Point of Sale or Back Office Retail Cash Management Solution - Source: ARCA.com
October 26, 2016
Cash management practices in retail environments have been static for decades but a wave of technology innovations are changing the landscape. The dilemma for retailers is choosing the right solution.
There are cash automation options for POS registers and solutions designed for a back office or cash room.
How do you decide which is right for your retail business? You can start by answering these questions.
The right solution should be based on the cash volumes and patterns. Identifying patterns like start-of-day cash requirements or how much of each denomination is typically needed throughout the day will help you understand your needs for specific product features like bill mix and bill capacity.
It's equally important to recognize how much time is being spent on manual cash handling at the beginning, during and at the end of the day. An investment in cash automation buys time for your staff to spend driving sales and improving customer experience.
These questions are a good place to start and can help you narrow your options. But a cash expert to help you evaluate your cash operation is the best way to ensure you select a solution that addresses your needs.