Smart safes and cash recyclers have become increasingly popular tools for the retail, entertainment and hospitality industries to protect their cash while streamlining their everyday processes.
As two of the most comprehensive cash-management solutions offered today, smart safes and cash recyclers present different paths to increased cash visibility. While smart safes optimize the efficiency of operations by holding, automating and balancing cash deposits, cash recyclers ease cash handling by making funds readily available for redistribution.
Both technologies boast impressive returns on investment for high-volume businesses. Here are six ways these cutting-edge cash-management solutions can benefit your business’s bottom line.
1. Cut labor costs.
How much time does your team spend managing your daily cash flow? Likely, your most valuable employees spend substantial time counting, recording, and analyzing your cash counts, and the cost of that labor can be significant. By introducing automated technology such as smart safes and cash recyclers, you can more quickly, accurately, and safely manage your cash and coin needs. That reduces your labor costs which in turn keeps employees staying focused on customer service.
2. Deter internal and external theft.
Smart safes and cash recyclers can prevent steep losses from internal or external robberies. Both devices minimize cash exposure at your customer-facing locations and limit unauthorized access to your deposits, keeping your money secure at all times. Smart safes also have built-in tracking capabilities which make it easy for you to trace transactions back to individual members of your team in the event of discrepancy or potential internal theft.
3. Avoid costly human errors.
Back-office employees who are responsible for counting, tracking and depositing cash face significant pressure to perform perfectly. Smart technology minimizes the risk of costly human error. By increasing the consistency and accuracy of your cash management, safes and recyclers help you avoid unexplained shortfalls and other damaging mistakes.
4. Reduces cash-in-transit pickups.
With smart safes and cash recyclers, cash transport is even easier and more cost-effective. These technologies work hand-in-hand with your cash-in-transit services, increasing the efficiency of your processes and reducing the frequency of cash pickups and change-order deliveries. Cash recyclers slash your number of pickups by allowing you to reuse a portion of your cash at each location, and smart safes make it convenient to consolidate multiple deposits into one pickup.
5. Protect against counterfeit cash.
The United States Department of Treasury estimates that there is over $70 million of counterfeit money in circulation. The burden of verifying each bill you receive and reporting any phony money is on you and your team. Payments of counterfeit cash can lead to immediate losses for your business if they are not immediately caught. Smart devices such as safes automatically verify your cash and coins for you, allowing you to speed up the verification process and minimize losses.
6. Accelerate access to credited funds.
Smart safes and cash recyclers allow you to deposit funds and receive daily working capital quickly. Instead of making all deposits manually and waiting for the credit, you can use smart technologies to accelerate the process. Your armored transportation provider and financial institution work together to give you rapid access to the funds in your safe, ensuring that you have what you need for your business as soon as possible.
Axiom Armored Transport is a full-service armored car company that offers self-service device solutions ready for you to deploy. Our smart safes and recyclers combine the most state-of-the-art technology and security, allowing you to increase the security, visibility and fund availability of your business. Get started today by calling our experts at 866-761-6712.