Businesses investing in cash counting machines have at least one thing in common: They are much more efficient now that they’ve automated a manual, tedious and often inaccurate process.
Automation is not a luxury but a necessity in today’s highly competitive retail market. By automating monotonous tasks, such as counting cash, you provide employees the time needed to do more productive tasks that require the human touch.
This June 2017 shopify.com blog post states: “Technology can increase employee efficiency (and free up valuable time) by automating certain processes, enabling them to focus on more challenging or important tasks.”
And, according to a March 2017 Harvard Business Review article, “Clearly, any enterprise that doesn’t embrace automation won’t be able to survive any better than a farmer with a horse-drawn plow.”
Cash management technology is so incredibly important for any business that takes cash as a form of payment – regardless of size. It streamlines processes, reduces cash loss, increases security, and helps make employees more efficient. Cash handling technology is quick to implement, requires no installation or complex interaction with IT departments, and is intuitive and easy to use as well.
If your business accepts cash payments and has not invested in cash management technology, why not? With competition from Amazon and other online and bricks-and-mortar retailers, how can you afford inefficient processes any longer?
If you still aren’t convinced, read through our top 10 reasons cash management technology – namely our weight-based T-ix cash counters – helps make your business more efficient.
Frees up staff. By automating a laborious manual process – counting cash – you can reduce man-hours, reallocate employees’ time to perform other tasks, or both. Think about how long it takes a cashier to manually count a cash drawer at closeout. 15 minutes? 20 or 25 minutes? Tellermate’s T-ix cash counter allows an employee to count an entire drawer of bills and coins in less than 60 seconds. This is a huge time saving that lets your staff perform other duties, such as driving sales or spending time with customers.
Counts rolled coins and strapped bills. The T-ix Full Roll feature allows you to weigh multiple denominations of rolled coin at once. It also notifies you of a suspect roll, meaning you will know immediately if a roll has too many or too few coins. Because the cash counter checks the accuracy of a roll, it saves you time and spots discrepancies that could have led to a loss. Plus, the review screen allows you to key in rolled coins by quantity – which also saves time because you don’t have to manually add them one at a time.
The T-ix can also validate strapped bills for every denomination in both 50 and 100 quantity straps. When over or short, the T-ix sends a warning message so you can check for the correct amount of bills.
Provides spot audits & change disputes. The optional T-ix lithium ion battery (similar to the battery in your cell phone) makes your unit portable. The easy carry-grip handles allow you to take your lightweight T-ix to the register and perform spot audits or settle customer change disputes. So, no need to shut down a lane to perform a count.
Tallies less-common denominations. Your Tellermate T-ix counts those pesky $2 bills and 50-cent & $1 coins, too. You know how long it takes to count coins by hand…it’s inefficient. A few simple key presses on your T-ix machine allow you to weigh the denominations that make a rare appearance in your till. No coin or bill is left uncounted!
Counts new and old bills. Whether bills are new or old – torn or intact – the Tellermate T-ix counts them the same way. Even when a ripped bill has been taped! To weigh a stack, we recommend using the pinch and drop method of 20 or less bills at a time. However, when all the bills are new, count only 7 to 10 bills at once. This helps the device learn and continually calibrate.
Validates start banks and safes. Manually counting drawers is automated. In fact, the need to recount a drawer and the dual-count process is no longer necessary with the help of the T-ix. In addition, the currency counter allows you to quickly validate straps in your safe to ensure no bills have been removed.
Reduces bank error fees. When your deposits are efficiently prepared ‒ and correct ‒ the bank doesn’t charge you. The Tellermate T-ix ensures accurate deposits every time.
Can be programmed for non-cash items. You can program your machine to count non-cash items, such as checks, tokens and coupons (which includes gift cards, gift vouchers, tickets and stamps). This also includes keying in negative values, such as refunds.
Optimizes CIT pickup and delivery prep. Manually counting CIT pickups and deliveries is a thing of the past since the T-ix automates both processes.
Provides 12 hours of continuous use. After charging the device’s rechargeable battery for four hours, you’ll get 12 continuous hours of portable use. To ensure your T-ix is always ready, we recommend charging the battery every day when you finish using it.
When you invest in weight-based cash counters, your employees and your processes will be more efficient. This has been proven time and time again with many of our customers.
After implementing the Tellermate T-ix 3500 into its stores, Goodwill of Southeast Wisconsin’s Director of Asset Protection Tony Lawson, said, “Operational efficiencies, timeliness, and accuracy are the key objectives Tellermate has helped us receive.”
In addition, cash management devices normally have a return on investment (ROI) in just a few short months. Meaning you get your money back through savings incurred. So, what are you waiting for?
To learn more about weight-based cash counters, including benefits other than efficiency, download the Benefits to counting cash by weight Ebook.