Why Smart Safes Are Great Business Investments

    Jan 26 2018

    Topics: Smart Safes

    Making money is what makes a business successful, but there’s an extra step between making money and depositing it into your bank account. That extra step is your cash handling process, and it might be costing you money. In order to prevent this, you should invest in a smart safe.

    Download our free guide for CFOs to find out how cash handling is affecting  your bottom line.

    Smart Safes

    Smart safes are a type of cash management solution that can help you keep your cash safe. 

    A smart safe requires everyone who has access to have their own login and password. The safe automatically counts how much money it’s holding each and every time someone takes out money or puts money into it. It also contains a bill validator so you can avoid counterfeit currency. It can also track data and create reports. 

    It gives you control over your cash in a way that wasn’t possible before.

    Managing Cash Flow

    A smart safe is a great investment for a business because of the information you receive regarding your cash flow. Unlike a regular safe, a smart safe is connected to the internet and gives you reports about your cash flow. 

    It can tell you when money was taken out of the safe and placed into it. It can tell if you received counterfeit currency. This is fantastic information to have because you can learn when your busy times are and when it’s important to have more cash in the safe.

    Removing Human Error

    The smart safe counts the money that’s put into it. This eliminates the need to have your employees count money at the end of their shifts or at the end of the day. The smart safe is able to count the money faster and more accurately than your employees can, and it eliminates the chance of human error while counting.

    Reducing Theft Opportunities

    No one likes to think badly of their employees, but employees do steal. If they’re going to steal, they usually end up taking approximately $2,500 worth of money and goods before they’re caught. That’s a hit you shouldn’t have to take and might not be able to afford.

    With smart safes, everyone who’s handling cash is required to have their own login and password. Each time the safe is opened, the safe records who’s opened it and the amount of cash that’s been removed. This makes it easier to discover if any cash is missing, and if so, who’s taken it. Cutting down on employee theft helps your bottom line, making a smart safe a great investment.

    Accessibility and Peace of Mind

    It’s important for business owners to know they’re in control of their cash at all times. When you invest in a smart safe, you gain that control. It can be set up so that the smart safe alerts you on your phone every time the safe is opened so you know immediately if cash is taken out or put into the safe. The safe will also give you reports about your money, such as who’s accessed it. You’ll always be in the loop and in control of your money when you have a smart safe.

    A smart safe is a great business investment because it gives you control over your money at all times. It also cuts down on human error and employee theft, which can affect your company’s bottom line. Invest in one to transform your cash handling processes and keep your money safe.

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    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