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 For years, retailers have maintained their flow of cash using traditional managerial oversight, but this outdated method is wrought with human error.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.

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