Most medium and large-sized companies today have already implemented certain key automated processes. These include processes in accounting and distribution, sales, warehouse logistics management, financial reporting and analytical reporting. However, the modern business climate dictates new rules, and the introduction of cash automation technology is a necessary step for the successful performance of your business.

To help your business develop, you have to face current challenges and modify the business structure and processes to stay competitive in the future. Read on to know how cash automation technology can assist.

What Is Cash Automation Technology?

Cash automation technology is the process of implementing smart safes that count, validate, record and secure cash, while also calculating and monitoring cash flow in the business environment using purpose-built software and hardware solutions. Cash management solutions are widely used to increase the speed of customer service, serve to accept and dispense cash and optimise the cash collection process.

Counts Banknotes and Coins

Smart safes perform the counting process at a rate of up to 700 banknotes per minute and 1000 coins per minute, with no margin for error, displaying the results. Recycling technology can also sort fit notes and coins into denominations for pay-out purposes.

Determines Authenticity

A smart safe allows for note and coins to be placed within the validators in any orientation and have validation systems and algorithms that rejects counterfeit, damaged and foreign banknotes and coins.

With the use of smart safe technology, there is practically no need for operator intervention, and therefore, the chance for error is minimal. Thus, cash automation technology comes in handy to improve the efficiency of cashiers and accountants who work with money directly.

Benefits of Introducing Cash Automation Technology

Cash automation technology offers real competitive advantages, income protection and cost savings, even short term. Consequently, automating the cash flow control is fundamental to the security of internal operations and revenue generation.

Time-Saving Strategy

Cash automation technology combines machine learning and multiple bespoke software applications for a system that can track and perform various business processes.

This advanced technology performs routine tasks automatically instead of forcing employees to do them manually, so it saves time. This allows owners to use the data to better understand how the company operates and improve performance. Besides, cash automation means that fewer people spend time handling transactions.

Security, Protection and Data Analysis

Many large companies are increasingly concerned about implementing new technologies that increase the degree of security when dealing with monetary assets. Modern automated cash counting technology is designed to protect the device itself from tampering and create a safe environment for all employees working with large amounts of cash.

In addition, utilising proven tools to automate the cash flow of business transactions can significantly reduce the risk of theft and pilfering and help you better analyse your cash flow. Data analysis can be used to draw meaningful conclusions and adjust sales strategies to meet the needs and desires of your customers.

Growing Business Operational Efficiency and Employee Productivity

Cash automation results in budget reductions, staff optimisation, improved accounting quality and obtaining higher-quality information for management decision-making. Moreover, such systems significantly reduce the number of errors in statistical data.

Wondering if your business is a candidate for cash automation technology and smart safes? Read our blog: “10 Types of Businesses That Benefit From a Smart Safe”.

Choose Deposita’s Cash Management Solutions

Deposita works with many businesses to implement financial solutions and strategies to secure your cash operations and boost business productivity. We provide first-class, versatile cash flow management systems. Since cash automation technology comes in a variety of types, we are ready to take responsibility, help you make crucial decisions and choose the optimal device for your business niche.

The central working concept of Deposita’s Protector devices aims to reduce the risk and improve cash visibility online or via real time reporting

The essential features of the Protector system include guaranteed financial reporting, 24/7 monitoring, tamper notification, cash collection optimisation and obtaining an international standard of quality and performance. In addition, the most in-demand Protector Automated Banking Machines (ABMs) have a smart safe capacity of up to 10,000 banknotes, a validation speed of up to 700 banknotes per minute and a stacking capacity of up to 200 banknotes in the hopper.

Book a free consultation with us via our website and take a step towards your business success.