Most medium and large-sized companies have already implemented certain key automated processes. These include processes in accounting and distribution, sales, warehouse logistics management and financial and analytical reporting. However, the modern business climate dictates new rules, and the introduction of cash automation technology is a necessary step for the successful performance of your business.
To help your business develop, you must face current challenges and modify the business structure and processes to stay competitive in the future.
What is cash automation technology?
Cash automation technology is the process of implementing smart safes that count, validate, record and secure cash, while also calculating and monitoring cash flow in the business environment using purpose-built software and hardware solutions. Cash management solutions are widely used to increase the speed of customer service; accept and dispense cash, and optimise the cash collection process.
Smart safes perform the counting process of banknotes and coins at a rate of up to 700 banknotes and 1000 coins per minute, with no margin for error, displaying the results. Recycling technology can also sort fit notes and coins into denominations for pay-out purposes.
A smart safe allows for notes and coins to be placed within the validators in any orientation and have validation systems and algorithms that rejects counterfeit, damaged and foreign banknotes and coins, determining authenticity.
With the use of smart safe technology, there is practically no need for operator intervention, and therefore, the chance for error is minimal. Thus, cash automation technology comes in handy to improve the efficiency of cashiers and accountants who work with money directly.
Benefits of introducing cash automation technology
Cash automation technology offers real competitive advantages, income protection and cost savings, even short term. Consequently, automating the cash flow control is fundamental to the security of internal operations and revenue generation.
Cash automation technology combines machine learning and multiple bespoke software applications for a system that can track and perform various business processes. This advanced technology performs routine tasks automatically instead of forcing employees to do them manually, so it saves time. This allows owners to use the data to better understand how the company operates and improve performance. Besides, cash automation means that fewer people spend time handling cash.
Security, protection and data analysis
Many large companies are increasingly cautious about implementing new technologies that increase the degree of security when dealing with monetary assets. Modern automated cash counting technology is designed to protect the device itself from tampering and create a safe environment for all employees working with large amounts of cash.
In addition, utilising proven tools to automate the cash flow of business transactions can significantly reduce the risk of theft and pilfering and help you better analyse your cash flow. Data analysis can be used to draw meaningful conclusions and adjust sales strategies to meet the needs and desires of your customers.
Operational efficiency and employee productivity
The central working concept of Deposita’s Protector devices aims to reduce the risk and improve cash visibility online or via real time reporting. The essential features of the Protector system include guaranteed financial reporting, 24/7 monitoring, tamper notification, cash collection optimisation and obtaining an international standard of quality and performance. And, through software integration it makes cash management more intelligent.
Your financial data is as secure as your hard currency with Connector, Deposita’s financial software as a service (SaaS). Its comprehensive family of SaaS tools create a powerful, flexible financial transaction platform. Improve the efficiency and effectiveness of your cash management across payment channels and operating systems.
Connector Report can access and talk to any database. It’s optimised to communicate to reports that are preloaded into any SQL server engine, improving time efficiency. All reporting is tightly integrated into the security mechanism built into the family of tools that only allows specific reports and limits reports to specific client information.
Connector Vision provides a comprehensive monitoring and management platform. Functions such as transaction monitoring, remote management, information service, income delivery processing, cash management and performance assessments are key elements of Connector Vision. It carries out real-time hardware status monitoring and scientific analysis of terminal transactions to improve up-time and to guarantee the maximum availability of the terminals.
Connector Accept offers payment options to third parties for any payments through various instruments like cash, card, cheque, coins, vouchers and NFC.
Connector Collect is a comprehensive cash management system that allows for the full automation and integration of cash and ATM processing. It will also allow for the auto-reconciliation of all transactions through a three-way balancing model.
Deposita works with many businesses to implement financial solutions and strategies to secure your cash operations and boost business productivity. We provide first-class, versatile cash flow management solutions. Since cash automation technology comes in a variety of types, we are ready to take responsibility, help you make crucial decisions and choose the optimal solution for your business niche.
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