Managing cash manually can be costly. It’s fraught with error and it’s inefficient.
Evention research shows automated cash management typically decreases the cost of accepting cash to less than 1%. By removing manual aspects, cash management can be cost effective.
Managing cash through automated cash recycling and reconciliation tracks cash from start of shift through bank deposit. It eliminates manual spreadsheets, manual cash counting, and manual reconciliation. This reduces opportunities for error and promotes more efficient cash handling.
Automated cash recycling and reconciliation means management doesn’t need to fill and re-fill tills. Instead employees essentially “buy change” throughout their shift. Biometrics and cloud-based SecureDrop software tracks these till fills and re-fills.
Managers receive daily reports flagging over/shorts. This eliminates manual spreadsheet comparison and regular cash counting.
Accepting money shouldn’t cost a business money. And it shouldn’t be a hassle.
Cash can, in fact, be managed conveniently and cost-effectively.