Feature – Increase your business security with a smart safe
Security is a priority for all retail business owners and shrinkage is a problem that sadly, most will recognise.
Whether it be from lost inventory, cash theft, transaction errors, or logistical losses, there are a number of ways that a retail business comes in contact with shrinkage.
The onus to tackle cash security falls heavily on business owners, management, and staff – and it takes a group effort to keep losses to a minimum.
Cash losses can come about from cash handling errors, counterfeit fraud, or theft. Thankfully, there are cash management solutions available that will assist your business in loss prevention and reduce shrinkage while giving your business access to reliable, accurate, and secure methods of processing your cash.
The choice is yours as to how much of your cash management process you wish to automate or outsource and what best suits the needs of your business.
One of the best tools for increasing your security and preventing retail shrinkage is smart safe technology and it can help you gain control of your security and conquer cash loss prevention with automated cash management technology.
What’s smart safe technology?
Smart safes take the principle behind a traditional safe and fuse it with technology. While a traditional safe physically protects your cash, a smart safe becomes an invaluable part of managing and protecting your cash. These safes do not simply securely store your cash, they also log information about each deposit and withdrawal made to the safe.
These safes create a secure environment for your cash handling and the cash they hold can only be accessed using passwords, PINs or biometrics. They eliminate cash processing errors by providing you with an accurate total for every deposit. Additionally, they are equipped with counterfeit detection technology that will eliminate counterfeit fraud.
Alongside the increased security benefits, variants of these safes can also increase the efficiency of your cash management by counting and balancing your cash floats. They could also optimise your cash flow by allowing you to recycle cash from transactions back through your business, reducing your frequency of bank deposits or the costs of Cash in Transit collections. Making an investment in automation boosts your security and efficiency concurrently.
Maintaining the security of your business is high on your priority list and we all understand that when there is so much that can go wrong, investing in a solution that prevents losses from multiple sources is definitely in the best interests of your business. Smart safes prevent both internal and external theft by restricting access to your cash to authorised users - cash is out of sight and out of mind.
Any transactions are tracked by individual staff member due to unique passwords, PINs or biometrics - this means that you can ensure that your cash handling is efficient and accurate while your staff will feel an increase in accountability.
With their counting and sorting abilities, these safes eliminate cash handling errors by completing your cash balancing tasks efficiently and accurately - first time! And manual cash handling errors will be a thing of the past!
So … the first step to making an investment in automation is to evaluate what your business needs and if your cash security is a concern, then perhaps smart safe technology will transform your business.
Why not speak to one of our team to help you draw up a benefits illustration and ROI calculation – we’re sure that we can demonstrate how our technology will optimise your cash management and increase your bottom line.