You know about the costs of cash, and you’ve been thinking about how to reduce those costs. Automating cash management is one of many solutions. You’ve been researching the benefits for your business and your employees.
One question lingers. Can adopting cash automation improve the customer experience in your business?
The answer is most definitely yes. If you decide to automate, your customers will be happier and more satisfied with the experiences they have. Here’s how.
Consider how much time your team members spend counting cash or preparing floats and deposits. All the time they’re spending on cash handling and management is time they’re not spending with your customers.
When you automate cash management for your business, you free up your employees’ time so they can focus on the customer. Instead of removing the till early to be counted, your cashiers will be able to finish more transactions.
Good cash management might mean there’s always the right change in the till, so your customers don’t need to worry about receiving their $5 change in nickels and dimes. Counting change also becomes easier with cash automation.
Your customer service can improve when cash automation lets you rework employee schedules.
Cash automation reduces the amount of time your team spends on cash-related tasks, which could mean you don’t need to schedule as many cash managers or attendants. Instead, you may be able to schedule more cashiers, who can then provide better service to your customers. Additional cashiers or customer service representatives lead to shorter lines and more attentive service.
In addition, you might be able to set up shifts differently. Instead of overlapping two cashiers’ shifts to handle float preparation and till counting, you could rearrange those schedules to provide better coverage at peak times.
Are your shelves always empty? Do they need a good dusting? Your team members may be struggling to find the time to handle these smaller tasks. If cash management is consuming a good part of each shift, some jobs can fall by the wayside.
With their time freed up, your team can focus on checking off more of the to-do list. Those shelves will be dusted and restocked, and displays will be tidy, even after a busy day.
How does that improve the customer experience? It gives your customers a better impression of your business. If your shop shelves are always full of holes or brochure displays are messy, your customers could be left with the impression that your store is disorganized and your employees don’t care.
Stocked shelves and neat displays also make it much easier for your customers to find exactly what they’re looking for, so they make a purchase, instead of leaving the store in disgust.
CIT and deposits add up. If you haven’t automated cash management already, you may not have a good view of exactly how much cash is in your store. You might set your float too high or too low. You may even run into issues with keeping too much cash on hand or not having enough change.
Cash automation adjusts this. You can reduce CIT fees and other banking costs with the right automation. With a better view of your working capital, you can make better decisions about the store float.
When your money is in the bank, and not in your cash drawers, you’ll have more to invest in your business. That could mean upgrading technology or completing store renovations, or you can hire more people or expand to offer a new service. All these improvements are aimed at keeping your customers happy.
It may not seem obvious at first, but it should be clear that cash automation plays a large role in your customers’ experience. Adopt it today and discover just how happy your customers can be.