Increasing employee productivity is one of the top concerns for any manager or business owner. It’s a concern in almost any industry. It’s particularly important for those involved in retail.
You might also be concerned about your cash handling and management. Is there a way to better your cash management while also boosting employee productivity? Yes! These retail cash solutions will help you do both.
1. Cash Recyclers
This is perhaps the most comprehensive of the retail cash solutions available for your business. A cash recycler is a kind of all-in-one solution. Depending on the model, it not only counts and sorts currency but it can also detect counterfeits and act as a safe storage vault.
Its primary use is dispensing cash, reducing the need for trips to the vault or even for cash handling by your cashiers. How does it improve employee productivity? Quite simply, it takes a number of tasks off their hands. Your employees no longer need to count cash once or twice. The machine does it for them. It reduces the need for vault transactions and trips to the vault. It can even speed up your counterfeit detection.
Once you’ve installed a cash recycler, your employees will have more time on their hands. They’ll be able to focus on talking to the customer and cross-selling products and services.
2. Currency Counters
Maybe you’re not ready for the cash recycling system yet. Maybe you’re looking at something a little easier to implement. A currency counter could be the solution you’re looking for.
Currency counters have many of the same features of cash recyclers, with one key difference. They don’t dispense cash. Instead, they count the cash. Some models can detect counterfeits and act as safe storage.
Like other retail cash solutions, currency counters reduce the number of tasks your employees need to perform. If you get a counter with a big enough hopper and sorting capabilities, your employees will no longer need to spend time sorting and counting cash. Instead, they can leave the machine to its work and get on with their other duties!
3. Counterfeit Detectors
Counterfeit detection is an important aspect of retail cash handling. You want to be able to detect fake bank notes quickly and easily. While you can get counterfeit detection with some machines, such as cash recyclers and currency counters, better counterfeit detection in and of itself will improve your employee productivity.
How? Instead of checking notes by hand, your employees can automate the task of detecting fakes. They can get back to their other duties sooner, and you can discover fraudulent cash sooner, rather than later.
4. Better Processes and Procedures
Maybe you’re not ready to invest in machinery and automation. Cash recyclers sound like a great solution, but you can’t justify the expense of installing them in your business just yet. How can you get better employee productivity? Which retail cash solutions can you implement?
Start with your own processes and procedures around cash handling. Check out what you’re asking your employees to do. Are there redundant processes? Do you ask them to take steps twice over?
While you may not be ready to automate some tasks, you can most certainly make the process more rational. By eliminating extra and redundant steps in your cash handling processes and procedures, you can improve both your cash handling and your employees’ productivity.
The Best Solutions
Every business is unique. Different retail cash solutions will fit different businesses. Do your research and discover what solution is right for your business. Reviewing your processes and procedures is a simple step forward for most business owners.
If you’re looking for additional productivity, think about how technology can help your employees do an even better job than they’re already doing.
