Most businesses have a safe in their back room where they keep the cash they need to operate during the day. The safe also holds the cash that a business makes during the day and that employees have to deposit at night.
While most businesses have a safe, not many of them have smart safes, which can keep assets more secure.
Cuts Down on Employee Theft
Whether you realize it or not, employee theft is a huge problem for businesses and it’s something that each business needs to find a solution for. One such solution to cut down on employee theft is to invest in a smart safe.
A smart safe requires employees to use unique login usernames and passwords to access the safe. This allows you to know who is opening the safe and when. Therefore, if there are any discrepancies, you know who to turn to. There are fewer opportunities for employees to steal and more chances of them getting caught, so employee theft will decrease.
Always Know What’s in Your Safe
A smart safe is able to count all of the money in your safe. If money is removed or added to the safe, it simply recounts and gives you the new total within moments. With an online portal, you can know how much is in your safe at any given time. You can also get alerted when your safe is opened. You’ve never been able to be in control of your money like you can be now.
Reporting
The smart safe also sends you reports about your cash flow. You can see when you have rushes and lulls in your business by the activity in the safe. You can also see when you run low on cash and when you’re flush with it. You can learn if you need to make sure you have a specific denomination on hand more than other ones as well.
All of this information helps you gain insight into your cash flow. With this information, you can make changes to your back room procedures to improve efficiency.
Researching Smart Safes
Before you invest in a smart safe, learn more about them. There are many different makes and models. There are also different features depending on the make and model. Learn about the different features and the different price points of smart safes. Then, make a list of everything you need from a smart safe. It should be fairly easy to find a safe that’s within your price range and has the desired features you’re looking for to help your business manage its cash flow and keep its assets more secure.
There is nothing more important to a business than its cash, assets, and cash flow. When you don’t know how much money is sitting in your safe or who has access to your safe, you’re at risk. If your business manually counts its cash, you’re at greater risk of shrinkage.
Investing in a smart safe allows you to know exactly what’s happening with your cash in real time. You have better control over your cash and gain a better understanding of your business’s cash flow. With that information, you’re able to make better business decisions, as well as increase your business’s efficiencies and bottom line.
