Cash management is an integral part of the retail, financial, and gaming business worldwide. The hard work of developing a business ends only in cash or coins, especially for small businesses like laundromats, corner shops, vending machines, and car washes. Because customers pay in coins and change notes to coins, these businesses need to handle many coins daily. Rather than wasting time counting these coins, the business owners can use the time productively for developing the business. Here, the coin sorter comes into play for sorting and counting thousands of coins within minutes.

What is cash management?

Traditionally, cash management collects, handles, and uses cash across many sectors. But now also known as treasure management, it involves assessing cash flow, investments, and market liquidity, among others. Having the right strategies for managing cash is critical for improving staff efficiency and productivity to deliver exceptional customer service. It is essential for individuals for financial stability, and many consider it also a wealth portfolio. But even now, managing cash is handling cash with the right equipment like a coin sorter for banks, retail stores, casinos, and other businesses dealing with a huge quantity of coins.

What is a coin sorter?

Though coins are money which is the reward for the hard work and provide a livelihood for many people, counting them is an uphill task. And doing it daily as a mundane task is tiresome, leading to errors. And any such errors may cost the business dearly by reducing profits and growth. Hence, cash counters and sorters are essential to automate the repetitive task of sorting the different coins, counting them, and packing them to deposit in a bank or other places. They are available in many designs, styles, sizes, costs, and functions to enable sorting, counting, and packing easily and fast.

What are the benefits of a coin sorter?

For coin businesses needing to handle a huge quantity of cash, a coin sorter is a wise investment to get the best ROI or return on investment. With the ability to count thousands of coins within a few minutes, they have many benefits, including others.

• Improves business by making change for customers by giving currency notes not to waste their time and build relationships

• Reduces the time for the repetitive task of counting thousands of coins, leaving the mundane task to the machines

• Minimizes the risk of errors to not lose the hard-earned money because of negligence and doing the boring work of counting coins daily

• Helps to be healthy as there is no harm from contacting dangerous microorganisms in the coins while counting them

•  Improves productivity as the time taken off from the tedious transaction of coin counting can be better used to provide better customer service.

The above facts and benefits will convince anyone to buy the best coin sorter for managing the cash effectively and safely.

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For the consumers looking for more efficient and convenient ways of doing banking processes, Interactive Teller machine is the answer. It has presented a whole new way of handling customers and making them more interested in banking operations. Modern banking institutions are increasingly adopting video remote tellers, also known as interactive tellers. 

These are real-time experience machines that enable customers to interact and perform banking operations at the same time. For the convenience of customers, these machines are fitted with a touch screen, handheld phone, and buttons. 

Functions of an interactive teller machine 

• Deposit bills and checks
• Perform card-less transactions
• Cashing checks for bills
• Perform fund transfers 
• Opening new accounts
• Order debit card replacement
• Place inquiries and perform CD renewals
• Make credit card payments

Other popular names for Interactive teller machine

• In-Line Teller (ILT)
• Personal Teller Machine (PTM)
• Teller Assist Unit (TAU)
• Automated Interactive Teller (AIT)
• Video Teller Machine (VTM)

Benefits of interactive teller machine for customers

• Consumers can efficiently perform ID verification if their credit card is stolen or lost.
• The teller machine can dispense any amount of cash, including any denomination of bills. It also helps in Cash Automation. 
• Users get the convenience of human touch and real-time interaction, which is nowhere available with ATMs.

Benefits of interactive teller machine for financial institutions

• The interactive teller machine enhances the user experience by making the banking operations more convenient. 
• The availability of banking support gets extended. Customers can even perform banking operations at odd hours.
• With the usability of the interactive teller machine, the employees can be freed and made available for high-level operations.
• As the machine enables 75% of banking operations without the involvement of banking professionals, it saves a lot of costs associated with them. 
• Financial and banking institutions can go global, defying the geography and hours of banking operations. 
• Financial institutions are capable of providing real-time connectivity without the risk of offline incompatibilities. 
• The teller machine decreases the cost per transaction and saves a fortune for financial institutions. 
• Being modern and competitive technology, the machines give financial institutions a pace ahead of the competition.  

With so many benefits for financial institutions and their consumers, the Interactive Teller machine is a good investment. Contact www.bankersequipment.com for information. Bankers Equipment offers a wide range of equipment solutions for banking institutions, casinos, and retail units. 

Handling a retail business is quite a job. From managing product inventory to taking care of cash management, you need to do everything single handily. But here good news for you – a Currency Discriminator can ease the hassle of cash management. This revolutionary equipment has sent waves of relief to retail business owners. Let’s see how this equipment helps with cash management. 

A currency discriminator is an electronic device that helps count the cash and identifies the difference between currency denominations. This device is an up-level version of a currency counter with a more advanced feature. The device gives you a proper breakdown of denominations for a pile of mixed bills. 

Therefore, at the end of a successful day at the billing counter, you don’t need to worry about counting the bills and segregating the various denominations received. For Retail Cash Management, it is one of the best technological innovations made to date. 

Benefits of owning a currency discriminator in retail business 

This is a small but powerful device for all your cash management issues. But if you are still not convinced, here are three benefits to pay attention at. 

Saves money and time

Often retail businesses keep an extra staff for cash counter and management. The responsibility of this person is to collect the cash, count it and separate different denominations and keep track of data. But once you make use of this device, you need to pay extra to your staff. It counts the money within a few minutes, tells the denominations received, and often keeps records for the end month audit. 

• Eliminated fraud

There is always an open risk of theft and fraud when dealing with money. Although all retail businesses have trustable employees, time and tide can change quickly. Therefore, a currency discriminator is the best solution for cash management. It is devoid of theft and fraud. The best part about the machine is – it also discriminates the counterfeit bills. 

• Reduction in counting errors 

Humans are prone to error-making while counting, but machines are not. You can depend upon the count of the device without any doubt. These currency counter and discrimination machines are error-proof and tested. Therefore, purchase the machine now instead of spending hours counting bills and separating them based on denominations. 

Currency Discriminator – A great investment in business 

As a business owner, you regularly make an investment for the betterment of your business. So, if you deal with a lot of cash daily, invest in a Currency Discriminator. It will streamline your cash management. To learn more about the device and purchase it, visit the website www.bankersequipment.com.  

Cash's availability, ease of use, and confidentiality are just a few of the reasons why it is still a strong pillar in the current marketplace and the favored payment method for millions of people.

To stay up with a changing corporate world, the technology we use to handle and manage cash is fast expanding. Cash management is a particularly popular area, and many organizations are making use of it to reap a variety of benefits-

Managing Cash In an Effective and Cheap Way

"Although more consumers are adopting online payment alternatives, there is still a big percentage of buyers who prefer to use cash for a variety of reasons," Saunders points out. "Cash isn't going away anytime soon, so shops must keep this payment option available to meet demand."

As a result, it's critical for companies to improve how they manage their cash flow at the money counter.

"Where cash automation technologies come in," adds Saunders, "retailers must balance the need to allow cash payments with the need to streamline their operations and ensure the business can be run securely."

Cash mechanization brings the operations and maintenance comfort of electronic payments to physical money, comparable to the advantages of contactless payments, by greatly reducing manual supervision and the possibilities for mistakes in payment processing.

Putting Cash Automation to Work

In practice, how do cash automated systems look?

These innovations, including digital payment choices, automate portions of money management. Cash automation is still in its early stages, but cash counters and discriminators, cash recycling plants, and intelligent safes are some of the most typical uses

"The management of currency bills and coins will be revolutionized by cashless automation technologies," he believes. "Shop owners who predominantly run cash-based enterprises are currently devoting a significant amount of time to cash duties."

When compared to counting and categorizing money by hand, the length of time saved by a machine that can number and categorize money in minutes is enormous. This is not even taking into account the improved precision.

Do you require assistance regarding your cash automation process at your money counter processings, feel free to connect with Bankers Equipment today and have your choice of cash automation solutions right away.

Organizations of all types are embracing cash automation employment manual tasks in the age of digital transformation, then diverting the time and energy saved into offering differentiated user experiences. This trend covers a lot of ground when it comes to cash handling.

Bankers Equipment Service considers that to give real service you must add something extraordinary to your business. Thus, they provide the highest level of service, products, and solutions that enable the customers to prosper. They meet or exceed customers’ expectations while maintaining a positive environment that provides success for the team members and the company. The range of innovative, proven and compact Cash Counter & sorters of Bankers Equipment Service are designed for counting and reconciliation tasks in both front and back-office environments, in banking, across retail, and in the gaming sector.

Bankers Equipment Service has now expanded the business within the following industries: Financial, Casino, Retail. Customer satisfaction is their main goal. At Bankers Equipment Service, first, they take the time to learn about your business, pain points, and goals. With this information in hand, they identify the right technology to meet your demands. In this way, they ensure that your business needs are addressed and problems are effectively solved. 

Let’s take a look at the three-step approach Bankers Equipment Service follow:

• Identify the right solution to fit your unique needs.
• Educate you on how to best use your equipment.
• Maintain equipment for longer lifecycles.

Need the best Retail Cash Management solution? If so, you can count on Bankers Equipment Service for it? The idea behind Retail Cash Management is to automate the entire cash handling process, from the point of sale to bank deposit. By switching from manual cash handling to cash management, a retail business will improve in several areas. 

Bankers Equipment Service is dealing in many products and services viz. ATM’s, Online Teller Machines, Remote Cash Capture, Document Management, Payment Systems, Cash Recyclers, Lobby Self Service Coin, Coin & Currency Sorter, Strategic Branding, FISASCORE, Backup/Disaster Recovery, IT Security, Ticket Redemption Kiosks, Remittance Process and many more. 

Bankers Equipment Service provides a wide variety of quality document management solutions including check encoding and audit equipment, teller printers, folders, joggers, shredders along check and document scanners. In casinos, they provide “best of breed” ticket redemption. Their innovative technology automates your cash chain - from POS to the Cage through the audit process to the Bank.

The payment dealing out way out captures images and data from payment coupons, captures MICR data from the accompanying checks, electronically interprets the handwritten or printed amounts from the checks.

For further details about Retail Cash Management please visit www.bankersequipment.com. 

In the financial services sector, the term "cash management" is widely employed. Everyone, from the CEO to the janitor, understands the need for proper cash handling and money management. The necessity of cash handling, on the other hand, can be overlooked in the retail industry.

ARCA's Jeff Hauser, marketing professional, and retail market expert highlighted a few of the reasons why cash handling is so critical.

"Cash processing is critical in the retail industry," Hauser added, "especially as competition and the urge to differentiate through customer experience grows." "It's vital to establish loyal customer bases by focusing less on payment administration and more on customer engagement."

So, what can go wrong if you don't handle your money properly? Here's what you should know:

Retail’s Most Common Issues

"Retail Cash Management" is defined as the process of collecting and disbursing money in a firm through a cash counter. This encompasses teller interactions and ATMs, to name a few instances at a bank. Cash handling over the cash counter in retail includes everything from the point of purchase to day-to-day managing money.

"Managing cash increases efficiency and security."

Before we go over the ins and outs of successful cash handling, it's important to understand what can go wrong if you don't have it. The following are three prevalent issues in the retail industry:

Inadequate Thorough Research

Due diligence is one of the most important reasons for cash-handling procedures at the cash counter. Do you always know where your money is? Do you have any idea who has access to it or where it's going? You'll have these answers if you manage your money well. You could quickly run into issues with book-keeping, fraud, theft, errors, and cash flow if you don't have it.

There Is No Paper Trace

The lack of a paper trail is the second typical issue. Retail Cash Management guarantees that you are aware of where your money is and who has access to it. On the other hand, ineffective systems will make it much more difficult to detect and correct issues.

This implies you won't be able to trace a discrepancy in your safe back to its source if you detect it at the end of the day.

Faults in Security

The third issue that arises frequently is one security. Retail Cash Management, whether through regulations or technology, can help your company become more secure.

You'll have more control over your money, including who has access to it, which will help you avoid fraud, theft, and security breaches. Your company's financial security may be jeopardized if you don't handle cash.

If you require any assistance regarding your bank’s cash counter retail cash handling, then please do not forget to connect with Bankers Equipment and get your retail cash management with ease today...

While these are only three frequent issues, proper retail cash management will help your organization in a variety of ways, the most important of which is increased efficiency, security, and convenience.

Cash Automation refers to the process of counting, dispensing, and managing cash using specialized technology in order to improve accuracy and lower costs associated with manual cash handling. The following are some examples of common products and solutions:

Cash registers

A currency counter does precisely what it says on the tin. When compared to manual counting, the advantages are faster and more accurate cash counting. High-speed single-pocket counters can value count a variety of currencies while also detecting counterfeit notes.

Sorters of money

A cash sorter can count mixed denominations in one pass and provide a value count and denomination breakdown. Two or more pocket machines continuously process currency and can separate counterfeit bills into separate pockets.

Cash sorters with three or more pockets can count and value mixed currency, sort by denomination and orientation, and detect counterfeit notes.

Recyclers of cash and coins

The entire cash cycle is automated with a cash and coin recycler: accepting and dispensing cash, securely storing banknotes and coins, and tracking cash on hand. Transactions, reconciliations, and deposit preparation are all sped up thanks to the technology in these machines. Provisional credit and CiT (Cash in Transit) options are available to customers who use cash recyclers.

What are the advantages of your company?

As a cash business owner, you may see fluctuations in your cash on hand at any time of day, week, or month. The cash that is securely deposited into your cash and coin recycler is made available to you using cash automation Insight software and provisional credit, which is daily credit issued to your account by your bank.

Since the first credit cards were introduced in the early twentieth century, we've been hearing about the coming "cashless society," but cash is still around. Even with an ever-growing number of smartphone-based digital payment platforms (e.g., PayPal, Apple Pay) and cryptocurrencies, cash appears to be here to stay.

Low-cost and time-saving

Cash automation technology is being used by businesses of all sizes to improve security and accuracy while also saving time and money. Consider the advantages of cash automation if your business relies heavily on cash transactions. Cash transactions typically involve small amounts of money, making it even more important to spend as little time and money on cash handling as possible.

Make a phone call to the cash-handling experts.

From the cash automation experts at Bankers Equipment, learn how your business can benefit from cash automation technology. We've been assisting businesses for over a century, and we can help you find the right cash handling and storage solutions for your company. For friendly, knowledgeable service, call us at 952.890.6661 • 888.890.6661, or stop by our showroom.