Coin sorters are perfect for medium-sized or large businesses that handle a lot of cash by hand. If you’re counting, sorting, and packaging your coins by hand, you’re wasting a lot of time. And when time equals money, you’ll quickly realize that you’re also missing a lot of your hard-earned money. With the innovative technology and cash management solutions on the market today, there’s just no need to be wasting your money on these administrative tasks. When you’re paying so much in labour costs when your employees must stay after their shifts to manually count, sort, and package coins, you’re not allowing your back room operations to be as efficient as possible.
Here are five reasons why coin sorters can save you a ton in labour costs.
Coin Sorting
Before your employees can even start to count all of the coins that were received throughout the day, they have to sort through them. When you’re dealing with hundreds or even thousands of coins on a daily basis, this can be incredibly time consuming and tedious. Making separate piles of nickels, dimes, quarters, loonies, and toonies isn’t fun, especially since coins are dirty, they sometimes stick together, and there might even be currency from other countries to separate as well. Coin sorters eliminate the need to do this manually, so your employees don’t have to deal with the unnecessary task. Plus, the coin authentication option rejects counterfeit and intrusive coins effortlessly.
Coin Counting
Once sorting is over, your employees then have to count all of the coins. As you and your employees are probably well aware of, counting coins by hand can take a lot of time. Even if your employees are only counting their floats, it can add ten minutes to a half hour to their shifts—and you’re paying them for that time spent counting. It adds up. Plus, you’re probably paying a manager to double check the counts, so you’re paying two people in labour costs for the same job. Doesn’t that seem like a waste of money?
Coin Wrapping
Have you even tried to put coins into those tiny wrappers? It can be frustrating. Making sure you’re putting the right amount of coins in the wrapper and that they’re all stacked correctly can take a lot of time—which are labour costs that you’re paying for. Coin sorters, though, can automatically wrap your coins in rolling tubes or place them into drawers or bags, depending on your needs.
Increased Speed
Coin sorters are incredibly fast. They can count and sort coins faster than any of your employees, that’s for sure. Depending on the model you get—which is based on whether you need high volume or low volume configurations—you can get a sorter that processes 1,000 to even 3,000 coins per minute. With a machine so fast, there’s no way you don’t reduce labour costs.
Increased Accuracy
Coin processors are error-free machines. You can rely on accurate coin sorting and counting as well as automatic reporting every time. When your employees make mistakes, you get discrepancies. You’re then forced to pay someone for even more of their time to find and fix the errors. But since coin sorters guarantee accuracy, you’ll never have to worry about paying extra due to human error again.
Don’t let time-consuming administrative tasks like coin sorting, counting, and wrapping eat up all of your profits in labour costs. Coin sorters can do all the work automatically, at an incredibly fast speed and with guaranteed accuracy, so you can have more of your hard-earned money in your bank account.
