To be as productive as possible, casinos need to invest in cash management solutions. Very few other types of establishments handle as much cash as they do. With millions of dollars in bills and coins coming through every month, cash handling processes absolutely must be as streamlined as possible. Many gambling establishments use money counters for this reason. For businesses that deal with a lot of cash, counting each dollar by hand is unnecessary, time-consuming, and risky. Bill and coin counters have a high return-on-investment. Here are some of the reasons why casinos use them.
Better Customer Service
In the casino industry, money exchanges hands at many points of transaction—from the restaurant and bar to the slot machines and card tables. When employees are spending all of their time counting cash, they’re not taking care of their customers’ needs as effectively as they could be. Currency counters allow them to spend less time handling cash so they can focus on the clients that are standing in front of them. For gambling establishments, this increase in customer service can mean the difference between customers enjoying themselves and coming back repeatedly or them having a terrible experience and never stepping foot through the doors in the future. Since customers are their lifeblood, casinos naturally want to make their gambling experience the best it can be.
Lowered Labour Costs
When cash is processed quickly with the use of bill and coin counters, employees aren’t spending hours in the back room counting it manually. Money counters can go through thousands of bills and coins every minute—a speed that no employee can boast, even the best ones. The speed at which money counters work allows casino owners to send their employees home earlier, so they can save on labour costs.
When money is counted by hand, a lot can go wrong. Human error happens but it doesn’t have to. Currency counters guarantee total accuracy with every count, so you never have to deal with discrepancies in counting or in reporting. That means less chance of losses so you get to keep more of your profits.
Criminals are becoming increasingly tech-savvy. They can pass off fraudulent bills that are nearly identical to genuine bank notes. It can be difficult for employees to spot fake bills. The naked eye can’t see everything. Money counters are equipped with detection technology that rejects fraudulent money automatically so staff members can be alerted to suspicious activity. The casino industry is a prime target for these fraudsters. Increasing security in every way possible is imperative—and technology can help them do just that.
Reduce Internal Theft
The casino industry is also at an increased risk of internal theft. Dishonest employees will take any opportunity they can to slip a few bills in their pockets if they can. Even when they perform background checks before hiring, the risk of internal theft still looms over them. When bill and coin counters are handling most of the cash, thieving employees have fewer opportunities to be alone with money, so the risk is lowered.
Using Technology Leads to Better Business
These days, handling large amounts of cash by hand is unnecessary. It’s a waste of time and money. With currency counters, casinos can provide better customer service, lower their labour costs, increase speed and accuracy, and reduce the risk of fraud and internal theft. The return on investment is well worth the purchase. The benefits of processing cash with the help of technology simply can’t be ignored.