Cash handling in entertainment venues demand the streamlined technology that only smart safes can provide.
As a cashless culture seems to loom in the not-too-distant future, it looks as though entertainment venues and gaming venues might be among the last to give up operating on a cash-based system. In many ways, these venues are synonymous with cash, so giving it up would not be an easy transition.
Even bowling alleys and miniature golf parks operate on cash transactions, especially those located in smaller towns and rural areas with less competition as the cities have. Is there a chance these smaller retail businesses could someday go cashless?
Busy entertainment venues and gaming venues rely largely on cash payments, whether it’s in the gaming area, at the bar, in the restaurant, or in the gift shop. These are places where a high exchange of cash is commonplace. Transactions at these points of purchase should be quick and accurate, but these areas are vulnerable, making it easier for human error, counterfeit money, and an accumulation of cash in the tills, to be targets for theft.
The cashier’s area of gaming and entertainment venues operates as the central hub for other business units, therefore, exposing it to a greater risk of hold-ups and theft. In addition, stricter regulations in the gaming sector now require greater documentation and audit trails for transparency.
There’s also the challenge of relying on employees to manually count large amounts of money, which can be extremely time-consuming, labor intensive, and error-ridden. Manually handling the cash also makes it a lot harder to track thefts or discrepancies.
Managers in these revenue-growth environments must handle significant amounts of cash, while maintaining accountable records and reporting. Effective cash management is the smart way to combat loss, while improving accountability, and finding these efficient, secure cash handling solutions is rapidly becoming a top priority.
So, what’s the winning solution?
AMSEC CashWizard Smart Safe Technology
Winning is everything in the gaming industry and putting AMSEC CashWizard Smart Safe technology to work for you in this area is certainly a winning solution. Using smart safe technology can eliminate human error and other discrepancies and increase accuracy many times over. With smart safe technology your money is counted and tracked, ensuring more effective profit margins. Deposits are screened to identify counterfeit notes. Counterfeiting is a real problem and accounts for about $70 million in bogus money circulating in the U.S.
The AMSEC CashWizard Smart Safe offers the advantages of the MEI SC Advance bill reader. The advanced recognition system with transmissive sensors sees all the way through each note contributing to a higher overall acceptance rate for legal notes while increasing security against fraud.
The sensors use a full spectral analysis with multiple wavelengths of light to look completely through each note and validate its authenticity. And even if the notes have been worn or damaged, these advanced recognition algorithms facilitate the industry’s highest acceptance rate.
Besides being easy to learn how to use, CashWizard Smart Safes are incredibly durable, with dead-latch locking mechanisms and anti-pry doors. The web-based software management provides real-time visibility to daily deposits, alerts, and reports.
Contact us to find out more about how the innovations and technology of AMSEC CashWizard Smart Safes will save your entertainment or gaming business money and time.