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 casinos and in many large retail businesses that have a cash office.
What is the appeal of these large, complex devices? Simply put, they reduce the time that a teller or cashier spends on accepting, dispensing and counting cash, and preparing a register start bank. 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 invest $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 resultant operational savings, cash recyclers do have a significant downside: many mechanical moving parts are subject to wear, they are susceptible to jams, have a heavy reliance on third-party software, all of which can and do malfunction from time to time – meaning your recycler and cash management process 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 the excessive time that it takes. Instead of achieving the operational efficiencies that you previously gained, you are faced with the inevitable grind, effort, staff distraction and added pressure, not to mention errors associated with counting by hand.
It’s time for ‘Plan B’!
While you wait for a software or mechanical technician to visit your store 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 reliable back-up plan for managing their cash handling procedures.
For more than 40 years, Cashmaster International has been at the forefront of count-by-weight cash counting technology. Designed for intensive use in challenging retail environments, the Cashmaster One range of cash counting devices constitutes the perfect Plan B – fast, easy to use, reliable, very inexpensive to put in place and zero maintenance requirement!
Maintain a high level of efficiency
From start to finish, Cashmaster One™ devices are the fastest on the market and will accurately count a typical cash drawer and print a receipt in less than 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, with its compact and ergonomic design makes it both easy to use in almost any setting and small enough to store in the tightest of spaces. With its added portability, and inclusion within one neat self-contained unit without wires, many of our customers use the device around the store which makes it great for carrying out quick spot checks and audits as well as standard cash counts and pick-ups. Combining the Cashmaster One™ in partnership with recyclers creates a much more integrated and rounded cash management solution.
Will you miss out on integrated reporting?
Not at all. Cashmaster One™ devices can store your count data and quickly display or print a range of reports. There are several different options for transferring data quickly and directly from the Cashmaster One™ device to your own cash management system.
With the Cashmaster QR-Link, one of the latest enhancements, the transfer does not rely on access to your Wi-Fi network, and the security of your systems are never compromised.
Cashmaster One™ devices are so easy to set up and use, and they make an ideal back up device should your recycler break down. Much like using a smartphone, there is no steep learning curve for your staff or associated training costs. With a few minutes of simple instruction, managers and staff will be ready to go.
Remember, when your cash recycler calls in sick, bring out the Cashmaster One.