Informed business owners and upper-level managers have first-hand experience with the main struggle that accompanies accepting cash as part of operations: the strain manual cash management puts on limited resources. On average, manual cash handling-related tasks during a normal day of operations at a typical retail establishment—counting money and verifying those counts, checking for counterfeits, securely storing money in-house, taking deposits to the bank—require an average of 15 hours per week (that’s 780 hours per year) spent inefficiently on manual tasks that work against an organization’s bottom line. Fortunately, business owners and managers looking to increase efficiency can do so quickly and easily by adopting a system that drives down costs and makes employees work smarter, and more safely, with cash.
Cash Management Automation
The easiest and fastest way owners and managers can automate their cash handling processes is by implementing smart safes throughout their location(s). Smart safes are turnkey cash management solutions that require little set-up and are proven to reduce costs and increase efficiencies. Plus, these safes are equipped with an intuitive design and interface, which makes them easy for employees to learn and use. For example, to operate a Dunbar Cash Manager smart safe, cashiers simply enter their assigned identification numbers and insert bills they receive at the point of sale into the machine. That’s it. The smart safe does the rest by authenticating and reconciling each note it receives for every transaction made.
Improving Operational Efficiencies
Automating this portion of cash handling immediately increases a business’s efficiency by removing time-consuming steps from daily cash management processes. The only time an organization’s employees need to spend physically handling cash is the time it takes them to receive the bills from customers and feed them into the machine. By using smart safes to streamline operations, an organization’s employees are able to focus on selling merchandise, providing great customer service and spending previously burdened time on other activities that will help increase its bottom line. Plus, because smart safes drastically reduce the amount of time employees are touching money, businesses that adopt a smart safe system instantly reduce the risk of shrinkage due to internal theft. For business owners and managers that means less employee turnover due to theft, less time spent hiring and training new personnel, and more time to dedicate to growing their businesses.
Increasing Cash Visibility
Additionally, because smart safes accurately and securely accept, record and store cash, business owners and managers no longer have to spend time counting (and recounting) and preparing funds for bank deposit. Instead, they can see balances directly from each safe, and, if they are a Dunbar Cash Manager Safe customer, they can visit Dunbar’s Cash-Aware web portal for remote reporting snapshots of their cash activity and in depth transaction reports in real-time at any time of day. Plus, because all Dunbar Cash Manager Safe customers receive armored cash-in-transit services as part of their service bundle, business owners and managers no longer need to physically transport their stores’ cash to the bank. As another added benefit, Dunbar Cash Manager Safes can securely communicate to participating banks to facilitate advanced credit to customer bank accounts. These capabilities mean owners and managers can improve their cash flow and have complete visibility so they can spend less time managing cash and more time running their business.