One common question often raised is regarding the difference between automated cash handling procedures and manual cash handling procedures.
Automated cash handling has several processes like recycling, dispensing, counting, tracking, and sorting out cash. This is done through hardware and software. The process prevents loss of cash and theft as well. Every business is aware that cash handling is time-consuming and risky. It can also be labor-intensive. Most of the businesses have staff hired that counts, sorts, balances, etc., the cash manually. In other companies, employees participate in manual balancing and counting of money. Just imagine the time it takes to do the cash process manually. The time is wasted in sorting out cash and then manually arranging it. One way to save time is by using Carnation bill counters.
One should keep security issues in mind when dealing with cash. Your business can drown you into worries if your business relies on a bank instead of a CIT. Hence, automating and examining the cash handling processes are crucial for your business and your staff. Carnation bill counters prove to be secure in this regard.
Advantages of automation:
1. Increased level of functionality causes:
- Efficient acceptance, counting, authentication, and recycling of cash
- Automation of processes happening at the back end
- Labor cost to reduce
- Accuracy when counting the cash
- The count time to reduce from an average of 18 minutes to 2 minutes only
- Security Improved
2. 360 Data Views
- Reports are generated according to time, date & user
- Cash reports are generated by location
- Integration of point of sale
- Research and streamlined reconcilement
- Allows sharing of data with your company or the bank
The above advantages cause:
- The cost to reduce
- Increase the speed of transaction increased cash accessibility
- Fewer chances of errors
- Increase in accountability
- Visibility of stock and cash balances
- Security improvement
We all know that the cash won’t go anywhere. Hence, it is essential to invest in automatic cash handling techniques. Over time, automation is gradually replacing manual methods. The fact that everyone works on numbers makes accuracy in demand. A company now needs electronic payments. Robust cash handling and streamlined procedures are in the market. Customers have different requests. Therefore, you need to cater to the demands according to your customers’ priorities. This means you can’t put all the eggs in one basket as it’s very risky.
It can be concluded that automatic cash handling is more beneficial as it’s more secure and reliable. It saves time and labor costs too. Manual cash handling just increases the cost, which also increases the risk. Imagine if you have too much cash on the floor. Will you call your labor? With automatic cash handling, several processes can be done in a short period you need to cater with accuracy. Errors can take more time to be fixed if you’re using manual cash handling procedures. Time is valuable. Labour and the time spent in managing cash manually can be invested in other activities.