Simple Ways to Streamline Your Cash Management System

    May 13 2014

    These days, people seem to have everything down to a science when it comes to running their personal lives – keeping track of appointments, finding time for the kids, and working in all the other little pieces that go into maximizing your time off are probably at or near the top of your personal priorities. Unfortunately, sometimes it is hard to extend this same dedication to handling cash in the workplace. To help you fix up this priority if it's fallen by the wayside, here are some simple tips that can get you on the right track. With these tactics and tools – like currency sorters – in hand, you'll soon have your cash management protocol back in order, freeing up even more time to enjoy all of the things you're looking forward to after you close up shop for the day.

    Create a Workplace with Cash Management in Mind

    One of the easiest ways to spruce up how you handle incoming currency in the workplace doesn't require setting up new routines or installing security cameras that canvas every corner in the store. Instead, it's all about maximizing the placement of everything behind the shop counters to make handling money easier, while also reducing the risk of misplacement and shrinkage. For instance, keeping your safe out in the open might seem like a good idea, but in reality, having it where strangers and regulars alike can see it isn't exactly the safest way to do things. You'll be far better off if you dedicate a portion of your back room, away from prying eyes, to sorting, counting, and storing these funds until you're ready to drop them off at the bank.

    Be Conscious of Your Cash Culture

    If you want to go the extra mile, changing up your "cash culture" in addition to how you set your workplace up can help you build an even better plan for handling these funds. This process includes creating a system built around responsibility and accountability with workers. Having an agreed upon set of rules and regulations regarding improper cash procedures, like leaving money unattended or less than transparent counting practices, as well as penalties and repercussions that go with them can serve as a strong deterrent to mishandling your store's money. While it might be a little tricky or awkward explaining this change at your next staff meeting, having this culture in place will help build ethical and responsible work practices that keep your mind at ease, especially when you're trying to enjoy your day off.

    Cut down on the "Moving Parts"

    Of course, the best way to clean up and streamline your cash management system is to simply cut out all the unnecessary steps and actions that happen on a daily basis. After all, the fewer moving parts you have in the process, the fewer chances there are for things to go wrong. You'll have to do a little auditing to see what needs to go and what should stay before you start making cuts. Once you have this figured out, one of the easiest ways to trim down your cash handling system even more is to add automation and efficiency to the process with powerful tools like currency sorters. By letting this equipment help give your cash handling system a tune-up, you can also free up your employees to handle other duties around the store, creating a situation that any owner or manager would be hard-pressed to say no to.

    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