessed by using a personal identification number. The security features of currency recyclers will prevent the risk of both internal and external theft by reducing the visibility of and access to your cash assets. Currency recyclers boost your efficiency and accuracy, both of which are vital to the success of a casino. Investing in automated cash management solutions is the best way to protect and grow your cash-dependent business!

    A CFO's Guide: How Cash Handling Is Affecting Your Bottom Line

    Andrea Lombardi

    Andrea Lombardi

    Andrea joined the CashTech team upon its inception in 2003. Learning the business from the ground up, she now utilizes her expertise in account management, planning, and negotiation while managing the daily operations of CashTech’s sales, marketing, and logistics departments. Andrea holds a bachelor’s degree from the University of Western Ontario. She enjoys travelling and has a passion for personal fitness, including obtaining her kettlebell certification. Andrea lives in Toronto with her husband and two young sons.

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    CashTech Currency Products Inc.
    1040 Cardiff Boulevard
    Mississauga ON, L5S 1P3

    905.696.0733