In all sectors of retail, especially in brick-and-mortar stores, the name of the game today is cutting costs and increasing efficiencies. Retail has to get lean and mean to compete with online-only competitors. But when considering ways to cut costs, it doesn't have to mean layoffs or store closings. The first thing to do is look at your operational costs to see where you can trim, snip and do things more efficiently. Small changes like that can mean a big boost to your bottom line.
One place to start that can give you powerful results is to look at your cash-handling procedures. Are your people (or you) still counting money in the cash office by hand? If you're still doing it the "old fashioned" way, those inefficient cash handling practices are costing you money.
Automating your cash handling procedures with a currency counter gives you a big bang for your buck. Not only will it save your staff time — you can do a job in minutes that used to take hours — but it also greatly reduces, if not eliminates, human error, or (we hate to even bring this up) employee theft. Every business owner or manager knows that fatigue, distractions or human limitations can cause the person counting your cash and reconciling your till to bring error into the mix. It throws off your books, and you'll need to spend yet more time running down the error and fixing it.
Dual purpose money counter/check scanners will give you quick and accurate counting, processing cash faster and checks at 400 items per minute, recording a high-res dual-sided check image, export data to your check management software to archive, send the check the deposit to your bank. It will streamline your process from day one, and put an end to you losing money through inefficient cash handling. Then you can get on to doing what you and your staff do best: serving your customers.
May 31, 2019