Seven ways to protect your cash

This article is brought to you by Retail Technology Review: Seven ways to protect your cash.

Steve Fitton, Sales Director for SCAN COIN, suggests how closed loop cash handling can cut your losses and make customers happy.

 
1. Get closer to customers Customers today demand a high quality of service and service is one of the few ways that retailers can differentiate themselves from their competitors Take cash out of the equation by automating the cash gathering and counting process by creating a more open work space with barriers removed.

2. Improve security With closed loop cash handling retailers spend less time counting and handling cash. Since cash is not exposed, retailers also reduce losses from shrinkage and burglary. This improves security.

3. Cut your costs Many banks now require fees for cash deposits, and counterfeit notes can add significantly to operating costs. All in all, closed loop cash management reduces banking fees, processing penalties, employee theft, robbery, and human error.

4. Save time Using closed loop cash handling enables retailers to better use their resources because they spend less time on cash management tasks and more time on activities that generate sales. Store management and employees have more time to assist customers, complete sales transactions and manage staff.

5. Give customers more control When it's their money, customers want to take some control. Automated cash counting also gives them assurance that they have not paid too much and that their change will always be correct.

6. Suit yourself Closed loop cash handling is ideal for any retail setting where cash is used from stores of all sizes to fast food outlets and petrol stations. Once it is in the point of sale unit, it is safe all the way to the bank.

7. Recycle change Kill the inefficiency of sorting and counting cash from tills and sending it for banking while buying in fresh coin to balance floats. With a fully recyclable cash solution at the till you can optimise the amount of cash you hold in the store, minimise reprocessing, reduce your cash delivery and collection costs and cut the time taken to manually process the cash.
 
CashComplete by SCAN COIN is a closed end-to-end solution securing the entire cash loop. Notes paid into the CashComplete point of sale unit at the till remain unexposed and securely stored until they reach their intended destination such as the back-office or cash centre.