How Cash Recycling is Transforming the Retail Space

 

Cash is still very much a choice currency for many shoppers and it isn’t going away anytime soon. For years, retailers have maintained their flow of cash using traditional managerial oversight, but this outdated method is wrought with human error. Cash recycling, though not new to banks and financial institutions, is finally making its way into retail and solving the ongoing struggle of keeping track of tills. From Tech Data Systems, Scott Milliken, Vice President of Sales, explains how cash recycling can benefit retail businesses, saving time and money.

“Cash automation and automation sometimes gets a bad wrap,” Milliken said of the idea that machines take away human jobs, like that of clerks and tillers. But, he said “That’s not necessarily the case at all.”

Cash recycling, he assures, is not about getting rid of people but about using those people in a more efficient way.

“When folks try the automation they realize the benefits right away,” Milliken said. By eliminating the time consuming job of regulating cash flow, managers can be better assigned to other store duties. Not only do cash recyclers utilize employee time better, they reduce discrepancies between sales and cash, taking out the factor of human error when counting money and change.

Scott realizes not all businesses have the same cash handling needs, which is why Tech Data Systems scrutinizes the store size, assessing individual cash recycling needs. Regardless, cash handling can be made a lot simpler for businesses big and small.

“This just keeps it a lot cleaner, a lot quicker, and a lot more efficient,” Milliken said.

For the latest news, videos, and podcasts in the Software & Electronics Industry, be sure to subscribe to our industry publication.

Follow us on social media for the latest updates in B2B!
Twitter – @TechMKSL
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale

Follow us on social media for the latest updates in B2B!

Image

Latest

Vogel
Empowering Through Connection: Vogel’s Pyramid Model Approach
July 19, 2024

Mission and Impact: Vogel Alcove, a nonprofit in Dallas, helps homeless children and families through various programs and services. Pyramid Model Framework: Vogel uses the Pyramid Model, an evidence-based framework for promoting young children’s social-emotional development with universal supports, targeted supports, and intensive interventions. Nurturing Relationships and Supportive Environments: Vogel focuses on building nurturing…

Read More
MedPAC
MedPAC’s Miss on Reality of Home Health Financial Reality Results in Suggested Cut in 2025 Proposed Rule
July 19, 2024

The March 2024 MedPAC report recommending a 7% payment reduction for home health agencies in 2025 has sparked significant concern within the industry. Why is this recommendation being met with such resistance, and what does the financial reality of home health agencies look like in contrast to these federal suggestions? Are the MedPAC recommendations…

Read More
baseball game
Sixth Inning- What are the Stages Where Your Business Takes Place?
July 18, 2024

When you think of a baseball game, you might picture the crack of the bat or the roar of the crowd as a home run sails over the outfield fence. But for the Savannah Bananas, the game is just one part of the spectacle. Jesse Cole, the mastermind behind this innovative team, shares how…

Read More
skilled trades career
A Skilled Trades Career Provides a Future-Proof Path
July 18, 2024

In today’s rapidly changing job market, a skilled trades career offers a viable and attractive option, especially for the younger generations exploring alternatives to traditional college education. Recent trends indicate a significant shift in interest in these hands-on professions. On Straight Outta Crumpton, host Greg Crumpton engages in a lively conversation with Nicole Bass,…

Read More