Many businesses still rely on outdated, manual cash-handling processes, leading to inefficiencies, errors, and unnecessary risks. From reconciling cash drawers to managing change orders, these traditional methods can slow down operations and burden staff. Fortunately, there’s a better way.
With solutions like American Security’s smart safes and the innovative ChangeExchange® program, businesses can streamline their cash management from end to end. These technologies not only help automate tedious tasks but also give you greater visibility, accuracy, and control over your cash operations, freeing up your team to focus on what really matters.
Did you know that ChangeExchange® saves $100 to $150 per store each month in banking fees?
(Source: NACS, 2023)
Ready to see how it works? Keep reading, and we’ll dig into the details.
What a Typical Change Order Process Looks Like
Before we dive into how ChangeExchange® improves cash management, it’s important to understand what the traditional change order process often looks like, especially for businesses without the benefit of automation.
In most retail or food service environments, a manager or employee must monitor cash levels across tills and safes. When smaller denominations run low, a change order must be placed, usually involving multiple manual steps:
- Manually tracking current cash levels and predicting future needs
- Calling or logging into the bank portal to place the change order
- Coordinating a time for a manager to pick up the change or arranging a courier dropoff
- Verifying the order’s accuracy
- Reconciling the order with the daily deposit or register totals
This manual process introduces numerous inefficiencies, not to mention the potential for human error or missed steps. If a manager is unavailable or makes a miscalculation, the store could end up short on change, disrupting customer transactions and daily operations. Over time, these interruptions and administrative tasks can significantly impact productivity and profitability.
That’s where ChangeExchange® comes in, transforming a manual routine into a proactive, automated system.
How The ChangeExchange® Cash Management Solution Helps
American Security’s ChangeExchange® solution digitizes and automates this process for better cash management. What does this mean? Let’s cover some of the features and benefits.
Integrate With Any Bank of Your Choice
Unlike some cash management systems that lock you into a single financial institution, ChangeExchange® offers the flexibility to work with your preferred bank. This means you don’t have to change banking partners or open new accounts just to take advantage of the technology. Change orders are initiated directly through the platform and routed to your selected bank for fulfillment, saving time and reducing friction between locations.
No matter if your business banks with one or several institutions, ChangeExchange® allows you to keep order management all in one place.
Place Change Orders Directly Through The Smart Safe
With ChangeExchange®, employees no longer need to use a computer or make phone calls to the bank. Change requests are placed directly at the safe using secure employee PINs. Denominations are selected and paid for using either recent deposits or funds already in the safe, simplifying reconciliation and reducing trips to the bank.
Once the request is submitted, ChangeExchange® automatically sends the order to the appropriate bank or courier for fulfillment, ensuring a fast, secure, and consistent process.
Pair ChangeExchange® With Capacity Alerts
To take it even further, American Security’s cloud-based software allows you to set capacity alerts, notifying store managers when the safe reaches a predetermined threshold. This helps staff make proactive decisions about when to initiate change orders, reducing the need for last-minute trips to the bank and avoiding unnecessary downtime during busy shifts.
Built-In Tracking
The same safe used to request the change also handles the payment and tracking. This removes the need for separate systems or external reconciliation. Every transaction is automatically logged and validated, providing end-to-end visibility for your operations and finance teams.
Reduce Reconciliation Hours and Errors
Because transactions are logged automatically and matched with deposits in real time, ChangeExchange® significantly reduces the time spent on reconciliation. Manual entry errors, lost receipts, and mismatched records become a thing of the past. Managers no longer have to spend hours sorting through paper trails to verify cash movements.
By removing these pain points, businesses not only save time but also lower the risk of costly mistakes. The result? Faster closeouts, more accurate reporting, and fewer headaches for your team at the end of each shift or accounting cycle.
Key Takeaways on AMSEC’s Cash Management Solution: ChangeExchange®
ChangeExchange® is a smarter, safer way to manage your business’s cash flow. By pairing your American Security smart safe with this powerful tool, you gain a fully integrated solution that reduces workload, improves security, and saves money across your entire operations.
Ready to see how ChangeExchange® could help you address your business’s needs? Reach out to a member of our team, and we’d be happy to give you a comprehensive consultation to see if this solution aligns with your organization’s requirements.