Cash management is a crucial aspect of any business. As many businesses look for ways to optimize their operations, cash management should become a key focus.
Why? Good cash management can help you lower overheads, streamline operations, and even boost the bottom line.
If you’re not sure where to start, you might want to consider a complete cash management package. This solution can help you reimagine and streamline every aspect of cash management in your business. So, what is a complete cash management package? This guide has everything you need to know.
1. What Is a Complete Cash Management Package?
A complete cash management package is a solution that’s designed to help you handle every aspect of your cash management. To that end, it provides:
That means you’ll get not just the hardware or the software to introduce cash automation to your business, but everything you need. With one vendor providing both the hardware and software, you can rest assured you’re getting a more comprehensive, integrated solution.
Support is also crucial for adopting cash automation technology. Training, troubleshooting, and even maintenance are included in a complete cash management package, so you don’t have to worry about what happens if something goes wrong.
2. What Are the Benefits of a Cash Management Package?
Now that you know what’s in a complete cash management package, you’re probably wondering why you should consider one. What advantages does it have for your business?
As it turns out, there are quite a few benefits of adopting a complete solution for your cash management. The first is efficiency. The complete cash management package is provided by one vendor, who offers you everything you need to better manage your cash.
They help you source and select hardware. They also provide the software, which is integrated into the hardware you’ve selected. In turn, they can offer you the most comprehensive support for the devices you’re using in your business. Whether you need assistance in maintaining the hardware or you must troubleshoot the software, they can assist you every step of the way.
Another advantage is the cost-savings. A complete cash management solution is much more affordable than buying a new smart safe or currency recycler upfront. Instead of requiring financing or to lay out a large sum, you can purchase a complete cash management package for a more manageable monthly fee.
By doing so, you gain access to all the benefits of cash automation technology. You also don’t need to worry about additional software or buying a maintenance solution on top of what you’ve already paid out for the hardware, because it’s already included.
Finally, the cash management package could improve your bottom line. It adds efficiency and automation to your cash handling, which can lower the costs of cash in the business, as well as overhead.
3. What Devices Are Available?
The complete cash management package works with smart safes and currency recyclers. These cash automation solutions are designed to help you realize better security, more accuracy, and improved cash handling in the business.
Smart safes can be used to enhance security, but they also provide benefits like better oversight of cash. In the US, they also help to improve cash flow management, as some smart safes can connect you to provisional credit and better management of cash-in-transit.
Currency recyclers allow you to manage your cash more effectively in the backroom or at the point of sale. In both cases, the device tallies up cash and verifies it, then helps make change and holds cash safe. It improves accuracy and security, as well as saving your team time.
Both devices can improve reporting, to make for more insightful business decisions.
Is a Cash Management Package Right for You?
Interested in learning more about how a complete cash management package could help your business? Get in touch with the experts to explore your options.