Allow us to imagine every retailer's nightmare - a physical cash theft.
An opportunistic thief has managed to snatch bags of money from a vulnerable staff member on their way to delivering the firm's turnover to a bank. As well as having a negative effect on balance sheets as insurance may not cover the loss, cash theft can have a significant impact on the well-being of staff if they are present at or even worse, at the centre of an incident.
Despite the dawn of the digital age, we still live in a culture where thieves remain undeterred from physically targeting retail staff or attacking unprotected vehicles transporting cash. As a result, retailers need to maintain a constant state of vigilance.
Of course, cash security can be less to worry about if businesses are in the safe hands of a specialist who provides secure cash management solutions.
The safety of staff and customers
In working with a specialist cash transport company, businesses are helping to make all areas of their site, from the shop floor to the cash office, safer for their staff, customers and the general public.
Utilising a Cash in Transit company with trained custodians to collect cash from site means businesses will no longer have to send vulnerable staff with large amounts of cash to the bank.
The typical cash collection procedure sees an armoured vehicle arrive within a specified time window, along with a custodian carrying identification. Cash is collected, scanned, placed in a safe transport box and delivered to a secure unit on-board the armoured vehicle, before onward transport and credit to a bank account takes place.
By outsourcing cash collection from stores, staff will no longer have to deal with the transport of cash to a local bank, mitigating the risk of theft. Employers also have the peace of mind from knowing they are engaging in a safer, more effective way of transporting their cash from store to bank.
Outsourcing cash management and transit duties to a specialised firm allows staff to concentrate on other areas of the business, too - such as customer service or stock rotation, for instance.
This also gives senior employees peace of mind as they can relegate worries regarding their staff's well-being to the back of their minds. Consequently, the whole business hierarchy - from top to bottom - can concentrate on the most important thing: ensuring the customer is satisfied in their experience with the brand.
There is no trick to avoiding every single form of crime, but there is a vast difference between preventing theft and waiting for an incident to happen.
As a result, ensuring your firm has secure cash management processes in place is an effective way of protecting the people, takings and reputation associated with your brand.