{"id":5100,"date":"2018-05-24T16:19:07","date_gmt":"2018-05-24T16:19:07","guid":{"rendered":"https:\/\/www.tellermate.com\/?p=7329"},"modified":"2018-08-06T09:38:43","modified_gmt":"2018-08-06T09:38:43","slug":"10-ways-livedrawer-helps-decrease-cash-loss-increase-staff-efficiency","status":"publish","type":"post","link":"https:\/\/www.tellermate.com\/ca-en\/news-and-resources\/10-ways-livedrawer-helps-decrease-cash-loss-increase-staff-efficiency\/","title":{"rendered":"10 ways LiveDrawer helps decrease cash loss, increase staff efficiency"},"content":{"rendered":"<p>You already know that the retail landscape is constantly evolving and increasing online competition has driven change with in-store shopping, too. We\u2019ve listened to our brick-and-mortar customers\u2019 pain points when it comes to decreasing cash loss and increasing employee productivity and want to share our top 10 ways in which using the LiveDrawer&#x2122; solution benefits retailers, just like you.<\/p>\n<p><a href=\"http:\/\/www.tellermate.com\/ca-en\/products\/intelligent-cash-drawer\/\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-7335 alignright\" src=\"https:\/\/www.tellermate.com\/wp-content\/uploads\/2018\/05\/LiveDrawer-inside-blog-300x214.png\" alt=\"LiveDrawer\" width=\"300\" height=\"214\" \/>LiveDrawer is an intelligent cash drawer<\/a> and software solution that counts cash the moment bills and coins are placed in or taken from the register. Businesses using LiveDrawer have a running total of their cash in real time, which allows them to nearly eliminate cash loss at the point of sale (POS); do away with manual cash handling procedures that might take cashiers off of the shop floor; and even reduce customer wait times as it optimizes change. That is, lanes won\u2019t need to be shut down if a cashier is out of a certain coin or bill \u2013 which leads to a better customer experience.<\/p>\n<p>But that\u2019s not all. By implementing an end-to-end cash management solution, your business can reduce and prevent cash-related loss, drive process and efficiency, and improve the customer experience. The benefits are plentiful, which is why we\u2019ve provided 10 ways that LiveDrawer can help your business, too.<\/p>\n<p><strong>The LiveDrawer solution:<\/strong><\/p>\n<p><strong>1)<\/strong> Prevents shortchanging a customer \u2013 whether accidental or deliberate. If a cashier doles out too little change \u2013 LiveDrawer can generate an alert. You choose to either have the alert fired off at the POS simultaneously so the cashier has the opportunity to correct the discrepancy right away; or alerts can be fired to loss prevention or area management teams. This allows them to investigate by following the audit trail and previous data\/trends to find out whether these losses are habitual.<\/p>\n<p><strong>2)<\/strong> Sends an immediate alert when too much change is given at the POS. This protects your profits and your cashiers; plus, it reduces the end-of-day cash drawer reconciliation time as well. In fact, LiveDrawer prevents the need for slush funds as cashiers have confidence that their tills won\u2019t come up short.<\/p>\n<p><strong>3)<\/strong> Optimizes change levels on the shop floor via the Cash Management feature. Meaning your cashiers should never run out of coins or bills again since alerts are fired when coins and bills need replenished \u2013 eliminating the time it takes to physically check each cash drawer. This enhances the customer experience because they won\u2019t be inconvenienced by long lines that used to develop while waiting for a manager to deliver change. And they won\u2019t be given a handful of bulky coins for change, either.<\/p>\n<p>In fact, LiveDrawer is proactive in that it also provides:<\/p>\n<ul>\n<li>real-time data showing store managers it\u2019s time to re-order coins and bills from their CIT providers and often times reduces the number of times they need to order change;<\/li>\n<li>alerts to managers when skims or lifts are needed. This automatic signal alleviates the process of checking cash drawers for too many bills or large-denomination bills, which frees time for other tasks. You\u2019ll never again need to count a drawer in front of shoppers or in the back office.<\/li>\n<\/ul>\n<p><strong>4)<\/strong> Makes <a href=\"http:\/\/www.tellermate.com\/ca-en\/news-and-resources\/lane-accountability-can-lead-employee-theft-retail-stores\/?force_country=US\">lane accountability<\/a> \u2012 when cashiers use the same lane\/cash drawer \u2012 perfectly acceptable. As long as they sign in with their cashier ID\/number at the POS. This is because LiveDrawer instantly ties each transaction to the cashier responsible for that transaction. Meaning if there is a cash-related shortage or attempted theft, you\u2019ll know which cashier to hold accountable, even when tills are shared.<\/p>\n<p>LiveDrawer allows you to open and close lanes with ease to better deal with daily shopper-related peaks and valleys at the POS. There\u2019s no need to count a drawer when a lane opens or closes \u2013 no customer inconvenience or additional wait time \u2013 since LiveDrawer automatically tracks the amount of cash in a drawer. With minimum wages rising in many areas of the world, this allows managers to either send a cashier home early or have them perform other profit-producing tasks.<\/p>\n<p><strong>5)<\/strong> Makes shift changeovers a breeze. Since multiple cashiers can sign in at the POS and use the same drawer, LiveDrawer eliminates the need to manually count and recount drawers during shift changeovers. Retailers save money by reducing or reallocating labor hours. Employees are thrilled to clock off on time. And customers are happy they\u2019re not waiting in line while tills are counted when cashiers are switched.<\/p>\n<p><strong>6)<\/strong> Accelerates the start-of-day and end-of-day process. Since LiveDrawer automatically counts a cash drawer, the manual counting process is redundant and no longer necessary. Since a drawer won\u2019t need counted at the start of the day, the store opening won\u2019t be delayed. When it comes to closing, retailers can reallocate their cashiers\u2019 time or have them clock out early \u2013 saving time and money.<\/p>\n<p><strong>7)<\/strong> Reduces time spent preparing the start-of-day bank since <a href=\"http:\/\/www.tellermate.com\/ca-en\/software\/livedrawer-manager\/\">LiveDrawer Manager<\/a> automatically populates most cash-related data, including pickups\/lifts.<\/p>\n<p><strong>8)<\/strong> Delivers in-depth, cash-related insight and analytics to the head office. This includes trends such as problem stores, cashiers with higher-than-average rates of cash loss, stores with high levels of cash transactions or even high levels of cash on site.<\/p>\n<p>Because in-store cash data is readily available, decisions regarding your cash can be made quicker than ever before. Should you shut down a lane that\u2019s been dormant? Or do you need to investigate a cashier who\u2019s making too many mistakes during a shift? LiveDrawer feeds business-critical data into your other systems.<\/p>\n<p><strong>9)<\/strong> Allows your employees more time to create meaningful, helpful customer experiences. Managers spend less time handling cash. Cashiers spend no time counting cash. The head office gets a holistic picture of the in-store cash in each and every location. LiveDrawer delivers real and tangible time savings that allow you to focus on other areas, such as interacting with your customers. All while reducing and <a href=\"http:\/\/www.tellermate.com\/ca-en\/news-and-resources\/loss-prevention-technology-decreases-cash-loss-even-remotely\/\">even eliminating cash loss<\/a> at the POS.<\/p>\n<p><strong>10)<\/strong> Removes <a href=\"http:\/\/www.tellermate.com\/ca-en\/news-and-resources\/reducing-staff-stress-ebook\/\">cashier stress related to counting cash and balancing drawers<\/a>. Because the LiveDrawer solution automatically counts cash at the POS, the stress of balancing a drawer is eliminated. Staff feel more secure since they don\u2019t need to worry about making up for losses out of their own pocket. They need less training. And they can focus more on stocking merchandise or helping your customers. In fact, LiveDrawer improves overall morale and has actually helped some stores retain employees because they feel protected.<\/p>\n<p>Retailers implementing the LiveDrawer solution have been able to save an average 30 minutes per lane each day based on Tellermate\u2019s in-store reviews; and store managers save between 1 to 2 hours per day since most cash-handling processes are automated. And retailers have also greatly reduced the number of cash loss investigations since discrepancies are reduced. In fact, some LiveDrawer trials have shown cash loss to be reduced to almost nothing. Meaning LiveDrawer provides a quick return on investment.<\/p>\n<p><a href=\"http:\/\/www.tellermate.com\/ca-en\/contact-us\/\">Contact Tellermate today<\/a> to arrange a free consultation: to explore how the LiveDrawer solution can help you virtually eliminate cash loss at the point of sale, drive in-store efficiency and reduce the labor costs associated with manual cash-handling processes.<\/p>\n<p>To find out how LiveDrawer benefited a leading electronics retailer in Europe by nearly eliminating cash loss at the POS, download this <a href=\"http:\/\/www.tellermate.com\/ca-en\/case-studies\/leading-european-retailer\/\">case study<\/a> today.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>You already know that the retail landscape is constantly evolving&#8230;<\/p>\n","protected":false},"author":8,"featured_media":5107,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[3,74,77,75,76,78],"tags":[26,70,14,40,71,72,33],"class_list":["post-5100","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-efficiency-improvement","category-intelligent-cash-drawers","category-loss-prevention","category-retail-technology","category-software-analytics","tag-cash-loss","tag-cash-management-solutions","tag-cash-management-technology","tag-intelligent-cash-drawer","tag-livedrawer","tag-livedrawer-manager","tag-retail-technology"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>10 ways LiveDrawer helps decrease cash loss, increase staff efficiency - Tellermate Canadian 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