3 Reasons a Quick Serve Restaurant Needs a Cash Management Solution

    May 29 2015

    Topics: Cash Management Solutions, Quick Serve Restaurant

    The fast food industry is known for dealing with a lot of cash. When your menu items are typically all under five dollars, many customers would prefer to pay with small change and bills. It’s important for restaurants in this industry to have a cash management solution in place. Without it, the employees of your quick serve restaurant won’t be able to efficiently handle all of the money coming through your doors on a daily basis, which puts you at risk of missing profits.

    Here are three reasons why your quick serve restaurant needs a cash management solution.

    Increase Productivity

    The more productive your employees are the better customer service you can provide. Your customers want their food quickly. The lines must move quickly and the transactions must be handled with ease or you risk frustrating hungry diners. When the employees at the front are slow while processing transactions, because they’re manually counting cash, doing the math in their heads to figure out how much change to give back, and then transporting cash back and forth from the back, they’re neglecting customers and slowing down service.

    When you integrate a cash management solution into the equation, you can increase productivity, and thus, speed up service. A currency recycler, for example, can act as your cash register, dispense, and accept hard currency quickly and efficiently so your cashiers always have enough of every denomination to process transactions without having to run to the back to get another roll of quarters or stack of fives. . Your employees will not only be able to attend to your customers’ needs more quickly, but they’ll have more time to clean up, restock, and perform other necessary tasks when needed.

    Increase Counting Accuracy

    Your workers are human, and mistakes can and will occur if they’re left to count and sort your cash manually. They’ll give customers back the wrong change, they’ll transpose numbers when reporting their floats, and they’ll skip bills, count the same bills twice, and count ten-dollar bills as fives. All of this means you’ll be dealing with discrepancies. You’ll lose out on some of your hard-earned profits. This type of inaccurate counting is avoidable with a cash management solution. When you let a cash management solution handle the complete process you eliminate the risk of human error and increase accuracy.

    Reduce the Risk of Theft and Robbery

    As the owner of a quick serve restaurant, you’re at an increased risk of internal theft and robbery. Fast food restaurants are known to be targets for opportunistic thieves that are aware of the large amount of cash that’s always on hand. There’s also a lot of shrinkage in fast food. Knowing these facts, wouldn’t you want to protect your quick serve restaurant? When you use a cash management solution, your employees need never touch the cash.  Payment is made through the solution at the counter and change is dispensed thus eliminating the opportunity for internal theft.  If your employees are never alone with your money, they’ll be less likely to be tempted to steal from you.

    Additionally all solutions have built in counterfeit detectors which protect your quick serve restaurant from fraud—you can reject counterfeit bills right at the cash before accepting them so you don’t have to deal with the loss when it’s too late. Your currency recycler can also act as vault, with a silent alarm and restricted access, so you can eliminate the risk of robbery and keep your employees and your money safe.

    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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