Perhaps you’ve heard of a smart safe, but you’re not sure what it really is. You have a regular safe, so what’s the difference? The difference is in the name: this safe is smart! More specifically, smart safes are the ultimate cash handling and storage solution for any business that handles cash. It organizes and automates all your cash management needs in one place, ensuring your cash is always safe and secure.
So, it stores cash, but it stores it smartly? Not exactly. This safe takes all cash handling activities into account and simplifies them, making them more efficient, secure, and easier to tackle. It combines all the benefits of a standard safe, with an automated twist.
Still not sure how a smart safe can benefit your business? Keep reading to see just how smart this safe can be.
What Does It Do?
First and foremost, it’s a safe. It completes all the functions of a standard safe, like securely storing your cash. It can only be accessed by employees with authorized access codes. It covers all the basics!
However, a smart safe also monitors the flow of cash from each employee, offering you valuable information and statistics regarding your cashiers’ efficiency. With this information, you can train cashiers and better improve daily routines that surround cash. No longer will you be left wondering if there’s room for improvement; the safe will give you all the answers you’re looking for.
In addition, unlike traditional safes, smart safes eliminate cash flow problems by allowing you to process cash right away. All your cash is counted, sorted, and balanced when you deposit it into the safe. It can then be recycled back into your business as you see fit. This saves you time, money, and effort, and lets you focus on your business.
Retail shrinkage is a bad word for most business owners. No business owner wants to see their inventory or cash disappearing without reason. However, for many businesses, internal theft accounts for over 34 percent of all retail shrinkage. That’s a dangerously large number. Thankfully, smart safe technology protects cash not only by securely storing it but also by tracking any deposits or withdrawals made using the machine. If a till is entered that’s not properly balanced or an unauthorized withdrawal is made, you’ll be the first to know.
Why It Matters
Running a business is all about efficiently managing cash: Your bottom line is your most important concern. So shouldn’t your cash become a top priority?
Cash handling concerns face every business. A smart safe helps you combat them. That’s why it matters. Making the investment in cash management technology is one of the easiest and most efficient ways of ensuring every cent of cash your business earns ends up right where it belongs: back in your business. Without such technology, you run the risk of losing money.
How to Get Started
So, you’ve learned about smart safes and now you want to get started: smart move! When it comes to cash management solutions, make sure you make the investment in a company that has years of experience and the highest quality machines. Otherwise, you run the risk of paying more for expensive replacements down the road. Consider the services you expect from your provider and don’t make a decision until you feel secure.
Making the investment in a smart safe is one way you can ensure your business stays sharp both today and in the future!