5 Steps Towards Effective Cash Management

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5 Steps Towards Effective Cash Management
Even in the presence of debit and credit cards,
every transaction is not electronic neither it
is possible. Cash is much required and its
management in retail businesses perhaps the most.
This is where we, by default, invite robbers and
thieves, giving them an opportunity to intrude
our business and loot our money, especially if
you store a lot of money inside your
organization. To beat such events, however, there
are steps, from installing state-of-the-art
commercial safes to developing employee awareness
and providing them cash management training. We
list a few here.
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Enhance Employee Awareness
Active and alert employees always bring that big
difference in your organization. This is also
true when it comes to deterring loot cases, as
robbers most likely target employees who do not
pay attention and are less attentive.
Consequently, it becomes imperative for
organizations to encourage their employees to
smile, make eye contact and greet people who
enter their organization.
3
Provide Training

• Training employees involved in cash management is
  a must for every organization. This includes -
• Awareness training.
• How to maintain compliance standards while
  dropping and minimizing available cash.
• Steps to take in the event of a robbery --
  avoiding eye contact, locking doors to prevent
  re-entry, etc.

4
Use Efficient Commercial Safes
Contemporary commercial safes are one of the best
ways to ensure effective cash management, as they
improve your business cash flow, provide
anti-theft features and let your organization
concentrate on core business issues. Modern cash
drop safes use bill validator technology and
record each and every transaction, thereby
preventing you from counterfeit bills on one end,
and letting banks assist you with provisional
credit on the other hand.
5
Take the Help of Signage

• Using signage is, again, a good strategy to
  prevent your business from robberies and thefts.
  Using effective signs, you can warn robbers in
  advance with regards to any looting attempts they
  may have in mind.
• To Everyones Safety, We Keep Minimum Cash at
  All Times
• No Bills Accepted Over 30
• Mind It, Video Surveillance Cameras in Action

6
Reduce Touch Points
Limiting or reducing the number of touch points
handling your businesss cash is an effective way
to prevent robbery attempts. You may do this by
consolidating cash collecting areas, wherever
possible. The other way to this is to use
commercial safe solutions that are fully
automated and allow electronic cash transfers.
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Conclusion
Using any possible step that optimizes your cash
management is essential, as an effective cash
management not only reduces your overall business
costs, but also lets you secure your business
against thefts and spend more time with your
clients. Given this, contemporary cash management
solutions such as commercial safes are a great
investment, especially if you are a retailer that
handles a lot of money daily.