Automating cashMoney in physical form such as banknotes and coins. More handling brings a number of benefits to retailers that go beyond improved logisticsThe term originates from military language and refers to the movement and provisioning of troops at war. In today’s business vocabulary, it refers to the management in particular, the transportation, storage and distribution of finished goods. More. Joan C. Brancaccio of the Bank of America Merrill Lynch lists these benefits in an article for Loss Prevention Insights.
Benefits include:
Greater security for retailers
Thanks to in-store cash recyclingThe process of converting waste materials into new materials and objects. Banknotes are increasingly recycled after destruction, and the waste is often used for landfills, isolation material etc. Polymer notes are melted into pellets which are recycled into new products. Recycling is often incorrectly used instead of recirculation. See Recirculation. More machines, cash registers can be regularly emptied earnings immediately secured in a safeSecure container for storing money and valuables, with high resistance to breaking and entering. More.
Lower costs
By automating cash counting and storage, employee time dedicated to other tasks that are needed most and that are the added value to physical shops: helping customers.
Immediate access to revenues
Thanks to the automation technology, moneyFrom the Latin word moneta, nickname that was given by Romans to the goddess Juno because there was a minting workshop next to her temple. Money is any item that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular region, country or socio-economic context. Its onset dates back to the origins of humanity and its physical representation has taken on very varied forms until the appearance of metal coins. The banknote, a typical representati... More deposited in the cash recycling machine’s safe immediately appears in the retailer’s bank account even though the cash is still physically in the shop.
Better data
By automating these processes, retailers can develop algorithms to better understand consumer cash usage – and thereby better plan their cash and coins inventory to avoid being short on cash or having too much at any given time.