Cash Management vs Armoured Car Provider: How to Decide between the Two

Jan 12 2018

Topics: cash management

The cost of cash handling is higher than you think. Businesses have plenty of solutions to choose from to better manage their cash, however. 

Download our free guide for CFOs to find out how cash handling is affecting  your bottom line.

When you’re choosing between a cash management solution, such as a smart safe, or an armoured car provider, be sure to pick the option that best meets your needs.

Determine Your Business’ Needs

What kind of business are you operating? Is it a retail store? A financial institution? A casino? Next, consider how much cash your business processes each day or each week. How many deposits do you need to make to ensure excess cash is stored safely? Each business is different and each one handles different amounts of cash. 

These factors will impact the best solution for your business. 

You want to handle your cash as efficiently as possible—not only to get the most bang for your buck but to ensure you have the right solution for your business. Businesses should implement steps for good cash management, including defining the business’ cash needs, weak spots, and areas for improvement. These helpful indicators can determine the best management solution.

Understand the Difference

Of course, no two solutions are the same, which is why it’s important to understand the difference between them before making a decision. 

Money management solutions include tools like smart safes, which have a number of different features that protect your money while providing security, reporting, accountability, and accuracy. Partnering with a cash management solutions provider equips you with the guidance and advice you need to make better decisions regarding your company’s cash management 

Receiving the right solutions, brands, and best practices from experts is a worthwhile investment that will help you achieve your business goals. Cash management providers offer solutions that match your unique circumstances. You can experience cost savings with automated processing, reduce the number of armoured car fees, improve security, and overall refine your company’s money management practices. 

Armoured cars specialize in secure transportation and the handling of valuable goods—such as your cash. They collect and deliver cash from stores, banks, and a variety of institutions to designated places. Using special systems with optimized routes, armoured car providers move your cash to your specified destination. 

These car providers are equipped to remove extra cash from your business and handle the task of transporting it, so you can rest assured excess money is stored safely. They arrange pick-up and delivery while deterring criminal activity and reducing cash on hand. Protecting your cash is their first priority. They’ll take your cash where you need it to go.

Think Long-Term

A business can’t succeed if it remains stagnant. Growth is crucial to success. As companies are constantly growing, their evolving needs may require new cash management solutions, from cash counters to smart safes and cash recycles.

Should you invest in cash management solutions to grow your business or work with an armoured car service? It depends on what you’re looking for.

Cash management providers offer customizable solutions and trusted advice. Armoured car providers offer secure transportation. Consider which one can better adapt to the changing needs of your company.

Don’t put all your eggs in one basket, however. Armoured car providers are often ideal short-term solutions, but using these services can lead you to face certain challenges, like a strike of its workers. Cash management solutions, on the other hand, provide the freedom of choice and are more flexible to your needs.

How to Improve Your Business With An Automated Cash

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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