These days, cash recyclers are a common part of the interior architecture of many commercial banks. They are also found in the back offices of gaming halls and in some of the large retail businesses that have a cash office
What is the appeal of these large, complex devices? Simply put, they cut the time that a teller or cashier spends on accepting, dispensing and counting cash, and preparing floats. And because the large devices also serve as a vault —the security risk is minimized as money is kept safely out of sight until required.
Automated cash management equipment reduces shrink, eliminates errors and frees up staff to attend to customers, affording them more time to cross-sell additional products, rather than handling cash. Cash recyclers are therefore viewed as a way of reducing operational costs, reducing transaction times and making the customer happier.
These machines sound amazing, don’t they? But are you willing to fork out $20k-$70k to purchase one? And will you then be happy to sign up for the ongoing maintenance and support contracts on top of that? Unless yours is a business that handles very large volumes of cash, comparable to that of, say, a Walmart, you probably won’t be able to justify that level of expenditure.
What do you do when the lights go out?
Even for the largest organizations, who can easily recoup the cost of a cash recycler through resulting operational savings, cash recyclers do have a significant downside: many mechanical moving parts are subject to wear, they are susceptible to jams, heavy reliance on third-party software, all of which can and do malfunction from time to time – meaning your recycler could be down for days. They also need time out for cleaning and annual servicing.
So, what do you do when your cash recycler breaks down or is out of action? For most businesses, unless they have multiple machines, it’s back to the cash drawer and good old-fashioned counting by hand and counting some more! Out goes the operational efficiencies that you gained and in comes the grind, effort, staff working later and under pressure and errors associated with counting by hand.
Plan B
But, while you wait for a software or mechanical technician to come on site to resolve your cash recycler issues, consider the merits of putting a Plan B in place.
Several Cashmaster customers have already adopted such a plan, and have the peace of mind that, when their cash recyclers misbehave, they have a fail-safe method, albeit a different one, for managing their cash.
Cashmaster International has been at the forefront of count-by-weight cash counting technology for over 40 years. Designed for intensive use in challenging environments, the Cashmaster One range of cash counting devices constitutes the perfect Plan B – easy and very inexpensive to put in place.
Maintain a high level of efficieny
From start to finish, Cashmaster One™devices are the fastest on the market and will complete a cash drawer count with a high level of accuracy and print a receipt in under 60 seconds.
Works everywhere – alongside and in place of recyclers
More than likely, the layout of your premises has been designed to accommodate your cash recycler, and you might wonder whether a back-up device will fit in?
The Cashmaster One™, however, is right at home even in the smallest of spaces. Its compact and ergonomic design make it both easy to use in almost any setting and small enough to store in the tightest of spaces. Due to The Cashmaster One™ ranges design and portability, a lot of our customers use our devices in partner with their recyclers.
The printer and the power, all without wires in one neat self-contained unit— great for carrying out quick spot checks and audits, as well as standard cash counts and pick-ups.
Will you miss out on integrated reporting?
Not at all. Cashmaster devices support can store your count data, and quickly display or print a range of reports. There are a number of different options for transferring data quickly and directly from the Cashmaster One™ device to your own cash management system.
With Cashmaster QR-Link, one of the latest enhancements - the transfer does not rely on access to your wi-fi network, the security of the data transfer itself and the integrity of your systems are never compromised.
Too easy!
The Cashmaster devices are so easy to set up and use, they make an ideal back up device for when your recycler breaks down. Much like using a smart phone, there is no steep learning curve for your staff (or training costs for you). With a few minutes of instruction, managers and staff will be ready to go.
When your cash recycler calls in sick, bring out the Cashmaster One.