As a business owner, you might have to handle a lot of cash every day, so you aren’t any stranger to the prominence of appropriate cash management. You could complete these cash handling tasks by hand; however, you no longer have to worry about it because of the existence of an automated cash management system. These technologies take on the tasks of cash handling, offering your business an ability to exploit its lucrativeness.
Adopting one of such systems – teller cash recycler (TCR) into your cash management routine is an excellent way to keep up with the hassles of cash handling in your trade.
What are cash recyclers?
Cash recyclers are relatively new, but it is transforming how businesses are managing currency. Cash recyclers are known as an all-in-one machine, which is designed to take on the tasks of cash handling from the beginning to the end. It includes identifying counterfeit currency, accepting and dispensing floats, authenticating bills, counting the cash, sorting it, as well as balancing.
Investing in a cash recycler technology aids you in several efficiency issues that are faced by the industries. Let us see in detail how a cash recycler benefits your firm and why investing in it can be a great opportunity.
Reduced Operational Costs
Lowering the operational cost is something that interests the financial institution, especially when labor costs are too expensive because of the increased demand for standard customer service.
Using automation in your cash management process can help your firm in several ways:
- Reduces the time consuming and tedious process of physically counting the cash.
- Saved hours allows you to refocus your staff on tasks that are said to boost the profitability of your firm.
Substituting cash drawers with automated cash recyclers will considerably improve security. Cash recyclers store your money safely in a machine, which can only be accessed using a PIN. The features, such as cassette tamper indicators and serial number tracking, offer a highly secure and cost-effective solution for your business.
Also, by using a TCR equipped to reject counterfeit currency, your firm can protect the money from internal and external theft and fraud.
Simplified Cash Management
Cash recyclers will allow you to stay on top of your cash management process. Consider an example of LTA-350, one of the most efficient teller cash recyclers in the market. It is capable of dispensing 16,250 notes and also has 12,000 note recyclable ability. It performs note counting, sorting, and serial number tracking tasks too.
With such benefits, one can rapidly and accurately complete the whole cash management process in a portion of the time that manual cash handling consumes.
Increased Accuracy Rate
Manually handling the cash may result in several errors. Mistakes occur naturally in the course of the point-of-sale or the cash room while counting and processing bills. As it’s impossible to eliminate human error, one can make use of teller cash recyclers to reduce the mistakes by just about 100%.
Automation lets your cash management to endure without any setbacks and prevents you from paying for pricey errors.
In the early days of TCR’s, regular capacities were limited to 4000-5000 notes, and that wasn’t large enough to handle the bulk of cash that needed automation.
However, the teller cash recycler’s capacities are raised to over 10,000 notes today. Some even come with the overflow and transit cassette capability, and their volume exceeds those numbers. This increment in the recycler’s size allows for busy branches to handle the peaks smoothly.
Although there are diverse transforming technologies in the market, integrating the teller cash recycler (TCR) into your business can be a worthwhile investment. With this automated high-tech machine, you can reduce management resources, improve controls, and leverage money to your advantage so you can focus primarily on developing your business.