New research: The hidden cost of cash management

We all know that if you’re in the retail or restaurant industry, there is a cost to managing cash. Cash handling errors, internal theft, banking/CIT fees and the labour hours associated with managing cash all negatively impact your business’s bottom line. But by how much? Tellermate and Loss Prevention Magazine have teamed to find some answers to this question in an upcoming piece of research. But, we need your help…

We’re asking experts in Loss Prevention and Retail Operations to take part in a two-minute survey to help inform the study. In exchange, we’ll send you a free copy of the research once it’s completed.

The survey, along with a number of in-depth interviews with industry professionals will form the basis of the research piece to be released later this year. It will highlight just how much cash actually “costs” global businesses, both financially, and in terms of the labour and resource associated with processing your cash – not to mention the time associated with investigating instances of cash loss. It all adds up.

“What’s in it for me?”

In our experience, many of the global retailers that we work with often don’t have a full understanding of just how much cash handling errors, cash loss, and investigations really impact their business. They know that inefficient cash processing is costing their business money, but they don’t know the true extent of this, or what they can do to streamline their cash management and reduce the cost of cash to their business.

The Tellermate Cost of Cash Survey will enable organizations to answer not just these questions; but will also give valuable insight into payment trends and the appetite for cash management technology across your industry – helping inform strategy for the coming year.

All results are anonymous and each survey participant will receive a free copy of the finished research as a thank you for participating. With this, you’ll be able to:

• Benchmark against others in your industry and region: Are you seeing more instances of cash loss than others in your industry? Are you taking longer to manage your cash each day than your competitors? Or, do you have better visibility over your cash than your peers? Use the survey to benchmark your answers against the average for your industry to learn where your business is excelling, and where improvements can be made.
• Discover the real “cost” of cash to your business: How much time, money and resource is really going in to managing the cash in your business? Use the research to understand the key areas of wastage and what you can do to address these.

How to get involved

The survey has already closed.

If you’d like to contribute further, we’ll be running a series of follow-up interviews to gain a more in-depth analysis. To take part in the follow-up interviews, be sure to leave your relevant contact details at the end of the survey or, contact us here.

Looking to reduce cash loss in your business? Download our “Slush Fund” Ebook to identify internal theft in your business.