5 Reasons Why Your Business Needs a Currency Counter (Updated 2019)

    Jan 12 2015

    Topics: Currency Counter

    Naturally, businesses are trying to stay afloat and grow in their respective industries. They are trying to cut costs wherever they can in order to save money. They’re also trying to make their operational processes more efficient in order to save time.

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    Administrative tasks in particular are especially time consuming, and accounting tasks are often the culprit for lost money at your business. Investing in cash solutions, and in particular, currency counters, can make your accounting process quicker and simpler for better results.

    Here are five reasons why your business can benefit from investing in a currency counter.

    1. There Is a Currency Counter Out There for Every Business

    Every business has different cash management needs. Thankfully, there are enough products on the market to provide you with exactly what you are looking for—and currency counters are no exception. Currency counting is not just for the big boys. Small businesses can benefit from automated currency counting just as much as large companies, and they can find affordable machines to match their budgets.

    Portable counters are less expensive and still provide you with great results. Large businesses that deal with high volumes of currency can benefit from high-speed and high-efficiency currency counters. Optional features can also strap your currency, making it Bank of Canada ready so storing and depositing your cash can be as simple as possible.

    2. Your Counts Will Be Accurate

    You know that innocent cash handling mistakes happen, so why not eliminate the problem altogether? By taking humans out of the cash counting process and letting the currency counters make your end-of-shift counts for you, you’ll be confident that your totals are accurate. In fact, with note recognition and digital technology, these machines have a 99.995% accuracy rate—you can’t go wrong.

    3. Your Business’s Productivity Will Rise

    High-efficiency counters can count thousands of bills per minute, which no employee of yours can claim. Instead of having your staff members spend hours every night counting cash, leave the grunt work to the machine so your employees can spend more time on customer service and other more valuable tasks. This results in increased productivity

    It’s simple: set an amount of currency you want to count, drop in the money, and let the machine do its work while you work on other responsibilities. Once your target amount has been reached, the machine will alert you to move out the cash and add more in so it can resume its counting.

    4. You Will Save Money

    When people handle cash, it’s inevitable that errors will occur. They will count the same bill twice or transpose the numbers they are writing down. Although you are not surprised when these mistakes happen, they can cost you hard-earned money. By eliminating people from the equation, you will reduce the count discrepancies that lead to losses. Accounting losses are avoidable, so you should do everything you can to stop them from occurring at your business.

    5. You Will Protect Your Business from Losses

    Some bill counters are equipped with counterfeit detecting technology. When you place your bills in the machine, it will alert you to suspicious notes. What’s more, automating your currency counting can deter employees with sticky fingers from intentionally counting the cash incorrectly in order to help themselves to some of the money.

    When you invest in currency counters, you will be sure to benefit, regardless of the size of your company or which industry you belong to. There’s a bill counter out there for everyone, you just have to take the plunge.

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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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