Small business can reach new levels of efficiency through the use of dual-purpose cash and check scanners. Although the economy is recovering, many small and midsize enterprises were forced to make cuts during the recession. Even now, some business owners need to do more with fewer resources. A single machine that handles cash and checks can enable owners to boost their back-office efficiency without spending more on payroll.
Many local businesses accept a high volume of cash and check payments from their customers, which can be time-consuming to count up at the end of the day. Additionally, one of the top challenges small-business owners will face in 2014 is rising minimum wage costs in many areas, according to Forbes. Because the economy is getting stronger, it may be more difficult for owners to hire new workers, and compensation costs are on the rise. This could prove to be a challenge for small companies that operate on a tight profit margin.
Small businesses often rely on minimum wage labor to get work done, and many experts fear that raising the federal or state limits would cause owners to cut back on scheduling or put off any hiring plans, The Washington Post reported. Minimum wage increases would come at a time when small-business owners are also dealing with concerns over employee health care.
If federal minimum wage were to increase, many small-business owners will likely look for ways to reduce the number of overtime hours they need to pay. Counting cash and checks from the registers after closing can be one of the most time-consuming aspects at a small business. Depending on the other tasks required to shut the store for the night, employees could go over their scheduled time. Dual-purpose cash and check scanners enable business owners to quickly and accurately add up their cash and checks at the end of the day to prevent going over their payroll budgets– and even electronically deposit the checks to their bank – increasing closing accuracy and preventing the need for overtime.
May 21, 2014