When it comes to handling cash, sorting money manually isn’t a good idea.
When you count and sort money by hand, you’re inviting human error into a critical business process. What happens if you mistake a $5 bill for a $20 bill? Relying on manual cash sorting can hurt your business, and improperly counting is just the beginning.
Keep reading to see why cash sorters are the cash management solution of the future and how making the investment will benefit your business.
What Are the Risks?
One of the biggest problems associated with manually handling cash instead of relying on cash sorters is the risk of mistakes occurring due to human error. You’ve been counting money for a few hours, you’re tired, and maybe you’re distracted: It’s easy to make mistakes. And while one mistake here and there won’t ruin your business, over time, you’ll start to see the effect it has on your bottom line.
Unfortunately, while you think you’re saving money, you’re actually putting more money into higher labour costs. Think about it this way: If a machine can sort and count 1,500 bills in one minute, but it takes you half an hour, are you really saving money? The answer is no. Automated cash solutions like cash sorters streamline the process, meaning less time is spent counting and more money is saved on labour costs.
Lastly, let’s talk about the big bad word in business: theft. Internal theft is a risk some employees are willing to take, and when they have control over the sorting and counting process, it creates the perfect opportunity for money to slip away unnoticed. However, with a cash sorter, receipts are printed for every transaction. So if money does go missing, you’ll know exactly when, where, and who it went missing with.
Is a Cash Sorter Confusing?
Cash sorters are simple and easy to learn. All you have to do is place coins or cash into the machine, and the sorter will sort and count the bills for you by denomination. Each machine is also equipped with counterfeit detection technology, meaning counterfeit bills are found and rejected. It’s easier than you think!
What Am I Gaining?
By now you understand the risks of not using cash sorters, but you want to hear more benefits. As the way of the future, cash sorters are the cash management solution you can rely on. It’s an investment that brings your business benefits both today and in the future.
Investing in a bank note sorter is vitally important for saving time and money. Counting and sorting cash takes time, and a lot of it, especially if something goes wrong. Cut the costs of manual labour and increase the speed of counting money with a cash sorter.
As discussed earlier, one of the greatest threats to the manual cash counting process is human error. While no one intentionally makes mistakes with your money, errors do arise. Combat human error with technology that counts and sorts correctly the first time.
Internal theft is one of the top reasons businesses experience shrinkage. In fact, 34 percent of shrinkage is reportedly due to internal theft. Don’t put your business at risk—invest in cash sorters today.