\Manually counting cash can be a cumbersome process; it is unreliable and can be frustrating when totals simply won’t balance. When dealing with large amounts of cash, having to re-count all of it two or three times can add a significant length of time to the overall cash management process. Investing in automated cash management provides your business with accurate and efficient solutions to the challenges associated with manual cash handling. Cash counting machines efficiently and accurately count and total stacks of currency, reducing the time and labour associated with counting, and they process both small and large volumes of cash. Cash counting machines bring an additional level of security into your business.
For Canadian retailers, when choosing a Canadian cash counting machine, there are certain specifications that you will want to be aware of to make an informed decision. You will want to ensure that the investment that you make in a cash counter will support the needs of your business. Here are three things to look for in a Canadian cash counting machine so that you can make the best investment for your company.
1. Does It Accept Polymer Bills?
The evolution of Canadian currency has introduced new challenges into the cash management processes of retail establishments. The release of the new polymer bills means that Canadian retailers must accept both new and old types of currency while the old cash is brought out of circulation. When looking for the correct cash counting machine for your company, you will want to be sure that it is compatible with all types of currency that you accept. Cash counting machines have different specifications of bills they accept according to what materials the cash is made of or the weight of the bills; make sure you select one according to your specific needs.For Canadian retailers, it is important that any automated cash management technology that you invest in accepts all types of currency that your business accepts.
2. Need for Speed
Cash counting technology is built to operate at different speeds depending upon individual cash counting needs. Each machine has a different rate of counting speed measured in notes per minute. For smaller businesses who do not deal with large amounts of cash, a counter with a smaller range of notes per minute should do the trick. For larger businesses or businesses that primarily deal with cash, it is beneficial to invest in a Canadian cash counting machine that will efficiently and accurately count larger volumes of currency. Before making the investment in a cash counting machine, realistically consider how much cash your business handles and how efficiently you will need it to be processed. Doing your research before making an investment will allow you to make the best decision to respond to the specific needs of your business.
3. Counterfeit Detection
Protecting your business from counterfeit fraud is extremely important. With increasingly sophisticated counterfeit bills infiltrating cash circulation, manually checking for counterfeit currency is simply no longer effective. Investing in a Canadian cash counting machine that has a built-in counterfeit detector can protect your business from being vulnerable to counterfeit fraud. The most comprehensive counterfeit detection technology uses a three-pronged approach to accurately identifying counterfeit currency: ultraviolet, infra-red, and metal thread detection. Combining these three methods of detection ensures that any counterfeit currency, regardless of how sophisticated it is, will be accurately identified. Investing in a cash counting machine with built-in counterfeit detection allows you to get the most out of your investment in automated cash management technology.
