The U.S. economy can behave unpredictably, but dual purpose cash and check scanners give businesses a sense of control over their overhead costs in any condition. Fluctuations in certain market indicators such as consumer spending and unemployment levels have a tendency to shake up enterprise plans. When revenue is hard to come by, back office financial processes can become an unexpected source of stress for both managers and employees. That's because when business is good, organizations may not necessarily worry about the fact that manually counting cash or depositing checks is an inefficient practice.
Avoiding future resource problems
Investing in a machine that completes both of these tasks automatically leads to the kind of savings that are beneficial no matter what the economy looks like. Today's enterprise owners are no stranger to the back-and-forth of recovery from the Great Recession. According to the website Trading Economics, the Thomson Reuters/University of Michigan index of consumer sentiment has shifted unexpectedly in the last several years. After an all-time low of 55.3 points in November 2008, the measurement reached a record high of 85.1 points in July 2013. This year, the index has dropped steadily, going from 81.6 in February to 79.9 in March.
Still, consumer sentiment is only one way to measure the health of the overall economy. A recent report from Reuters cited data from the U.S. Commerce Department that found retail sales have rebounded significantly after cold weather throughout most of the country kept consumers at home during January. In February, core sales, which exclude larger purchases such as cars and building materials, rose 0.3 percent compared to the previous month's measurement.
Businesses can limit the effects of these changing economic performance indicators by ensuring their back office processes are constantly working as efficiently as possible. This becomes much easier with technology such as dual purpose cash and check scanners. These tools are designed to let employees get more work done in a shorter time period. For example, rather than relying on manual efforts to count bills or send checks to the bank, team members need only to input checks or cash and let the machine do the rest of the job. The savings associated with this enhanced performance will be enough for firms to more readily respond to sudden changes in the economy.
March 18, 2014