3 Industries That Benefit from the Use of a Banknote Sorter

    Nov 09 2016

    Topics: cash management

    In industries that handle large volumes of cash, manual cash handling is an around-the-clock operation. For these cash-heavy industries, there is no time to waste on inefficient or inaccurate cash handling. Cash management can be an unreliable process, particularly when there are frequent errors and inaccuracies. Fortunately, there are solutions available that can drastically improve cash management in industries that handle large volumes of cash.

    Banknote sorters are designed to provide continuous cash counting, sorting, and processing for industries that need to maintain efficient and secure cash management. They work by sorting currency according to the requirements of your business and can sort bills according to denomination, fitness, and orientation. They are able to work on poor quality and fresh bills, and can handle the new Canadian polymer currency. Some of the benefits of using a bank note sorter are as follows:

    • Reduces the time it takes to process cash
    • Minimizes labour costs associated with cash management
    • Able to verify and authenticate currency

    When investing in a banknote sorter, there are certain things that you will want to take into consideration so that you make the best purchase for your business. For starters, you will want to ensure that any technology that you purchase is compatible with the types of currency that you accept so you are not left with a machine that is not able to handle that type of currency. Additionally, banknote sorters work at different speeds so it is important to pick one that will be able to keep up with the demands of your business.

    With these things in mind, here are three industries that benefit from the use of a banknote sorter and how implementing technology can improve the daily operations of your business.

    1. Casinos

    Between beverage sales, food sales, and accommodations, casinos frequently have dozens of cash registers operating at the same time. This means that large amounts of cash are being handled by many staff members all at once. It is a huge task to process all of the cash from every transaction while also maintaining proper cash flow in each float. Investing in a bank note sorter can greatly improve the efficiency of processing the cash from many different floats so that each staff member does not have to manually complete their own cash management procedure. Sorters can save valuable time in a busy casino environment.

    2. Banking

    Banking is another industry that can benefit from investing in a banknote sorter. While banks do not handle cash from as many different registers as a casino, they handle large amounts of cash and process big transactions for their customers. Banks rely on complete accuracy to ensure the security of their customers’ money. A sorter offers just that; it introduces an additional level of security into banking processes to protect the assets of customers and the bank. They process currency efficiently and allow for bank staff to provide excellent customer service.

    3. Cash-In-Transit Services

    Cash-in-transit (CIT) services are responsible for the safe and secure transport of currency from one place to another. Banks, ATM machines, retailers, and other locations that contain large amounts of currency may make use of CIT services. With a variety of clientele, it is of the utmost importance that efficiency and accuracy are the focus of all CIT companies. A banknote sorter allows CIT companies to ensure that they are transporting the correct amounts of money from location to location. Banknote sorters add an additional level of efficiency and security into the operations of cash-in-transit services.

    How to Improve Your Business With An Automated Cash

    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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