Investing in dual-purpose check scanners and money counters is a common-sense decision for any grocery or convenience store owner who wants to maximize back-office efficiency.
Consumer behaviors have changed in recent years, presenting many businesses in these industries with new challenges. The International Dairy-Deli-Bakery-Association recently released a collection of white papers and reports that suggest many demographic groups are increasingly gravitating toward a preference for making cash and check payments as opposed to credit cards. For example, the organization found many millennial shoppers have struggled with debt in recent years, which means they may be more likely to forgo electronic payments to avoid further damage to their financial situations. Similarly, minority households are more likely to seek out small, cash purchases at convenience stores than at large supermarkets and grocery chains.
When small grocery shops and convenience stores experience an increase in cash check transactions, it can become especially time-consuming to perform back-room operations without jeopardizing the success of other business responsibilities. What these companies need is an efficient way to deposit checks, count cash and perform other essential financial duties. In fact, many small and medium-sized enterprises in the food and beverage industry are constantly searching for ways to streamline daily operations. A recent article in the online publication Slate magazine said large-scale cost-saving measures are often the most effective in driving long-term growth. Chains like Aldi and Trader Joe's, for example, have experienced success largely through private labeling and other strategies that reduce overhead expenses.
Small and medium-sized grocers and convenience stores can further increase the efficiency of their operations by utilizing cash counter and check scanning machines. Manually counting cash or depositing checks at the end of the day is often a time-consuming task that may ultimately become an obstacle to long-term growth. Automated technology can streamline these processes and offer an easy way for stores to reduce costs.
December 10, 2013