Retail Cash Management
Cash is dominant in consumer transactions less than $25, which accounts for many purchases in stores that could use smart safes. Cash dominates the number of payments. Click Here to Read More.
Restaurants, Fast Food Dining and Retail
With employees managing your money throughout the day by managing cash drawers or self-banking, Cash Management (CM) can reduce 1-2 hours per day of reconciling and managing daily cash sales for your staff. CM eliminates the need for multiple touches and puts control back into your manager's hands by eliminating the need for mangers to leave the establishment to make deposits and the ability to stay in the stores and focus on daily tasks. CM also reduces errors and saves time for staff. This all contributes to the cost savings improvements. CM provides the processes, reporting, and accountability to help make cash handling worry-free and efficient.
Convenience and Grocery Stores
Cash Management provides stores with the tools to increase efficiency by changing the way managers and employees handle, reconcile and report cash within the convenience store setting. Reconciling tills takes less time. Reporting is in real-time, and credit can be applied to an existing bank account immediately. Decreasing the risk of loss and saving time by bringing all cash handling functions in-house, CM reduces the amount of trips to the bank, keeps managers and employees in the store, and makes banking relationships more efficient.
Cash Checking Stores
Cash Management offers a device that keeps cash safe until courier pick up, a reporting system that offers real-time reporting, and the ability to reconcile drawers easily and swiftly. Decreasing the risk of loss and giving your staff peace of mind and confidence.
Entertainment Venues including Casinos
50 different stations, hundreds of employees all handling their own tills can be nerve-racking. That's the world of sports and entertainment venues, and Casinos. Cash Management offers a controlled environment for cash counting, saving each employee time daily anywhere from 30 to 60 minutes equaling potentially hundreds of hours per week for the business. Managers spend on average 2 or more hours less time closing the books at the end of a shift or event with CM solutions in place. Increase employee efficiency and cut down on time and save on your bottom line.
Benefits to Retailer
- Reduced financial / theft risk
- Immediate deposit and value
- Interest generated on deposited funds
- Reduced CIT cost / cost of cash
Benefits to Financial Institution
- Less corporate customer churn
- Additional services and revenue
- Product upsell opportunities based on deeper customer relationships
- Better management of the overall cash process
- Enhanced relationship between financial institution and their customer base
- Increased revenue for financial institution
- 10%-30% reduction in cash handling & processing costs
- 50% reduction in cash over/short
- 25%-100% reduction of in-store working capital requirements
- 25%-75% increase in availability of cash receipts