Even with the increased demand for other forms of payment, cash-driven businesses are by no means obsolete. In South Africa, in particular, cash accounts for more than 50% of all transactions. But as cash flow grows, so do the associated risks. More than 80% of small and medium-size businesses don’t succeed because they either lack or don’t understand the need for efficient cash management.

The faster cash is settled into a business account, the quicker it can be utilised for stock purchases, for the reduction of overdraft balances, reducing debt interest, or creating credit interest on the account.

Choosing the right partner that offers the right suite of solutions is now more important than ever. The main challenge is that there is no one-size-fits-all answer. At Deposita, we offer customisable solutions for different types of businesses.

Read on for our guide to how Deposita’s end-to-end cash management solutions can help your business, from front of house to back office. We’ve also outlined the step-by-step process of how we work with you and your business to offer bespoke solutions.

Which Key Business Areas Can Be Improved By Implementing a Cash Management Solution?

Deposita’s solutions are based on local and global best practices, in line with our extensive footprint. Our cash management solution is two-fold, with the hardware component (cash deposit and handling devices) forming only one part of the solution. Accompanied by our Connector software, we are able to produce a holistic solution to clients’ cash management challenges.

There are three key areas in virtually any business that can be improved with an end-to-end cash management solution:

Front of House

In pursuit of more efficiency, employees need to be free from the dangers and risks of cash handling. With our Exchangor cash recycling machines, you can speed up checkouts, remove human error and secure and track your cash flow with the best the industry has to offer. Depending on the nature and size of your business, Exchangor can be customised to provide either an assisted or full self-service option, freeing up cashier time to focus on customer experience.

Risk

Cash flow is essential to keep your business running from day to day and any means to prevent unnecessary cash loss should be priority. Cash holding at till level can be reduced by utilising one of Deposita’s smart devices rather than relying on regular banking. This reduces the risk of loss and theft by eliminating touchpoints in a business’s cash-handling processes.

Administration or Back Office

Reconciliation is critical to effective cash management as it is used to balance business and bank records. However, a key challenge in any reconciliation process is data collection. Fortunately, we can help you automate the process with Deposita’s Protector range of deposit solutions that seamlessly integrate into any business. Deposita’s Protector devices eliminate the risk of skimming or theft, and deliver accurate financial reporting. At the same time, the Protector reduces and streamlines cash-in-transit collections.

Management

Deposita’s software-as-a-service Connector platform ensures your data is as secure as your money. Instead of you having to plow through individual chunks of information, Connector gives you a helicopter view of your cash flow from a central platform. It provides a real-time view of all cash transactions conducted through your cash deposit machines, while also assisting you with cash forecasting and the planning of cash-in-transit collections.

Our comprehensive family of SaaS tools create a powerful, flexible financial transaction platform that allows you to:

• Customise reports to suit your business
• Improve efficiency and effectiveness of cash management across payment channels and operating systems
• Secure, consolidate and make your financial data easily accessible to decision-makers

More Ways Our Cash Management Solutions Help Your Business

Deposita’s end-to-end cash management solutions improve the efficiency and productivity of a business in a variety of ways:

Save Time and Money

Deposita’s automatic cash handling solutions help to save time and money by electronically calculating and validating cash to prevent long waiting periods. With built-in AI efficiency, you are able to continually optimise cash inventory and holdings much faster than manual methods.

Reduce Margin for Error

Our solutions eliminate human error and theft which reduce cash shrinkage, while reducing manual labour cost on grounds of automation technology. In addition, our solutions can help improve your working capital by optimising cash cycle monitoring and decreasing cash handling labour.

Improve Security

Improve your customers’ experience, reinforce security and track transactions from every touchpoint with a world-class cash management solution that suits your business.

Increase Efficiency

With cash management solutions in place, employees spend less time training or having to learn complicated, often outdated cash-handling processes. And built-in diagnostic systems help employees troubleshoot potential issues, helping minimise downtime for maintenance.

Provide Total Transparency

Transparency is one of the key benefits of cash management. Streamlined and automated processes give businesses faster access to their cash. Deposita’s cash management solutions provide real-time access to reporting data and account information through an online customer portal. This visibility can facilitate better decision-making, allowing businesses to more effectively manage and scale their operations.

Eliminate Downtime

In the fast-paced world of quick-serves, no business can afford downtime, whether from cash shortages, human error, or maintenance issues. Deposita can help eliminate the possibility of downtime with advanced monitoring and diagnostics. Features such as predictive maintenance and remote diagnostics reduce the need for in-person visits from technicians and support teams. At the same time, remote system monitoring and built-in wireless connectivity helps customers stay abreast of possible issues, providing a window to solve problems before they happen.

Step-by-Step Guide to Our Client Onboarding Process

Wondering what the process entails from sign-up right down to after service? Here is a short step-by-step guide of the process involved – from the moment you contact Deposita to when we install your cash management solution that’s right for your business.

STEP 1: Contact and Consultation

The first step is to schedule a consultation and have Deposita perform a custom assessment on your business to determine which cash management solution is best for your business. It’s not enough to have a money management solution that uses the latest technology if it doesn’t fit your business.

During the initial customer interaction, a detailed business review is completed including a cash flow process evaluation to determine what product will be best suited for the client.

Following the assessment, Deposita will provide you with a specific cash management solution and cost estimate to match.

STEP 2: Installing Your Solution

From initial project scope to setup, testing and approval – a smooth and efficient installation process is a crucial part of the cash management solutions we provide. Our installation expert will work with you to ensure the entire process has been conducted according to the highest international standards.

STEP 3: Training

Deposita provides comprehensive training at one of our training centres or at a location that suits you. We also provide training on-site with all staff upon installation. Plus, we’ll provide you with customised training and operating manuals to meet your business’s specific requirements. In addition, many smart safe solutions include built-in tutorials, which free up employees’ time for tasks that are more vital and profitable.

STEP 4: Payment Process

We recognise that every business is unique. Along with bespoke end-to-end payment solutions, Deposita also provides flexible device payment solutions tailored to suit your business needs. Deposita does not believe in one fit for all. We will ensure that the customer’s current and future business roadmap is taken into consideration to determine the solution to be implemented.

STEP 5: Support for the Long Run

Service shouldn’t stop at installation. Ultimately, the goal of Deposita’s cash management solutions is to help businesses save – and make – money. That involves really knowing how the business runs and asking the right questions, because no two businesses are the same. At Deposita, we pride ourselves on providing outstanding customer service and support for total peace of mind – seven days a week, 365 days a year.

Ready to Discover the Cash Management Solution That Suits Your Business?

With Deposita’s end-to-end cash management solutions, both you and your staff will spend less time dealing with the challenges money presents. Contact us to book a free consultation.