3 Reasons to Automate Counting Money

    Jul 03 2015

    Topics: Currency Counter, Money Counters

    Technology has revolutionized the way companies do business today. This is especially true when it comes to the back office. Up until recently, administrative tasks like counting money used to be time consuming, laborious, and tedious. But cash had to be counted, and it had to be done manually. But now, thanks to currency counters and recycling solutions, manually counting money is outdated. You can streamline the task and make it a breeze. Bill and coin counters and recyclers can be tremendously useful for companies that accept hard currency as a form of payment from customers. Regardless of the size of your company or the volume of coins and bank notes that you receive on a daily basis, you can find a currency counter or recycler that meets your needs.

    Here are three very good reasons why you should automate the task of counting money at your business.

    Increased Accuracy with Error-Free Counting

    There’s no doubt that, as a business owner, you understand the hassle of manually counting money. Cash handling mistakes can happen at any point in the counting process. Bills can be stuck together and are skipped, coins can be mistaken as a different denomination, employees can be tired or distracted and count incorrectly, totals can be recorded down wrong—the list of counting errors goes on and on. And when you have counting discrepancies, you can end up missing money. Or, you could catch the error but then have to spend even more time trying to fix it—which means recounting everything.

    Naturally, increased accuracy would be ideal. And it’s possible when you automate counting money. Currency counters boast a 99.9 percent error-free rate, so you know that every nickel and every bill you put into the machine will be counted out correctly. Once the machine finishes counting, you’ll be provided with an always-accurate total, repeatedly, thanks to note and coin recognition technology.

    Time Savings Equate Higher Productivity

    Increasing productivity is vital to your company’s bottom line. The more streamlined and efficient your business operations can be, the less money you have to spend on manpower, which means you have more money in your pocket. Counting money manually can take hours at the end of the night but with a high-efficiency counter, you can count thousands of bills or coins per minute. You can either send your employees home earlier to save on labour or have them use the time they’d usually spend counting money on more important business tasks, like customer service. 

    Protect Your Money

    Your money is the lifeblood of your business, so it makes sense that you’d want to protect it. When you automate the counting process, you can deter internal theft. The less time your employees are left alone with your money, counting it in the back room, the fewer opportunities they’ll have to steal from you. When the machines do the work, your employees can have their hands off your cash. Plus, these machines are equipped with fraud detection. They can detect counterfeit money thanks to state-of-the-art recognition technology.

    Take the Plunge

    If you’re tired of dealing with counting discrepancies, frustrated with wasting precious time in the back office that could be better spent elsewhere, or worried that you’ll be defrauded by counterfeiters or dishonest employees, then it’s time to take the plunge and invest in currency counters or recyclers. When you automate your cash counting process at your business, you can rely on accurate totals, you can increase your productivity, and you can protect your money from fraud and theft. Let technology streamline your company’s counting process. You won’t regret it.

    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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