Advantages of Using Cash and Having a Cash-Based Business

As long as your business is processing above average transactions in cash, you need a cash management solution such as CashWizard® for optimum efficiency and security.

Will we ever become a cashless society? While there’s plenty of speculation on the subject, it’s not likely to occur anytime soon. Cash is still the predominant form of payment and accounts for one-third of all transactions. According to data from Intuit, around 55 percent of small businesses don’t accept credit cards. Another survey found that 72 percent of business owners don’t prefer credit card payments, and there are many reasons for this.

Smaller retail businesses say that paying with plastic makes things more complicated. It involves more bookkeeping and you have to wait a few days for your money. Plastic also requires slow machines, which have become even slower since chip chip-enabled cards were introduced.

When your business is dollar-bill-friendly, consumers without traditional bank accounts can easily buy your goods and services. Also, putting an ATM in your business is a good way to encourage your customers to pay with paper.

For businesses that encourage paying by cash, there’s a need for a safe that can securely and efficiently handle it. Although there are different cash management providers which offer a range of services and products, technology-driven solutions are leading the pack.

Solutions such as web-based software featuring online, real-time access to reporting and account data, first-class customer and IT support, and remote system monitoring offer extensive benefits. And these can all be integrated into a seamless network that includes smart safe technology and transport services.

AMSEC CashWizard Smart Safe technology puts the task of cash management into a faster, more efficient, closed-loop cash management experience that offers greater visibility in every cash transaction.

Operational efficiency naturally translates into increased productivity. With conventional cash handling, the multiple touchpoints and time-consuming processes wear away at operational efficiency. An end-to-end approach to cash handling will save your business time and money, and lessen the need for lengthy employee training. It can also save on labor costs and greatly reduce the margin of human error.

When business runs more efficiently, cash flow is faster and improved. Automation, remote monitoring, built-in diagnostic capabilities, and elimination of touch points also greatly reduce the possibility of downtime or the need for in-person servicing.

CashWizard Smart Safe  technology will also mitigate risk. Businesses that accept cash are easy targets for thefts and counterfeiting. The right cash management solution will help diminish these risk factors.

In its own way, every business is unique, so determining the right mix of products and services is an important decision. Creating an optimal configuration that provides the most benefit with the ability to scale is how CashWizard Smart Safe technology can make the difference.

You can configure a CashWizard Smart Safe for a single storefront operation or for a large chain. Expansion peripherals, such as coin and note dispensing, tube vend capabilities, or recycling, offer even more flexibility.

CashWizard’s industry-leading cloud-based technology reduces time spent on manual counts by providing easy access to analytics, critical business data, and daily reports.

Our patented change-order system called Change Exchange®  helps you focus on running your businesses instead of running to the bank. CashWizard smart safes allow you to:

  • Streamline change-order placement and tracking.
  • Make fewer trips to the bank.
  • Gain online visibility into your cash deposits and change orders.
  • Securely store cash.

Effective cash management is a key component to running a successful business and CashWizard Smart Safe technology ensures this by providing accessible real-time data and other high performance technological advancements. Request a Demo and discover how to enhance your cash management.