Four Reasons Retailers Will Fall in Love with Cash Recycling Technology
With rising labor costs, the current labor shortage, and the state of the economic environment being unpredictable, now is the right time for retail owners and operators to investigate solutions that can help automate as many manual processes as possible. For many years, smart safes have helped retailers streamline their end-of-day cash handling process, reduce risk and occurrences of theft and save on bank fees. However, after years of limited options, there is now an alternative for retailers looking to automate virtually all cash activity within their store with one turn-key solution: cash recyclers.
“The retail industry has been a utilizer of smart safes for decades, but cash recyclers are challenging the status quo of cash automation technology,” says Tim Adair, Vice President of Retail Business Development – Titan R. “Cash recycling helps take a retailer’s cash management to the next level by simply giving you access to the funds you need at all hours and further optimizes a retailer’s operations by reducing the amount of labor spent on cash handling.”
Below are four reasons why you’ll love using a recycler to automate cash handling in your retail operations:
1. Time savings for employees
Cash activities at the start-of and end-of-shift are a time-consuming process, and when you add in unnecessary trips to the bank for deposits and change, cash handling can take up a significant part of your employee’s time that could be better spent on other job responsibilities. On average retailers can save anywhere from 30 minutes to two hours a day on labor depending on the size of the operation.
2. Better visibility into cash operations
An invaluable benefit to implementing cash recycling technology in your retail location is the increased visibility into cash operations. Loomis’s Titan R cash recycler has individual user credentials so managers can see exactly when the recycler was used, who accessed it, and how much cash was deposited or withdrawn. This type of visibility reduces overall cash shortages and allows for any cash disputes to be resolved quickly. Another benefit to retailers that use Loomis’s cash recyclers is access to Loomis Direct, an advanced reporting, and analytics portal that can be accessed remotely so managers no longer have to be in the store to understand what’s happening with their cash.
3. Less change orders
By deploying cash recycling technology, retailers are less likely to lean on their armored car relationships or physically go to the bank to get cash and coin to make change for their customers. Cash recyclers allow you to recycle the small denominations like $1s and $5s while safely depositing larger denominations until your next armored car service pickup. This not only saves you time from taking trips to the bank, but it will also reduce the bank fees you’d normally accrue from change orders.
4. All-in-one solution
With Loomis’s all-in-one SafePoint solution, retailers can find peace of mind knowing that everything including the cash recycler unit, armored truck pick-up, customer service, maintenance, reporting, and billing is handled by one partner: Loomis. Having one point of contact for all your needs saves you time and frustration when support is needed.
Loomis has always prioritized the development of new cash management technology and Loomis’s Titan R and Titan RX were developed to further innovate cash automation in the retail space. When you decide to upgrade your retail location with a Loomis Titan cash recycler, you’ll be working with a trusted and reliable cash management partner with a dedicated account representative. Loomis will serve as your singular point of contact for all aspects of the solution, from around-the-clock hardware and software support, to access to advanced reporting capabilities through Loomis Direct, and best-in-class armored service, which provides the peace of mind to facilitate a smooth-running operation.
“Retailers have experienced unforeseen challenges in the last 20 months, and as they continue to trek through uncertainty Loomis has a full suite of automation options to assist with recovery to more normal times,” says Adair.
To learn more about how cash recyclers can help your retail location visit: https://www.loomis.us/cashrecycling