Automated cash management systems located at the point of sale inherently streamline manual cash handling processes. They are both time and money-saving solutions that drastically decrease the number of hands required to manage incoming bills. In addition to detecting counterfeit notes and assisting with loss prevention controls, cash management systems provide a safe and secure way to deposit and store money, as well as decrease the risks of internal and external theft.
Smart safes, which serve as a fundamental and significant innovation to address these challenges, are proven to be effective cash management solutions to help customers secure their point of sale environment. But smart safes are more than just a resource for asset protection. There’s a key feature in smart safes that can help business owners and managers beyond loss prevention and continue to deliver return on investment well into the future—and that’s reporting.
Smart Safe Reporting Capabilities
Customers who utilize smart safes have around-the-clock access to detailed reports that include:
• Deposit history and analytics
• Employee deposit tracking
• Real-time balances across the enterprise
• Collection and end of day totals for easy bank account reconciliation
Smart safes store all transaction data for each customers’ safes indefinitely in a centralized, web portal. Reports draw records from any period of time from the very first deposit made into the safe down to the very minute of the current day in real time.
Applying Reports to Improve Business Operations
Smart safe reporting makes it simple for business owners to have detailed visibility into all cash activity at each of their locations; and safes equipped with real-time reporting capabilities provide an even deeper view. Smart safe customers can use the reporting dashboards available through the web-based portal to see employee cash drop frequencies each day. This resource also reveals which employee made each drop, so upper-level personnel can see which employees are depositing notes regularly, and which are not. By identifying both peaks and valleys in drop frequencies and in employee deposits, business owners can take appropriate action to ensure employees are depositing cash efficiently throughout the day.
Not only does increasing drop frequency help make employees and their businesses more efficient, it also keeps organizations safer by decreasing their risks of internal and external theft. Because real-time smart safe reporting can reveal abnormal deposit activity along with the names of employees associated with that activity, employees of stores that use them are less likely to steal. And, because smart safes make it possible for employees to keep less cash in their tills at any given time, businesses using them have less cash exposed to the risk of potential robberies.
Reports generated from smart safe data also allow business owners with multiple locations to see varied transaction activity from store to store. Viewing cash activity at this level allows business owners and managers to see which stores are more cash-intensive than others, which can help them determine whether they need to allocate existing company resources differently or invest in additional resources to support that activity.
Because smart safe customers have unlimited access to reporting, business owners can run and rerun reports as often as they would like at any time of day. Access to online reporting also enables them to customize their dashboards, which in turn means viewing the information they deem most important to improving their operations. These capabilities give them the power to make smart safe technology work to their advantage—and for their businesses’ bottom lines—long after their initial investment.
Do your business leaders have complete visibility over your cash operations?
Streamline the reporting process through Dunbar’s Cash Manager Smart Safes