News & Events

News Hub

Efficiency of cash and check scanners limits damage of short-term sales dips

Efficiency of cash and check scanners limits damage of short-term sales dips

Retail businesses experience a great deal of uncertainty every day, but dual purpose cash and check scanners can at least ensure that back office processes are consistently reliable. Few managers can accurately predict how their sales numbers will turn out from month. Weather, consumer behaviors and economic trends all play a major role in determining the success of a small or midsize company. That's why maintaining efficient administrative operations is essential for keeping any temporary blips in revenue from spiraling out of control.

Most retailers inevitably have to count a large volume of cash and deposit several checks after standard store hours. While this is usually a grueling, resource-intensive process, managers have the opportunity to save a significant amount of money by investing in automated tools that are able to perform both of these tasks. Businesses may find that these conveniences pay off in tremendous ways in the long run.

Stores kick off 2014 with weak sales numbers
According to recent data from the National Retail Federation, January produced a relatively slow start to the year in terms of retail sales - especially compared to the sudden growth many organizations experienced during the holiday shopping season. Excluding automobile purchases, as well as transactions from gas stations and restaurants, total retail revenue remained relatively stagnant in relation to December. Jack Kleinhenz, chief economist at the NRF, explained this flatlining of sales numbers is, in part, a direct result of severe weather conditions throughout much of the U.S. With many regions undergoing extended periods of subzero temperatures, residents have been more reluctant than usual to leave the house and visit brick-and-mortar stores for shopping purposes.

However, setbacks like this are only temporary. In fact, The Motley Fool, an online financial publication, said the January retail sales numbers aren't all that bad when factoring in a variety of other issues, such as year-over-year comparisons. Compared to January 2013, revenue actually grew 2.6 percent. In other words, small and midsize businesses may be able to rebound in the coming months.

Regardless of what happens, dual purpose cash and check scanners can introduce a refreshing element of security into any retail operation. Enterprise owners won't have to worry so much about short-term sales dips if they are able to save so much time and money in the back room by automatically counting currency or scanning checks. 

February 27, 2014