How to Recycle Currency Effectively

    Mar 13 2015

    Topics: recycle currency

    When you recycle currency, you get endless benefits. You can use a currency recycler in a bank branch, supermarket, or virtually any business setting that handles money. It streamlines your cash handling procedures by centralizing your cash management to one single source. It dispenses, accepts, counts, sorts, and stores your money quickly, easily, and safely. It’s equipped with a variety of features you can take advantage of to optimize your cash management. When you take advantage of all the options your recycler provides, you recycle currency effectively. Here’s how.

    Cash Handling Automation

    When you recycle currency, you significantly reduce your employees’ need to touch your cash. This allows you to ensure that no miscounts occur and that no funds go missing. Additionally no one needs to prepare floats or reconcile them at the end of the day. The entire process is automated, so all the money is counted, sorted, and reported through your currency recycler. Solutions can be integrated into your current POS system. This leads to high accuracy rates, so you never have to deal with discrepancies and losses from cash handling mistakes again.

    Heightened Productivity

    When your employees aren’t spending valuable time counting and sorting cash, or going back and forth from your vault to grab more cash for their floats, they have more time to spend with your customers. Your customers are your business’s lifeblood, so it’s vital that they are happy and satisfied with their experience at your store. Your employees’ productivity will soar, which will inevitably turn into better customer service. Employee satisfaction will increase as you remove the stress of counting and handling money. They’ll be able to focus on meeting your customers’ needs, rather than focusing on counting money.

    Improved Security

    Your currency recycler can also act as a vault. Your money is always secure in a closed cash management system. The only people who have access to what’s inside the recycler are those you’ve allowed. You can even set it so only armoured carriers can access your bank deposits. You’ll need less cash on site at any given time thus increasing your cash flow. And not having cash out in the open to be seen by potential robbers is also highly beneficial to the security of your store. Reducing opportunities for theft protects you, your customers, your employees, and your money.

    Self-Directed Transactions

    Currency recyclers can even be used by your customers through self-directed transactions. You simply have to face the machine towards the customers who feeds in their money and gets change dispensed back to them quickly and easily.

    Cost Savings

    Labour costs can add up significantly at the end of the pay period. When your employees are spending time at the end of their shifts counting and reconciling their floats, you’re paying them for their time. But when you recycle currency the machines do all the work in a fraction of the time it would take your employees, which means you don’t have to pay anyone to count or sort cash anymore. Additionally, the recycler’s accuracy will save you from costly losses due to accounting errors.

    Efficiency at All Angles

    Every company is looking for frontline and back-end efficiency and productivity. It’s critical in today’s business world in order to increase customer service, reduce costs, and heighten productivity.

    When you recycle currency with a cash recycler, you can have all of these benefits and more. Your security will also increase and the instances of cash handling errors at your store will be virtually eliminated. Cash optimization through a centralized system can do wonders for your company. Investing in a currency recycler has a great ROI.

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    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

    905.696.0733