How Cash Recycling Will Change Your Business

    Aug 26 2015

    Topics: Cash Recyclers

    Virtually every company’s ultimate goal is to increase its profits. There are many ways to do this, but one of the easiest is to streamline operations and reduce costs. Cash recycling can help you do both.

    It’s a revolutionary new way for organizations, big and small, in any industry, to manage their cash. This is how it works: the money that customers give you goes into the machine, the cash recycler accepts it, sorts it, checks it for counterfeit, updates your balance, and stores it. Then that same money goes right back out again during your next transaction or it can be dispensed as a float. It enables organizations to quickly, accurately, and safely process transactions in a cost-effective and efficient way.

    Here’s how cash recycling can change your business for the better.

    Reduce Wasted Time

    You want your cash management processes to be as fast and efficient as possible in order to reduce wasted time. This will boost productivity and decrease your labour costs. With cash recycling, you gain valuable time. The time it takes to automatically process transactions is significantly lower than doing so manually. The average of 30 to 35 seconds per transaction is reduced to a mere eight seconds.

    Your lines will move quicker when your tellers aren’t fumbling around with coins and bills, trying to sort them and count them or running to the back to retrieve or deposit cash when they have too little or too much on hand.

    Additionally, your currency recycler will always be updated with every transaction, so your staff won’t need to spend as much time counting their floats at the end of the night. You can send them home earlier and save on labour.

    Increased Customer Service

    Good customer service is vital to the success of your business. You can improve your service with cash recycling. While the machine does the work, your employees will have more time to focus on your customers in order to better meet their needs. They won’t be distracted by counting and sorting money. They’ll have time to smile, make small talk, and make eye contact instead of having their nose in the till drawer. Their attention will be on the people who matter most to your business, and you’ll see an increase in customer satisfaction and loyalty because of it. Plus, your customers will be pleased with the speed in which they can make a payment and walk out of the store. 

    Enhanced Security

    Keeping your money safe should be a priority. Your currency recycler can act as a vault to keep your cash secure. This will reduce your risk of robbery—no more open registers with money in plain view, tempting criminals of opportunity. Silent alarm triggers and lock-down hot-keys further your security. And, you can restrict access to a select few employees to reduce your risk of internal theft as well. The cash recycler’s built-in counterfeit detector technology will also alert you to suspicious bills right away, so you can reject them before you are forced to accept the loss.

    Heightened Accuracy

    Human error can account for significant losses in your business. You don’t have to accept it as a part of doing business. With cash recycling you can have the counting, sorting, and reporting accuracy that you strive for. No more miscounts, double counting, or reports that don’t add up. Automating your cash handling process will keep more money in your pocket and save you from having to spend hours trying to find out where errors occurred. Every dollar will be accounted for.

    Optimized Cash Flow

    What if you could have more money on hand to pay expenses, invest, and expand your business? With cash recycling you can. A recycler can reduce your vault holdings by ten percent so you have more liquidity. The less money you need flowing through your store for transactions means you’ll have more cash in your account for other aspects of your company so you can spend more freely.

    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