Today's retail outlook is better than ever here in Canada. With a resurgence of consumers shopping locally and using the Internet as more of a research tool and less of a digital alternative to brick-and-mortar stores, retailers across the country are soaking up the benefits of this upswing. However, simply enjoying this influx of business and not understanding the importance of protecting this inflow of cash to your shop isn't a good strategy long-term. To help secure your business interests now and in the future, take a moment to review the characteristics that define a smart cash storage routine and compare it to your cash management process. This way you'll have everything you need to make the switch if your current setup ends up on the short end of the comparison.
A Rigid Routine
At the heart of any smart cash storage routine is an established process. While it might not be the most exciting addition to your workplace, having a strict set of rules covering everything that relates to handling currency – from opening registers to counting and sorting at the end of the day – ensures that guesswork and uncertainty never enter the cash storage equation. If you don't already have these parameters in place, sit down with your employees and go over the daily process of storing and collecting cash from customers. With this information in hand, you can start to sketch the outline for a routine that fits your daily workflow.
Smart Safe Technology
Of course, no routine is complete if you only focus on what goes on at the register. Whether you're closing out the till or closing shop for the day, having a smart safe provides several layers of added security and convenience for excess cash or currency that needs to be stored overnight. With this tool on your side, remotely depositing cash for automatic sorting and storing becomes a key part of your daily routine. For businesses that deal with an avalanche of customers throughout the day, adding automation and ease of use, as well as additional security, into any point of the process is always a great way to get a little more out of the cash storage routine.
Proper Controls During Opening and Closing Periods
Another key part of proper cash management is protecting your business at its most vulnerable points – opening and closing periods. With burglars targeting businesses at the beginning and end of the day with alarming frequency, understanding the importance of these parts of your routine is essential to protecting the currency you have on-hand. To do this, make sure you provide extra training for your employees on how to safely transport cash to and from your safe, as well as what to do in the event of a suspicious or threatening presence in the store at these times.
Transparency is Key
Above all else, the primary way to promote the smart storage of cash in your workplace is to put a premium on transparency. This means having your employees keep accurate and efficient records regarding the handling of currency, as well as easy access to these documents. If you really want to go above and beyond, surveillance equipment in the front and back rooms alike is a great way to have concrete evidence if a problem ever rears its ugly head during the workday.
