Your business is growing, that’s the good news. The bad news is managing cash is taking up more and more valuable time that you and your employees could be putting toward creating a better customer experience.
If this sounds familiar, it might be time to consider a smart safe. Many companies in the retail and food industries are realizing the benefits of smart safes and how they positively impact operations.
Where to start?
The best place to start your evaluation is a closer look at the benefits smart safes offer. By taking time to learn about each benefit, you can assess whether or not it would impact your operations.
Perhaps the biggest benefit is the reduction in labor costs. Cash processing is time-intensive and is typically the responsibility of an employee who already carries a lot of responsibility, such as a manger or supervisor. It is estimated that manual cash processing requires three to five labor hours per day per location. For a business with a lot of cash coming in on a daily basis, a smart safe has the potential to lift this burden off key employees and put their focus where you want it – on the customer.
Other benefits include the elimination of human error and diminishing the risk of theft, both internally and externally. If your business currently doesn’t use a cash-in-transit carrier, a smart safe also eliminates the need to transport cash to banks. This improves employee safety and also reduces risk of theft and loss.
How does it work?
It’s pretty simple. Employees deposit the currency into the smart safe via a note reader. How often this is done depends on the individual business. The smart safe tracks the deposits and the information is automatically shared with a bank determined by the operator. Provisional credit is usually given within a day.
Still not sure?
Rochester Armored Car works carefully with customers to first discover whether a smart safe is the right solution for their cash management needs. If it is, Rochester offers a comprehensive set of smart safe solutions with key partners that will allow you to reap the benefits while maintaining your banking relationships.