One of the biggest headaches retailers constantly deal with is efficiently managing their cash flow. Traditional cash management methods leave store managers and employees without knowing exactly how much cash they have at all times, who is responsible for specific deposits, and lack of access to numerous reports. These issues often arise due to a lack of visibility into their funds from not using the latest cash management technologies. Efficient and effective cash reporting is critical to the success of any company—no matter how large or small.
Organizations continue to waste time on manual processes because it isn’t what they are accustomed to or they don’t have the most up-to-date technology in place—perceiving cash shrinkage as unavoidable and hoping their traditional methods keep their money secure. For all the exhausted effort spent managing cash and no guarantee of accurate counting and safe delivery of deposits, retailers are looking for solutions to better streamline their efficiencies and increase visibility into their cash.
Technology Provides Increased Visibility
The smart safe is the perfect solution. The latest technologies enable businesses to achieve operational efficiency and have access to detailed reporting that provides a deeper level of visibility into their company’s cash flow.
Smart safes automatically accept, validate, track, record and store cash in a secure environment. Their ability to connect to a local network or cloud-based system allows business owners and managers to have remote access to a variety of reports. As a result, businesses have more transparency, accountability and visibility into their cash.
When using a smart safe, cashiers insert currency directly into the safe, where each bill is authenticated and automatically reconciled. The smart safe prepares bank deposits, then electronically sends the transaction data to an online portal for easy viewing. A cash logistics provider will service the safe, remove deposits and securely transport them to a cash vault where the funds are verified and the deposits are transferred to your bank account. Throughout this process, store managers and business owners have complete visibility of their cash flow in real time.
Smart Safe Reporting
There’s a key benefit that can help business owners and managers well beyond productivity and loss prevention-reporting. Smart safe reporting capabilities allow organizations to see how much cash its business has at any given moment.
It is best to use a smart safe that utilizes wireless connectivity because it allows the safe to send reports and deposit activity data in real-time. Providing the ability to pull up your cash-related data on any device, at any time. This allows users insight into performance and cash metrics for specific KPI tracking.
Smart Safe customers who utilize this type of connectivity also have 24/7 access to detailed reports that include:
– Deposit history and analytics
– Employee deposit tracking
– Real-time safe balances across the enterprise
– Collection and end of day totals for easy bank reconciliation
Smart safe reporting dashboards help:
– Simplify business processes with remote management of all safes on the network
– Streamline operational analyses with real-time reporting, activity monitoring and cash management
– Enhance cash logistics through complete visibility of cash deposit activity
– Deliver deposit information to the business’s bank account and facilitate daily credit if available
All of these reporting capabilities are made readily available through an online portal. Utilizing smart safe reporting will simplify business operations, improve cash logistics, and strengthen loss prevention controls.
The Full Solution
The smart safe in conjunction with services from an armored cash management provider will increase the level of visibility, transparency, security and accountability organizations need to manage their cash from start to finish. Upon partnering with an armored services carrier, a security professional will arrive at your location to service the safe, deliver any pre-ordered change orders, and transport deposits safely to your bank.
During that time, business owners are able to see the amount of funds they have through the reporting portal and dashboard. This solution gives you detailed visibility into your cash prior to the actual deposit being made. Allowing retailers to streamline business operations, and enhance their overall cash management. Partnering with a smart safe and armored cash management provider is the most efficient and secure way for businesses to handle the entire process of bank deposits.
Smart safes have completely changed the way retailers operate. The new technology automates many tasks that used to be done manually, and provides real-time visibility and reporting into your cash flow. Dunbar’s Cash Manager Safes can provide you with peace of mind, knowing your cash is safely stored and accounted for.
Learn how smart safe reporting capabilities allow your business to streamline operations and increase visibility into your cash flow.