Because of the COVID-19 pandemic, the U.S. economy has undoubtedly thrown the traditional way of business out the door. With the unemployment rate reaching 14.8% in April 2020, analysts expected it to take years for the labor market to heal. However, two historic surprises happened instead:
- Worker demand came soaring back much quicker than anticipated.
- A surprising number of workers aren’t reentering the workforce.
Cue one of the hottest unpopular duos of the year — labor shortages and wage inflation. When polled as to the reason for not returning to work, some claimed to be retiring early while others are not reentering for various other reasons. Labor shortages have put substantial pressure on retailers to continue to provide their goods and services with less help to do it.
To address these challenges, many retailers have turned to automation to compete in this new normal. Automation is certainly gaining popularity, given it was the fastest-growing segment of GDP in 2020. In fact, according to Nasdaq, “80% of business executives are accelerating plans to digitize work processes … 50% of employers are expecting to accelerate the automation of some roles … [and] 43% of the businesses surveyed for the report are expecting to reduce their workforce due to technology integration.”
Essentially, finding ways to automate the processes in a business is predicted to increase efficiency and create higher productivity, all the while relying on less employees – making it a welcome initiative in today’s economy. One way retailers can increase efficiencies is by automating the ways in which they handle their cash. A cash recycler is critical component of this strategy.
The Tidel Recycler Story
Cash recyclers help to automate the back-office cash handling tasks that many retailers face today. Too often, retailers that handle measurable amounts of cash are subject to the myriad of issues centric to manual cash handling – misuse of store labor, continual discrepancy investigations, missing cash, and exorbitant third-party fees. By using a cash recycler, many of these issues are either eliminated, or substantially minimized.
The Tidel TR Series of cash recyclers represents the broadest and most adaptable portfolio of cash recycling systems in the industry. The Tidel TR Series is designed to address cash automation needs across a broad spectrum – from a single till store all the way to the most dynamic, highest volume retail environments.
Powered by one common software platform that supports a multitude of note and coin recyclers, the Tidel TR Series enables retailers to automate their cash management processes while providing unparalleled levels of transparency and accountability to all cash transactions. The level of automation helps retailers significantly reduce their daily cash float, consolidate banking relationships, and greatly minimize the manual handling of cash – freeing up employees to focus on more productive activities.
Introducing the New TR180 Series
The Tidel TR180 is the latest addition to our cash recycler portfolio. The TR180 is a next generation retail cash recycler offering an unparalleled combination of performance, ergonomics, and configurability, all in a fully integrated, turnkey system.
Key features of the TR180 cash recycler include:
- 6,450 total note capacity
- 10 notes per second processing speed
- Recycle support for up to four note denominations
- Split denomination recycle cassettes
- 15” touchscreen console
- Connectivity to a wide range of Tidel peripherals, including coin recyclers, secondary storage vaults and rolled coin dispensing solutions
- Supported by the Tidel TR Software platform and remote management application
Serving as an effective back-office cash recycler, the TR180 can significantly accelerate cashier start and end of shift processes with its automation capabilities. Because of its unique features, the TR180 is an ideal solution for small format grocery stores, specialty retail, and big box retail.
The Tidel TR180 Series — Your Solution for Efficiency, Accuracy and Convenience
The Tidel TR180 offers a unique combination of speed, configurability, and capacity that helps organizations automate their cash handling processes and is designed to be a critical piece in a retailer’s overall cash automation journey.
The Tidel TR180 Series is available now! Contact Tidel today at 972.484.3358 or [email protected] to schedule your live demonstration, obtain a quote or acquire more information.