Financial Benefits of Performing Preventative Maintenance on Your Bank Equipment

    Feb 18 2014

    Any business that needs to manage a lot of cash on a daily basis can potentially benefit from technological advances that make cash management faster, more efficient, and less prone to error. Note counters, coin counters, and other cash management machines make dealing with cash and back office accounting much quicker. Unfortunately, like all machines, these cash management devices can have occasional trouble. When a machine goes down, it starts costing the business money and time rather than saving it, and the more trouble a machine makes, the less it makes business sense to make use of it.

    Fortunately cash machines are not generally such sources of trouble, but any time a technician is needed to repair or replace a machine, it still costs money and time. If cash counters, coin counters, or other cash management machines are sensible additions to a business environment, then planning for maintenance and repair of those machines is also a good idea. 

    The Benefit of Service Contracts

    In order to make sure your cash management equipment has the maximum possible uptime and works correctly, a service contract with a reputable service provider is a smart investment. It's certainly possible to call a service and find a technician when something breaks, but that means taking extra time to find help exactly when the business is probably extra busy, because of staff having to take up the slack for a broken machine. Trying to find a service company in the midst of what is often a stressful situation only causes more stress and wastes more time. Not to mention if you haven't used a service before, you don't have any background on the quality of their work, and you may not have the time to check references or get recommendations from professional colleagues. Hopefully you will find a reputable dealer or technician to help with your problem, but there's no guarantee.

    Developing a relationship with a maintenance service provider is a much smarter choice. It means you automatically know who to call as soon as there is a problem. Many service contracts provide multiple levels of support, including phone assistance for more general questions as well as having technicians available when needed.

    Protecting Your Investment

    In addition to providing support when a machine breaks, many service contracts provide regular preventative maintenance. Many types of machines benefit from regular checking, cleaning, or replacement of parts, and cash management machines are no exception. Having a qualified technician look over a machine regularly can also help to avoid problems before they start, as they can spot worn out parts or fix other issues before the machine breaks. Finally, many machines have a longer lifespan with regular maintenance to make sure they keep running smoothly. A service contract can extend the life of your cash management machines, meaning you get greater value out of your initial investment.

    If a cash management solution is a good choice for your business, then a service contract is a good choice to back up your investment and keep your machines, and your business accounting, running smoothly.

    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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