5 Reasons Why a Fast Food Restaurant Needs a Cash Management Solution (Updated 2019)

    Apr 13 2015

    Topics: Cash Management Solutions, Fast Food Restaurant

    Any business that deals in cash should have a sound cash management solution in place. This is especially true for any fast food restaurant. Those in the fast food industry handle a lot of bills and coins on a daily basis. With prices for food and drinks being so low, many people choose to pay with cash rather than debit or credit.

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    Unfortunately, this puts fast food restaurant owners at risk of cash handling errors, accounting errors, theft, and robbery. The more cash you handle, the more likely it is that you could lose some of that hard-earned money. To keep more of your profits in your pocket, you should have a cash management solution in place. Here are just five reasons why.

    Customer Service

    As the name implies, the fast food industry goes at a fast pace. When your employees are handling money manually, they’re slowing down customer service. Every time your employees have to go to the back room to drop off or pick up more cash or take an especially long time calculating how much change to give back, they’re neglecting customers who are impatiently waiting to have their orders taken.

    A cash management solution can help. For example, investing in currency and coin recyclers that accept and dispense cash and coin means your employees always have enough money on hand to give customers change. Furthermore the latest coin and note recycling till technology serves as your cash drawer and eliminates the need for employees to ever touch cash.  This speeds up lines and reduces losses.

    Your employees could be handling many more productive tasks if they weren’t spending all their time counting their floats before their shift and counting and sorting them after their shifts. Let currency counters and sorters do this work—quickly—so your employees have more time to clean up the restaurant, restock products, or focus on your customers’ needs. Save money on labour costs by having employees come in later and leave earlier while the machines are doing the cash handling.

    Accuracy

    This fast pace also means that your employees are rushing to take as many orders as possible as quickly as possible. When they’re going so quickly, they might make human errors while counting cash and providing change. With an automated cash management system, you prevent human error from occurring because the machine does the calculating instead. Accuracy will also increase in the back room at the end of the night when floats are being counted and sorted if you use cash and coin counters and recyclers instead of relying on employees to get the numbers right.

    Internal Losses

    A fast food restaurant will be at a high risk of internal losses. With so much cash going through the tills, it's easy to misplace money. When you invest in a cash management solution, your employees spend little or no time handling your money, which prevents losses.

     

    Solutions for Every Business

    Your fast food restaurant could strengthen customer service, increase accuracy, become more productive, and reduce the risk of internal theft and robbery if you invest in a cash management solution. There are solutions on the market for every kind of business with different needs and budgets. You can find one that works for you.

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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

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