Back office efficiency is necessary in order to have a successful business. If your back office is a mess, then it’s easy to lose money both literally and through increased labour costs. Try these tried and true ways to improve your back office efficiency.
1. Clean up and Get Organized
Your back office should be neat and tidy. There shouldn’t be a lot of clutter in it. It should only have what’s necessary for counting money for the deposit at the end of the night. When there’s no clutter, it’s easier to keep everything organized. It’s also harder for things (such as money) to get lost.
A clean and organized back office also inspires employees to get in and get the counting done because there isn’t anything to get distracted by.
2. Automate Your Process
Employees make mistakes because they’re human. But those mistakes can end up costing you money in numerous ways. Mistakes in counting can lead to missing money, which isn’t good for your business. Counting mistakes can also lead to costly wasted time.
When employees have to count money manually, they’re more likely to make mistakes and have to recount. They may also count slowly because they’re afraid of making a mistake. The longer employees take to count money, the more time it costs you.
This is why it’s important you automate your cash handling processes. Having employees do less manual counting saves them time so they can get back out on the floor and provide customer service. It also cuts down on employee theft.
Automate your processes to help create greater efficiency in your back office.
3. Invest in Cash Solutions
There are many different cash solutions to help you automate your cash management processes and increase back office efficiency, but the main ones you should look into are:
Currency counters are machines that count cash for you. Instead of employees counting cash manually, they can put the cash in the currency counter and it’ll calculate the amount of money. This will save your employees time at the end of the night and make putting together the deposit so much easier.
Smart Safes are essentially safes that are smart. A smart safe can count the money that’s in it and record when money is taken out or put in it. Anyone who opens a smart safe needs to have their own log in and password, which boosts accountability. The safe is also connected to the internet and can run reports for you, informing you about your cash flow. Having one of these machines can increase your back office efficiency.
Cheque Scanners are great to have if your business receives many cheques. The scanner takes a digital image of the front and back of the cheque, and saves it to a computer program. It then deposits the money directly into your bank account, saving you the time of going to the bank.
Improving back office efficiency is imperative if you want to save money and time.
