Organizations that deal with high volumes of cash and manage it via traditional methods usually require a high amount of ‘float’ – or cash needed to run the store’s daily operations. Having a high float subjects the store to unwanted costs and risks, both of which can be greatly minimized with an automated solution, such as a cash recycler.
Cash recyclers help automate the cash handling processes of organizations that deal with high cash volumes, enabling them to achieve greater efficiencies and transparency to their day to day operations. With cash recyclers, funds deposited can be reused for the next shift or the next employee checking in. This greatly reduces the amount of float required, which minimizes the risks and costs associated with having large amounts of cash in the store at any given time.
Tidel offers a broad portfolio of cash recyclers that help retailers gain a better handle in the ways in which they manage their cash. Substantially reducing cash float is just one step towards a retailer gaining a competitive advantage in today’s hotly contested retail marketplace.
Watch the video above to learn more about a Tidel cash recycler can minimize cash float for a retail organization.