Cash remains a major player. Research shows consumers rank cash first for security and second for speed and convenience when making payments. Consumers use cash for more than 50 percent of transactions valued at less than $25.
Managing cash comes with extra costs due to employee mistakes, theft, banking fees and armored car pickups. Employees spend valuable time managing cash flow through a system subject to human error. Internal theft is a factor at every stage of the cash cycle. Retailers also face adjustment fees and extra time spent correcting administrative or paperwork errors.
Many in the retail industry are turning to a cash management system that includes remote cash capture or smart safe systems. Retailers see the value of freeing up staff members from counting money, balancing cashier tills, prepping deposits and driving to the bank. Smart safe systems can increase employee productivity, reduce loss and boost bottom lines.Download