Cannabis dispensaries are cash-intensive businesses, vulnerable to employee error, to cash management and reporting inefficiencies, and yes, even to theft. There’s no doubt that manual cash management systems increase the risk for loss. Successful cannabis retailers can avoid the many pitfalls of managing cash by implementing Smart Safes, Backoffice Cash Recyclers, Point of Sale Recyclers and Self Service Kiosks.
Bankers Equipment Services offers a range of Smart Safes designed for cannabis dispensaries looking for an affordable deposit-only solution. All of BES smart safes incorporate a unique, self-sealing stacking bag technology, which reduces the possibility of human error or shrink, and ensures accurate counting and secure cash storage.
Smart Safes offer counterfeit detection and anti-theft features. Choose from three options manufactured to fit your cash volume and ready to install for either back-office or front-of-the-store implementation.
Back-Office Cash Recyclers are deployed by cannabis dispensaries to accept, store and dispense cash and coins. Implementing this critical piece of equipment eliminates manual counting and keeps employees and managers on the floor serving customers. Forget about time lost to the daily count and recount cycle and manual till preparation. A cash recycler automates these processes. Dispensaries can customize a BES cash recycler to their specific needs.
POS Cash Recyclers are fully automated, customer-facing teller stations. With kiosk and in-counter units, cash is paid directly into the recycler, and change is dispensed directly to the customer. This means you need fewer employees processing payments or monitoring sales activity. Cash is collected, recorded, accounted for, and secured in the Cash Recycler until ready for transport.
CASH@POS provides an affordable and compact range of customer-facing recyclers for small retail environments. Customers pay notes and coins directly into the machine. The unit counts, stores, and dispenses change back to the customer, and some offer flexible surplus coin and note capabilities.
CASH@KIOSK is a self-service or staff-assisted kiosk solution with integrated note and coin recycling. Items for purchase could be selected on an ordering application and customers pay notes and coins directly into the machine. The unit counts, stores, and dispenses change back to the customer. Flexible surplus coin and note capabilities can be added as an option.
BES has successfully delivered automated cash management services to the retail sector and the highly-regulated gaming and financial services industries for more than 80 years. We fully understand the unique challenges the cannabis industry faces when it comes to managing cash receipts. Let us put our expertise and dedication to work for you. Call us today at 952.890.6661 or contact our experts online.
Accepting cash payments, returning change, checking for counterfeit notes, storing money, and reconciling transactions are all touchpoints that increase the risk of loss. Automation is the best way to safeguard the large volume of cash that is inherent in running a dispensary. BES offers a range of solutions that virtually eliminate the need for employees to handle money any more than necessary. Automated Cash Management means dispensary employees can spend more time selling products and less time handling cash.
Until cannabis is legalized nationally, the cannabis business is largely conducted in cash. With revenues from cannabis products expected to reach $30.5 billion this year, managing cash is a critical component to operating a successful cannabis business.