With high volumes of cash coming into a casino every day, it’s no surprise that cash management costs are astronomical! Many casinos operate 24 hours a day and can have as many as 100 cash registers open at the same time. With the continual flow of cash throughout the casino, cash management has to be taken seriously. But should the cost of properly handling cash be extremely high?
Investing in automated cash management technology allows casinos to make the most from processing large volumes of cash. Adding technology to your cash management process gives you the chance to increase your security, efficiency, and accuracy, all of which provide your casino with savings.
Here’s how full cash room automation can save your casino money:
Reduce the Costs of Handling Cash
Have you considered how much money you spend on handling cash? You may not realize just how much you spend on cash handling each month. With multiple cash registers operating at the same time, the costs can easily spiral out of control.
Manually sorting, counting, and balancing each cash register takes both valuable time and man power. Full cash room automation takes over cash handling costs from your staff and completes them much more efficiently, providing you with savings in time and labor costs.
The amount of cash held onsite at a casino is tempting for potential thieves. It’s crucial to maintain the security of your casino to protect your customers, staff, and your cash. Without full cash room automation, your staff members may have to transport money across the casino floor, leaving them vulnerable to theft. Likewise, your cash room may not have the same level of integrity if you have not yet updated your cash management process to include smart safe technology.
With cash room automation, you have access to technology that completes the entire cash handling process for your staff while also providing additional security safeguards. Automation restricts access to your cash to select staff members who have the correct identification. Increasing the security of your business provides you with savings and prevents potential losses from occurring.
Focus on Efficiency
While it’s vital for businesses to increase efficiency throughout their organization, cash management should be a priority. Adopting technology and procedures that prioritize efficiency will reap the rewards in operational savings. If you value the productivity of your casino full cash room automation offers a complete solution to optimize your cash management.
Enhance Cash Flow
While you may think that cash flow isn’t a problem for casinos simply because there is a continual supply of it in and out of the doors, the reality isn’t that simple. Any cash that is used during transactions must be processed and recorded correctly before it can be used again. Automation allows casinos to recycle cash back through the business almost immediately. Enhancing your cash flow with currency recyclers means you will have less frequent bank deposits and can save on cash-in-transit services.
Streamlined Management and Reporting
Automating your cash management gives you access to streamlined cash management and reporting. Your staff will no longer have to spend valuable time gathering data and generating reports. With automation such as currency recyclers and smart safe technology you will be able to access up-to-date and accurate reports at the push of a button. You can then save on management labor costs that would normally add up with monitoring cash handling. Full cash room automation provides casinos with tools to save on cash management.
Source: Robin Steinberg