{"id":7142,"date":"2022-03-28T15:02:30","date_gmt":"2022-03-28T15:02:30","guid":{"rendered":"https:\/\/www.tellermate.com\/?p=10029"},"modified":"2022-03-29T19:12:09","modified_gmt":"2022-03-29T19:12:09","slug":"we-dont-deal-with-enough-cash-for-that-or-do-we","status":"publish","type":"post","link":"https:\/\/www.tellermate.com\/us\/news-and-resources\/we-dont-deal-with-enough-cash-for-that-or-do-we\/","title":{"rendered":"We Don&#8217;t Deal with Enough Cash for That &#8211; Or Do We?"},"content":{"rendered":"<p>Cashless payment methods have had an accelerated growth in the last 2 years, and even though cash is bouncing back it probably won\u2019t be the same in many countries.<\/p>\n<p>Many governments are safeguarding cash, knowing how important it is for a large number of people to use in their everyday life. And although stores attempted to go cashless with signs that say, \u201c<strong>CREDIT CARDS ONLY, MOBILE PAYMENT ONLY,\u201d\u00a0<\/strong>there are still plenty of times we encounter\u00a0signs that say, \u201c<strong>card system or internet down, cash only.\u201d<\/strong><\/p>\n<p>Cash usage has picked up recently, but it can vary greatly by region, type of business or even just between the shops down the road.<\/p>\n<p>Now as business owner you may ask yourself: \u201cIf I don\u2019t take in a lot of cash, why should I care about it?\u201d The simple answer, it\u2019s eating into your profits. The cold hard truth is that even if you don\u2019t take a lot of cash, you still need to manage your cash process. So, I\u2019d like to point out how important it is to manage any intakes including cash, regardless of the quantity.<img loading=\"lazy\" decoding=\"async\" class=\"wp-image-10033 size-medium alignright\" src=\"https:\/\/www.tellermate.com\/wp-content\/uploads\/2022\/03\/iStock-1144428335-business-man-question-web-e1648479508549-186x300.png\" alt=\"\" width=\"186\" height=\"300\" \/><\/p>\n<h6><strong>Let\u2019s start by asking\u00a0these simple questions<\/strong>:<\/h6>\n<ul>\n<li>Is my way of cash handling out of date and\/or open to human error?<\/li>\n<li>How much time could I save by tweaking my process a little and how much could that save me in money and time within 6 months?<\/li>\n<li>Do you have a set or variable float in your tills?<\/li>\n<li>How often do you need to bank your money or order change?<\/li>\n<li>Do you have methods and processes in place that hold your employees accountable?<\/li>\n<li>Do you think that since you already have a friction counter in place, you have your cash process buttoned up with no need to revisit?<\/li>\n<li>Do you have the ability to monitor your cash activities and media payments within your sites?<\/li>\n<\/ul>\n<h6><\/h6>\n<h6><strong>With those questions in mind, let\u2019s take a look at how the lack of good cash management can negatively affect your business and bottom line:<\/strong><\/h6>\n<ul>\n<li>You could face high bank error fees because your deposits don\u2019t match your deposit\u00a0records.<img loading=\"lazy\" decoding=\"async\" class=\"wp-image-10034 size-medium alignright\" src=\"https:\/\/www.tellermate.com\/wp-content\/uploads\/2022\/03\/iStock-1042161342-web-e1648478610556-190x300.png\" alt=\"\" width=\"190\" height=\"300\" \/><\/li>\n<li>You and your team could loose valuable time throughout the day reconciling tills, preparing floats or bank deposits. By the end of the day you end up stressed because you have to take overtime to balance the cash and make sure all numbers are correct. And what about the time wasted now that you haven\u2019t been able to do your daily tasks and promote more sales in store and strengthen customer relationships?<\/li>\n<li>If there is no solution in place or one that has many loopholes, some employees may think they get away with taking cash out of the drawer or safe. Watch that your trustworthy employees don\u2019t end up being blamed, they may walk.<\/li>\n<li>Without audit trails, accountability, and traceability, finding the actual source of cash loss could take a long time. Sometimes it\u2019s not even worth investigating certain amounts given the time needed to research.<\/li>\n<\/ul>\n<p>You see, it\u2019s not just about how much cash you take in. Thinking it\u2019s not worth managing can lead to losing it one way or another.<\/p>\n<p>Many companies that use <a href=\"https:\/\/www.tellermate.com\/products\/cash-counting-machine\/\">money counters<\/a> and cash management solutions love the time it saves them and the business. Once it\u2019s in place, shrinkage becomes nearly non-existent, and the solutions usually pay for themselves in a matter of months.<\/p>\n<p><strong><em>Could you benefit from a swift solution for cash handling that allows your employees to dedicate more time to other valuable tasks within the business such as supervision and management of stock and customer service? <a href=\"https:\/\/www.tellermate.com\/sectors\/\">See what our customers have to say!<\/a>\u00a0<\/em><\/strong><\/p>\n<p><a href=\"https:\/\/www.tellermate.com\/sectors\/\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-10035\" src=\"https:\/\/www.tellermate.com\/wp-content\/uploads\/2022\/03\/customer-stories.png\" alt=\"\" width=\"800\" height=\"261\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cashless payment methods have had an accelerated growth in the&#8230;<\/p>\n","protected":false},"author":18,"featured_media":7148,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[3,74,75,76],"tags":[],"class_list":["post-7142","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-efficiency-improvement","category-loss-prevention","category-retail-technology"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>We Don&#039;t Deal with Enough Cash for That - Or Do We? - Tellermate USA<\/title>\n<meta name=\"description\" content=\"Cash intake can vary greatly and you may ask yourself: \u201cIf I don\u2019t take in a lot of cash, why should I care about it?\u201d The simple answer, it\u2019s eating into your profits.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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