There’s plenty of money on the move this time of year, with the December holidays inching closer by the day... Not to mention those enticing cash bonuses so many workers receive!

Unfortunately, with the spike in business activity, we also see a steep climb in crime. Although the South African Police Service’s 2023/2024 third quarter financial year statistics (October 2023 to December 2023) show a decline in instances of cash in transit (CIT) robbery (down by 11 counts), it also indicates increases in other areas, such as commercial crime (up 17,3%). As a rule of thumb, more criminal incidents occur during the period leading up to and throughout the festive season.

To ensure cash safety and an incident-free season for you, your customers, and your employees, we’ve compiled a simple yet highly effective five-step action plan. Start implementing it ASAP to benefit during December and beyond.

After all, protecting your business against the risks of handling cash is the gift that keeps on giving!

How to Protect Your Business Beyond the Holidays

How to Protect Your Business Beyond the Holidays

Criminal activity never stops, and your business is vulnerable year-round – not just during the holidays. Ensure around-the-clock  cash safety and prevent plenty of headaches by ensuring your business adheres to the following five criteria:

1. Secure All Income

Perhaps the most obvious solution, Cash Security  Step 1 is to – you guessed it – see to the secure storage of physical income.

Our fully customisable Protector devices are the comprehensive answer to this dilemma. Each Deposita cash deposit machine not only accurately processes funds, but also securely stores them on-site. This helps you reduce the odds of human error and theft.

• • • • A drop in instances of theft and skimming
• 24/7 on-site monitoring and tamper notification
• The need for less frequent CIT collections while streamlining the pickup process too
• Real-time access to remote currency updates
• Increased financial reporting accuracy

2. Implement Internal Controls

Cash Security Step 2 calls for you to establish internal controls.

“But what are internal controls?” you may ask. Simply put, they are processes and procedures businesses implement to increase accountability, decrease fraud, and promote financial data integrity.

As an end-to-end system, it will be unique to every organisation, based on its specific needs. But it will always address risks, while also cutting down on excess costs and unnecessary efforts. Ultimately, internal controls improve the accuracy of accounting and other financial data.

• Benefits of embracing internal controls include:
• Guaranteed compliance with laws and regulations
• Fraud prevention
• Puts a stop to staff stealing company assets
• Improves operational efficiency
• Increases the punctuality and precision of financial reporting

3. Ensure Adequate On-Site Security

Keeping your business’ money safe requires more than a state-of-the-art cash management device (although that already helps a great deal!). Cash Security Step 3 calls for you to invest in additional safety and surveillance systems.

Hidden cameras, silent alarms, an active subscription to a private security company… These are all excellent precautions to protect your cash and other assets, such as inventory, from theft and pillaging.

On top of combating criminal activity, visible security measures put your employees and customers at ease. In turn, this should improve business as both groups feel like they’re a priority to your enterprise, being well taken care of and respected in-store.

4. Educate Employees

A well-informed employee is a capable employee. So, it should come as no surprise that Cash Security Step 4 is all about staff training.

It’s crucial that employees whose responsibilities include money management undergo training in accordance with your organisation’s cash handling policy. This empowers them to do their job well, significantly increasing accuracy and reducing financial discrepancies. It ensures all funds are properly secured too, avoiding misplacement. Conduct frequent audits to encourage honesty and upskill your employees.

Did you know? When you invest in one of our tailored Protector devices, your staff will receive rigorous training and custom operations manuals to ensure they’re equipped to use this new and improved cash management solution. Our Deposita Support Team is available to you at any time too, so feel free to get in touch whenever you need assistance.

5. Invest in Insurance

If you’ve been running your business incident-free without public or general liability insurance, you’re lucky. But you should definitely look into this essential coverage before the worst comes to happen. This leads us to Cash Security Step 5: protecting your enterprise against risks and lawsuits that may arise throughout daily operations.

Depending on your industry, either public or general liability insurance might be more suitable to your needs. Public liability insurance is ideal for businesses that deal directly with the public (think retail), while general liability insurance is more comprehensive and shields your business against a greater variety of risks. Whatever the case may be, you certainly don’t want to get caught without one or the other when tragedy strikes, like a business robbery during which a client gets hurt.

Did you know? Deposita Protector devices feature enhanced security and comprehensive risk cover from the moment money is deposited into the automated banking machine.

Deposita Makes Cash Safety Simple

Deposita Makes Cash Safety Simple

Simplified, smart, and streamlined, that’s our cash safely systems in a nutshell. Best of all, they’re only a click away, so you can enjoy a thriving business 365 days of the year, not just around the festive season!

Contact our Sales Team today to discuss your needs and allow us to help identify the best Protector for you: deposita.salesadmin@za.g4s.com.