How to Secure Your Front of House Cash Management

Apr 02 2018

Topics: cash management

Security is a major concern for casinos. In an industry that keeps a large amount of cash on site, it’s important for casino owners to be cautious when it comes to security measures. One area that should always be secured is your front of house, but your cash management systems may actually be putting your money at risk. Discover how you can protect your money from security threats—it may just save your business in the long run.

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Why Security Is Important

There have been many prevalent Canadian news stories surrounding the recent cybersecurity attacks casinos have faced. While it’s important to ensure your online information is safe and secure, it’s not just the digital information at your casino that could be at risk but your physical money too. Canadian casinos have experienced everything from armed robberies to ATM thefts. As the gaming industry is an industry that has a large amount of cash on hand, it makes casinos an obvious target for thieves.

While you might think that external thieves would be the primary cause of shrinkage at your establishment, you might be surprised to learn that internal threats may also be a significant source of loss.

It’s important to take the necessary safety precautions in order to protect your money from both internal and external threats.

Your Front of House Cash Management May Already Be at Risk

If you haven’t already taken preventative measures to secure your front of house cash management, your operations could be at risk. If the below situations sound like your front of house, it’s time to make some security changes at your establishment:

  • Out-of-date technology to detect authentic bank notes.
  • Nowhere safe and secure to store your money until the funds are internally processed and/or armored vehicles arrive.
  • Multiple people coming into contact with your money and multiple floats to count and recount.

If you’ve read these three points and thought “that sounds like my casino,” you’ll want to take action immediately to protect your money from insider and outsider theft. Thankfully, there is one option that can keep your cash safe and secure.

Automation Is the Answer

Automating your front of house processes is the best way to ensure your money is kept out of harm’s way. The first threat your front of house cash management faces is with counterfeit bills. Cash recyclers, smart safes and banknote counters have the ability to identify counterfeit bills. As such, your operations won’t face the risk of taking in counterfeit bills, saving you money.

The next threat your front of house cash management faces is safely storing cash until it can be collected for deposits. High-quality cash recyclers will feature a safe that is securely locked and accessible only by authorized users.

Finally, the more people your cash comes in contact with, the higher probability it could go missing. Automated bank note and coin recycling solutions can prepare floats so your staff and managers can spend less time counting and recounting coin and notes. The same can be said for currency discriminators and counters, which limit the amount of time your employees handle cash directly.

Additional Benefits of Automation

Security isn’t the only benefit of automation. There are so many ways automation can serve your casino including,

  • Overall greater efficiency
  • Faster process times
  • Improved customer service
  • Reduced labour costs

Discover all the ways your casino can benefit from automated cash handling systems by contacting a cash management solutions provider today.

 

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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.
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