Mar 2, 2022
Saving Time and Money with Smart Safes
Retail is getting smarter, and the smartest of retail devices are in high demand. Specifically, the connected smart safe, a secure device that automatically accepts, validates, records, and stores cash has gained popularity in recent years. Let’s look at how you can be saving time and money with smart safes.
To start, a smart safe's "smartness" is its ability to connect to the internet, point of sale, and other cash management technology and back-office systems. This is for good reason, considering that the smart safe could potentially mitigate financial pressures related to cash shrinkage, reduce cash handling costs, and add needed access to cash that has not physically left the store while reducing the number of cash pick-ups required. (ATM Marketplace)
Let’s take a look at some more key areas of how you can be saving time and money with smart safes:
- If you have a regular armored car pickup, by tying a smart safe to a provisional credit program, you can reduce the frequency of your pickup saving money on your armored car contract.
- If you have an operation where store managers are spending a substantial amount of time reconciling cash at the end of each shift, a smart safe will cut the process down to just a few minutes.
- Manager time can be used more productively elsewhere to improve store operations – on customer-facing, revenue-generating activities.
- If you have experienced cash shrinkage from internal or external theft, a smart safe acts as a powerful deterrent to keep your employees honest and safe.
- Many smart safe users lease or finance their equipment from cash management solution providers such as specialty distributors or armored car companies. For a negotiated monthly fee, a store can get up and running quickly with a smart safe, an armored pickup plan, and a service plan.
Smart safes have the potential to save your business time and money while also increasing overall productivity and efficiency, but they'll need network connectivity to do so.
For that reason, retailers should look for a vendor who can provide the underlying 4G LTE connection needed to support smart, safe technology. With OptConnect, you can get 4G LTE connectivity for smart safe applications of any size, with all of the necessary security built right in.
The OptConnect solution provides a more flexible, more robust, lower-cost option for smart safe systems deployments. To learn more about OptConnect's connectivity for smart safes, visit https://www.optconnect.com/solutions/cash-automation.