Retailers do a significant amount of cash handling every day. Did you know that with traditional cash handling, a banknote is touched at least eight times before it is deposited? Over time, this amounts to many hours of work – time that can be used for more productive tasks. Have you ever thought of how much time your staff spends handling cash?
45 min per day
The daily routines to check out a drawer to a cashier, check it back in at the end of a shift, count the cash in the drawer, and balance it against a sales report at shift close take at least 45 min per cashier. Additionally, there is time spent on counting float during the day. At the end of the day, there is the reconciliation that has to be done. Additionally, there is, of course, all the time spent counting money for every single purchase at the checkouts.
15 hours per week
For security reasons, two employees are usually required to count the cash in the back office. If you have several shifts per day and a couple of checkouts, the time spent on handling cash easily turns into several hours per day. If you count the total time spent on cash handling every day, week, or month, you will soon realise that a significant number of hours are spent on this non-productive task. In an average store, it can be up till 15 hours a week! However, this can be fixed. By using an automated cash handling solution, the time related to cash handling can be reduced by more than half.
Let the machine work
An automatic cash handling solution eliminates a lot of time-consuming routines from the cashier’s working day. Unexplained cash differences are a thing of the past. Cashiers no longer need to count the money in the drawer or do the back office administration. The customer always gets the correct change; the queues at checkout will be reduced, and more customers will be assisted. The staff can focus on customers and generating sales instead of the cash.
Time-saving and safe
The basic idea behind an automated cash handling solution is to automate the whole cash handling process. The machine does the counting, tracking, reporting, carrying, and storage of cash. The cashier does not need to count the cash in the drawer or calculate the exchange. The machine does it all! Why not invest in an automated cash handing solution and let your staff members do more revenue-generating activities instead of handling notes and coins?
Six reasons why you should consider retail cash management