How Smart Safe Data Can Contribute to a Successful Retail Business

The level of competitiveness within the retail industry is arguably the highest it has ever been. To quickly react to buying trends, competitive maneuvers, and other variables critical to their businesses, retailers cannot depend solely on subjective indicators and gut instinct. They require hard data to make effective business decisions. Many tools are available to a retailer to harness the data they capture on a daily basis. One such tool is a smart safe. Retailers who aren’t effectively leveraging a smart safe are missing out on one of the most valuable sources of daily information that can help a data-driven retail business succeed.

Smart Safes Provide a Rich Source of Data

In retail, whether you’re a business owner or a treasury, loss prevention, HR, or operations professional, critical decisions often need to be made in order to maintain a competitive edge. Smart safes not only count, protect, and distribute the cash a retailer needs to run their business, they can also be a rich source of fiscal data – data that can help substantiate critical decisions.

Smart safes can be programmed to create any number of custom reports. These reports can be accessed locally or remotely and can be produced on demand or via a pre-programmed schedule. They also provide the data that businesses can leverage to track progress and trend patterns over time. This empowers retail executives to make business-critical decisions in areas such as in-store policies, banking relationships, CIT pickup frequency, labor usage, store float requirements, and more.

Tidel Smart Safes Produce Actionable Reports

The reports a Tidel smart safe can generate are too numerous to list, however, they generally encompass the following categories:

  • Accounts – Typically lists all smart safe assigned accounts, such as manager, cashier, courier, and their respective privileges
  • Contents – Lists the contents of the smart safe and any connected peripheral
  • Transactions – Lists particular transactions, by user, for a given reporting period – such as a business day or shift
  • Summary Report – lists all transactions for all users for a given time period

To take advantage of the immense amount of data a Tidel smart safe creates on a daily basis, many Tidel channel partners incorporate their own dashboards that consolidate the data into one easy-to-read interface. The dashboards can be customized to meet individual business requirements and can be accessed remotely – giving retailers a bird’s eye view into all smart safe activity from one console.

Contact Tidel and Start Generating Actionable Data Today

Smart safes can produce the data a retailer needs to make business-critical decisions, both today and in the future. To learn more about how Tidel smart safes can help your data-driven retail business thrive, visit tidel.com/smart-safes/ today.

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