3 Signs You Should Invest In Retail Cash Management

    Aug 05 2016

    Topics: Retail Cash Management

    If you’re spending too much time visiting the bank and counting money by hand, it might be time to invest in modern money handling solutions. There are a variety of quality retail cash management systems that are available for small and large companies. Restaurants, retail spaces, and a host of other business organizations can utilize these cash solutions to suit their different needs. Here are three major signs you should invest in one today.

    1. Counting Your Profits Is Time-Consuming

    Depending on the industry you work in, counting cash can be a very tedious job. Completing this seemingly easy task takes some businesses over half the workday! When something as basic as counting money is cutting into your daily work schedule, you know it’s time to invest in an automated machine that can do the work for you.

    Thankfully, there are a variety of commercial products on the market that help you do just that. For instance, automated money counters quickly and efficiently handle coins and cash while cheque scanners automatically deposit your cheques into your account. All of these ensure that no money goes missing due to theft or carelessness. If you’re looking for something more multi-purpose, cash recyclers can count cash while performing a host of other duties.

    2. Going to the Bank Is Too Much of a Hassle

    Interacting with bank employees can be helpful on occasion. However, is it really worthwhile to be interacting with bank employees multiple times a month? Many people love the fact that systems like cash recyclers prevent employees and business owners from having to continuously visit the bank to count and/or deposit cash. Transporting money is often dangerous and time consuming. A cash management solution secures your deposit for pickup by your armoured car provider and most often reduces the number of pickups you require.

    As well, retail cash management systems generally come with amazing complimentary customer support. This means you can always pick up the phone and talk with someone one-on-one should you encounter any problems regarding profits or technical issues.

    3. You’ve Been Fooled by Counterfeit Bills

    Any business can diligently count its cash and keep track of profits. However, losses can still creep into your retail space, especially if you don’t know how to properly recognize problems like counterfeit money. Today, it’s not enough to simply look at currency or use counterfeit detection pens. Criminals are using technology to create incredibly realistic currency. By investing in professional cash counters and counterfeit currency detectors, you can ensure that the money coming into your business is legal and safe.

    If your business happens to be prone to crime and theft, you might want to consider investing in a cash management solution that collects and secures your profits. As previously stated, recyclers can safely handle and deposit small or large amounts of cash, preventing your business from becoming a target for crime.

    It can be a bit overwhelming to find the cash solution that’s right for you, especially with the numerous options on the market. Contact us today for more information about properly outfitting your business with a quality retail cash management system. For more tips and tricks related to money handling, check out our blog.

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    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