4 Benefits of CashTechIQ Software & Cash Insights

    Sep 09 2020

    Topics: CashTechIQ

    Businesses across Canada and the US are looking for ways to streamline their operations and gain a competitive edge. The environment right now is challenging, but the right technological support systems could make all the difference.

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    That’s one reason you should examine how you handle cash in your business. Cash often costs more than business owners realize. Working to streamline cash management can reduce costs, lower overhead, and free up your team’s time.

    To that end, investing in software like CashTechIQ makes sense. Here are some of the benefits your business can realize with cash insights from CashTechIQ.

    1. Manage Remote Deposits and Cash Orders

    One way CashTechIQ software helps you streamline cash management and lower overheads is by providing better management of remote deposits and cash orders.

    Trying to keep your business float at the optimal level can be challenging. You may make deposits, only to realize you needed to keep more cash on hand. Maybe you just don’t have time to get to the bank before closing, which means your cash sits and accumulates in your safe and tills. High cash balances on hand can increase risk for the business, as well as limit online access to your funds.

    With CashTechIQ software, the program manages cash deposit data, can complete remote deposits, and can schedule cash orders so you don’t have to worry about reaching the bank before it closes. The software can leverage the advance credit programs offered in the US, to make those remote deposits on a schedule that works for your business, ensuring you’re never left shortchanged or with the cash drawer overflowing. You could reduce the number of trips you have to make, while ensuring you always have access to the funds you need.

    For US business owners, advance credit can help reduce the costs of CIT pickups and banking fees.

    2. Measure Store Performance with CashTechIQ Software

    CashTechIQ software comes with some powerful data collection options for your business. With it, you’ll gain real-time visibility of your cash holdings. This clearer view can help you make better decisions for the business. With better reporting and analytics, you may identify patterns and trends in the business. In turn, you can reduce staff labor, optimize staffing, and make better decisions about deposits, vault holdings, the frequency of CIT pickups, and more.

    The software also allows you to monitor the performance of individual stores, so if you have multiple locations, you can keep tabs on how each is doing. From there, you could make comparisons and help struggling stores improve their cash management operations.

    3. Reduce Risks to the Business

    The right software can help you reduce risks in cash management. The reporting and analytics capabilities of CashTechIQ could assist you in combating shrinkage.

    It can also reduce risks to employees by providing real-time fraud alerts on your cash deposits and discrepancies. If there’s an error, employees may begin investigating it immediately. This could also improve accountability among team members. This can encourage people to follow procedures to the letter, as well as provide you with the ability to hold employees accountable for their actions.

    4. It’s Cost-Effective

    Getting cash insights with smarter technology and software is always a cost-effective step for businesses. The cost-savings you’ll realize through accurate and timely data will add up over the long term. In essence, a software solution will more than pay for itself in almost no time at all.

    A software solution like CashTechIQ has other advantages too. For many business owners, it will work with the cash automation technology you’ve already invested in. You don’t need to worry about overhauling the system and driving up costs.

    If you haven’t invested in cash automation yet or you’re seeking an upgrade, look for a solution that can integrate to or includes CashTechIQ software. It can be bundled with flexible hardware lease and purchase options, making the system more affordable for your business.

    If you’re ready to get a clearer picture of your cash handling, it’s time to invest in CashTechIQ software. Get in touch with the experts and learn how to make it part of your business operations today.

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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