Cash handling continues to be labor intensive and expensive, lacking efficiency.
Retailers and grocers today continue to practice the same tired manual processes to handle cash. Some businesses have cash rooms where labor is dedicated to preparing and reconciling employee cash tills, balancing the in-store cash funds and POS records, preparing additional change funds, re-rolling loose coin, and preparing bank deposits. Some retailers even delegate their store managers and assistant managers to accomplish these daily tasks on top of their regular management duties. While there may seem like nothing wrong with these cash management processes manual cash handling unnecessarily preoccupies in-store labor every day you are in business.
Consumers place great emphasis on customer service in selecting which stores to choose. Today’s technology trend within the industry focuses on products that allow retailers to improve customer interactions and the overall customer experience, while reducing store expenses. The overall goal of cash room automation is to reduce cash handling expenses and increase efficiencies. Your stores’ dedicated cash handling labor could be better utilized to improve overall customer interactions and experience, or any other duties that helps build your core business and brand and attract repeat customers. Many retailers have observed an increase in continuous operations’ profits by reducing their stores’ cash handling labor expenses.
The ultimate goal of back-of-the-house automation is to streamline cash handling operations, without sacrificing security or jeopardizing profits. When more than one employee is required to count an employee bank, cash accountability is at a minimum. With so many hands touching the cash, you put yourself at risk for internal theft, balancing discrepancies, and employee safety. Cash handling labor and cash shrinkage are expenses that can drastically reduce profits from continuous operations. To start a shift with MIMO, the cashier only needs to enter a PIN code or swipe and access card. Coins are dispensed directly into their till tray, and the correct number of notes are dispensed directly to the cashier. This also applies to shift-ending processes. MIMO will accept both notes and coin simultaneously, and both processes will be completely accounted for.
– reduce cash-handling labor
– Eliminate manual counting of notes and coin
– Increase cashier productivity
-Enforce full employee cash accountability with MIMO’s detailed transaction reporting
– Enjoy user-friendly software with makes POS balancing a breeze
– Focus your resources on building and growing your core business