Is it possible to have too much cash? When it comes to branch cash inventory, the answer is a resounding yes! Cash is costly to count, sort, store and manage. These challenges are compounded by limited visibility into inventory positions by denomination due to sole control cash custody policies. As a result, branches routinely order more cash than needed or regularly cross-ship cash to avoid the awkward scenario of running out of cash for customers and members. Cash courier services are expensive and interrupt the workflow of the branch. There is a better way!
The key to overcoming the challenges posed by sole-control visibility constraints is to make your inventory digital. This allows cash managers to see detailed inventory positions in real time. Of course, digital visibility is only as good as the data input – manual data entry leaves room for ongoing error. By leveraging teller cash recyclers and their reporting capabilities, cash managers leverage accurate, machine-driven data when placing orders and optimizing their branch cash footprint. With cash stored centrally, instead of in disparate sole-controlled teller cash drawers, visibility and order accuracy is greatly improved.
Simplify for Greater Results
The figure below shows the process simplification differences between manual cash handling (figure A), to semi-automated cash handling (figure B), and full automation (figure C).
If you want to learn more about the cash management benefits of teller cash recyclers, give us a call at 877.545.5558 or email us at [email protected]to setup your free branch cash automation analysis!