Want to Enhance Business Operations? Embrace Cash Management Technology

With a socioeconomic and political climate as fluctuating as South Africa’s, businesses face countless uncertainties daily. Given that your business encompasses years of hard work, it’s only normal to worry about what might come next: how the local election, foreign relations, global events, and beyond could affect your operations.

In February 2024, Deloitte reported that South African GDP growth is expected to double throughout 2024. As good as that sounds, a doubled growth of just 1% likely doesn’t equal significantly better trading conditions for local businesses.

Yet, with the right mindset and tools, your business can thrive amidst unpredictable circumstances. Read on for insights on how and why cash management technology helps enterprises like yours to navigate challenging times and come out on top.

Challenging Times for the Retail Sector

Statistics South Africa reported a substantial 34,6% year-on-year increase in business liquidations as of January 2024. This troubling trend is echoed by a 0,8% drop in retail trade in February 2024 compared to the same period last year, following a 2% fall in January. This marks the second consecutive month of decreasing retail sales.

The average South African consumer has also been worse off entering 2024 because of the decline in average monthly salary (i.e., R16 124 in February 2021 vs. R13 942 in October 2023). As is to be expected, declining salaries mean smaller disposable incomes, less spending money, and, subsequently, further challenges for the retail sector.

But hope is far from lost. Investing in the right avenues could make all the difference in your business’ growth or decline. In fact, cybersecurity and risk mitigation are an organisation’s most impactful investments and can profoundly impact your cash management systems.

Protect What You Can: The Smart Way to Do Business

Adopting an innovation mindset is the first step to seeing your business thrive. Add in efficiency-enhancing tools, and the benefits just keep multiplying. This is especially the case when it comes to cash management technology. Because of its far-reaching effects, it speeds up manual money-handling processes and positively impacts several other aspects of your daily operations.

We’ve been a cash and payment solution provider for over 20 years, constantly innovating to ensure we bring you the best and most effective answers to your unique business needs. Our Protector family of automated banking machines is prized for its ability to mitigate risks and boost productivity.

Our latest offerings include the Protector 1 200 sp Pro and 10 000 d-s6, both of which are engineered to help you protect your assets, people, and excel in business.

1.  Improve Your Customers’ Experience

According to Square’s 2024 Future of Commerce Report, 47% of retailers have reported an improved customer experience because of automation and technology.

With either the Protector 1 200 sp Pro or the 10 000 d-s6, you can look forward to more satisfied customers. These devices free up your staff’s schedules, doing away with time-consuming tasks like cash-up duty. This gives them more time to address customer needs, leading to a better shopping experience.

Remember, happy customers spread the word of their experience to family, friends, colleagues, and anyone who’ll listen, so making a good impression goes a long way!

2. Enjoy Greater Employee Retention…

Just like happy customers help a business thrive, so do happy employees. When you have highly competent staff, you should do everything in your power to retain them. And that’s where our next insightful statistic comes in: 45% of businesses with automation technology were found to enjoy greater employee retention rates.

As mentioned before, the Protector 1 200 sp Pro and 10 000 d-s6 eliminate tedious manual cash management processes, allowing staff to focus on more stimulating tasks, such as customer engagement.

Employees who work for an employer that invests in innovation tend to enjoy high morale. Ultimately, it persuades them to remain with the business longer, saving you hiring costs as well.

3. … And Customer Retention

Retailers that adopted technology and automation saw a 45% increase in customer retention. Again, the merit of a pleasant customer experience can’t be overstated. And neither can the consequences of a negative one.

Just as easily as customers can put in a good word for your business, they can also put in a bad one. A single lacklustre interaction has the potential to put off scores of people from supporting your business.

Since the Protector 1 200 sp Pro and 10 000 d-s6 save your staff cash management time, they have more opportunities to see to customer needs – ensuring an exceptional retail experience.

4. Increase Your Profit

The more efficient your business, the more you can expect to profit. Square found retailers who embraced automation technology saw their profits increase by 45%. When staff no longer have to spend hours manually counting and processing funds, your business saves on overheads while increasing productivity at the same time.

Both the Protector 1 200 sp Pro and 10 000 d-s6 ensure accurate financial reporting, reduce the risk of theft and skimming, and handle the financial reporting for you. Finally, you don’t need to worry about money going missing or labour-intensive tasks eating up your profits.

5. Become a More Innovative Business

Lastly, did you know that 42% of retail businesses that bought into automation and technology experience greater innovation?

Think of it this way: when you have a device like the Protector 1 200 sp Pro or d-s6, you and your staff spend less time on cash management duties. This means you have more time to dedicate to exploring innovation in other areas of your business, such as marketing and communications, sales, distribution, and beyond.

The more business functions you excel at, the greater the odds of thriving – despite external challenges.

Invest in Cash Management Technology You Can Count On

24/7 on-site monitoring, tamper notification, and the option to receive remote currency updates are only some of the features that make the compact Protector 1 200 sp Pro and its larger, more feature-rich counterpart, the 10 000 d-s6, worthwhile investments for any business.

At Deposita, we’re in the business of helping you Protect What You Can with our tailored cash management solutions. With either one of these devices by your side, you’re sure to thrive, even amid uncertain market conditions.

Contact us today to discuss your particular needs and to determine which device would be the best match for your business.