5 Best Ways to Reduce Money Counting Costs
in Your Cash Room in 2020
Store owners and managers are always looking for ways to increase margin. Many people quickly look to increasing prices, but cutting costs can be just as effective, and definitely more palatable to customers.
Stop counting money by hand
Hand counting is slow and inaccurate, both of which are characteristics that increase costs in the time they take to deal with. It's hard for many people to admit they are flawed, but the fact is, people cannot count money better than a good money counter. It's hard to give up control and a sense that a person saw each bill pass through their hands, but if banks use it to verify cash counts, shouldn't you trust it for your store?
Use a quality money counter
When you're running a business, it's not a hobby, so you don't get equipment as if it were. Bringing in money is the point of your business, and often, you have a dedicated person or a manager's dedicated time to deal with this money. You need a quality money counter to process this money fast, accurately, and easily. The time savings will let you cut down on managers' time in the cash office, or you may be able to cut out the cash room manager altogether.
Utilize in-house coin instead of buying rolls
Many stores have self-service coin machines that their customers use to redeem coin. It's a great service for them, but it can also be a tool for you. Instead of just sending that coin away to be counted, roll the coin easily in your cash office with the right equipment and save significant money utilizing in-house coin instead of buying rolls.
Implement a complete solution for processing tills
Truly efficient cash rooms know that getting equipment that saves personnel's time is almost always a win. Cash offices that really want to reduce operational costs and streamline end-of-day or end-of-shift counts implement a cash drawer processing system that makes quick, easy work of coin and fast, accurate counts of cash. Quickly rebuild the till to your desired float, and prepare for the next shift in less time than ever.
Choose the money counter that's right for your store's cash room
Whether you pull in a lot of cash and need a robust machine, you only need a modest device that gets the job done quickly, make sure you get a quality currency counter that's right for you. It's your business, so look at money counters as business tools and look to a supplier with a variety of money processing equipment that can serve your needs.