Sep 4, 2018
Optimizing Cash in Transit With Smart Safes
Every day our world seems to become more and more digital. We live in an era of convenience and digital is streamlining everyday processes, including transactions. One would think that debit and credit would make up the majority of transaction activity, but it’s actual cash. The issue is that cash can be time consuming, costly, and risky to handle and store. This is specifically affecting businesses relying on Cash In Transit to manage and transport their cash.
(Photo by ARCA)That is why smart safes were created, to benefit CITs and businesses alike. Digital Management is a key component of smart safes that’s revolutionizing Cash In Transit (CIT). Smart Safes are allowing businesses to monitor and control the cash all in one system. This eliminates the majority of security and safety risks often associated with traditional cash. There are many ways that Smart safes are Optimizing CIT, but here are 3 main points:
- Real-Time Processing. With smart safes, businesses no longer have to wait to utilize the cash they’re making. This is because they enable businesses to insert cash that is then digitally wired to the company’s bank account every night for real-time use.
- Reduced Cost. Because the cash is being processed in real-time, the urgency for CITs to come collect the cash is reduced. Which in turn decreases the amount of times CITs have to go out on site. This significantly cuts down the CIT costs that businesses typically paying, ultimately saving them money.
- Better Security. Smart safes drastically reduce the security risks often associated with CIT. When smart safes are used, cash is securely counted and stored. This reduces the risk of internal theft, since the cash is securely locked away and cannot be accessed. The digital management aspect also increases the accuracy of the cash count.