College campuses are teeming with cash transactions for food, books, and more, but is cash management for college venues as sound as it could be?
On college campuses these days, you might think there’s little need for cash. After all we live in an almost cashless age where debit and credit cards seem to rule. However, believe it or not, cash is still the preferred way to pay by most people, including college students, especially for on-the-go and in-store purchases less than $20. And efficient cash management for college campus venues can be more secure with a smart safe.
Within a 24-hour timeframe, college students may interact with ten or more points of sale that take in cash. In fact, almost 90 percent of college students, carry cash. They may grab a coffee before rushing off to class, or pop in the bookstore to get what they need for a new class. There are numerous ways a small cash transaction might be needed on any given day. And as college and universities compete to attract more students, there are even more retail stores and amenities opening up on campuses.
Football stadiums and basketball arenas are also major attractions and hot spots for cash transactions. Any sports venue on or near a college campus is usually brimming with excitement and pockets-full-of-cash. This scale of cash handling can present problems for college administrators with concerns of how to reduce the costs of handling cash and the issues that go along with it, such as labor, internal theft, banking fees, and in-transit fees.
The good news is there are safer, smarter ways to manage the cash taken in at these various campus events and locales. Starting with a plan for how cash is handled provides guidelines for the staff and employees who manage, receive, handle, and safeguard cash.
The most prominent risk is usually human error and / or internal theft, so reducing the number of people handling cash is a good first step. Establishing a secure cash transfer process is also extremely important. A proven way to improve cash handling is using smart safe technology. Smart safes protect cash and help minimize the availability of large amounts of money at any one campus location.
AMSEC CashWizard Smart Safe ensures greater security, transparency, and reduced risk. The advanced system provides automated bill counting and deposit functions as well as sophisticated reporting capabilities.
AMSEC’s high level smart safe technology enables campus venues to realize enhanced efficiencies of cash management. And the advanced reporting functions and dashboards provided by AMSEC CashWizard Smart Safe can help administrators keep a closer watch on overall cash business conducted across the entire campus.
The AMSEC CashWizard Smart Safe System has centralized management connecting safes via a cloud-based platform and it is accessible from any internet-capable device. It provides easy-to-use customer managed, remote administration of users and automated reports. The user-defined email alerts allow exception-based notifications. Web-based software management provides visibility to critical business information including daily deposits.
AMSEC CashWizard Smart Safe features include:
- Superior build including dead-latch locking mechanisms and anti-pry doors
- Multi-Door Configuration with up to four single or bunch note bill readers
- Spill–resistant keypad holding up to 500 users with easy onsite or remote user administration
With its advanced analytics and legendary production quality, the AMSEC CashWizard Smart Safe is leading a revolution in the smart safe industry focused on empowering customers, cash-based businesses, and institutions everywhere.