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Cash handling and automation

Categories : Cash is efficient, Innovation contributes to the efficiency of cash
January 30, 2018
Tags : Cash, Retailers, Technology
Thanks to technological advancements, retailers can now handle cash much faster, at a lower cost and for immediate returns.
Communication Team / Equipo de Comunicación

This post is also available in: Spanish

Automating cash handling brings a number of benefits to retailers that go beyond improved logistics. 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 recycling machines, cash registers can be regularly emptied earnings immediately secured in a safe.

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, money 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.

This post is also available in: Spanish