Feature - A smart safe will really benefit your business
For retail businesses, cash management is one of the most important and perhaps challenging of day-to-day functions - from balancing tills to preparing floats, there are many points at which things can go wrong.
With challenges like counterfeit banknotes, human error, theft, and cash storage, it can sometimes feel like the odds are against you – however a smart safe might be your salvation!
As the name would suggest, smart safes include all the benefits and storage solutions of a regular safe, but with intelligence that simplifies the cash handling process while reducing - if not eliminating - those cash handling problems. A smart safe can turn stressful tasks into simple duties, allowing you and your staff to focus on more important things and less on cash handling.
So, what is a smart safe?
A smart safe is an extremely sophisticated cash management system that allows you to manage and monitor cash deposits and collections from one device. Acting as not only as a cash storage solution, it offers comprehensive reports alongside a real-time view into all movements of cash to and from your safe (and site).
Only authorised employees have access, meaning only those with a specific level of clearance can deposit cash and generally only your Cash In Transit (CIT) provider can remove it. Smart safes also monitor the flow of cash from each employee, offering statistics to help you improve cash routines and helping you maximise efficiency.
Essentially, it' It is a completely automated solution designed to help improve your business and keep cash secure.
Smart safes reduce the risk of fraud
Technology is forever evolving, making counterfeit detection seemingly impossible to combat without solutions which are equally as intelligent.
Thankfully, smart safes are equipped with counterfeit detectors and that means you no longer have to solely rely on manually check every single banknote. Relying on cashiers to manually check banknotes creates room for human error, wastes time at checkout, and creates stress for employees.
The added pressure can create tension, leading to poor customer service and more checkout errors due to added stress. With counterfeit detectors in place, cashiers can focus more on building customer relations, and less on worrying about detecting illegitimate banknotes.
Smart safes also securely store cash
Of course, regular safes also store money, but by no means do they achieve the level of security that comes with a graded smart safe. This is perhaps the greatest smart safe solution. Smart safes most obvious purpose is to protect your hard-earned cash and so should be made of material capable of doing so!
Furthermore, with the use of access codes or PIN’s, only employees with clearance can deposit funds (and no one other than your CIT company can remove them). And you can rest easy knowing your money is safe and the movement of cash is secure.
Smart safes help you eliminate theft
One of the biggest concerns retail businesses face is the risk of theft - from internal shrinkage to potentially violent external theft, the risk of loss comes from many quarters and preparation is essential.
In their 2016 Annual Crime Report, the Association of Convenience Stores (ACS) noted that there were over 9,400 incidents of violence against convenience store staff and owners. Additionally, ACS noted that crime against convenience retailers cost the industry an estimated £232m in the same year - that equates to an average of over £4,600 per store.
Smart safes introduce secure deposit processes, eliminate counting discrepancies, and store your cash in their graded safes.
With access control, transaction logging, and comprehensive reporting, each employee will become more accountable and responsible for your business cash, while the safe itself will eliminate almost every area where potential theft could occur.