Colleges and universities take in cash at multiple locations on campus. Popular locales such as the student union, bookstore, basketball arena, football stadium, and on-campus restaurants, including many popular quick service restaurant brands, conduct many of their transactions in cash, and this trend is likely to continue far into the future. Indeed, 80% of college students carry cash, and as universities compete to attract students, amenities and attractions are added every year.
For colleges and universities, this daily influx of cash can present many challenges without the implementation of automated, secure, and scalable processes supported by the right technology and program.
Colleges and Universities face common challenges:
- Misappropriation of labor assigned to manual cash handling duties
- Multiple points on campus that accept cash – which leads to substantial labor assigned to daily reconciliation activity
- Lack of cash visibility
- High third-party fees – including banking and CIT fees
- Difficulty in scaling cash handling processes when required – particularly for popular on-campus sporting events
To address these requirements, Tidel offers a complete lineup of cash automation systems, including smart safes and cash recyclers, that help universities secure and automate daily cash processes. Our systems enable universities to easily scale their cash processes, while fostering an environment based on increased cash security, accountability, and transparency.
Sep 3, 2019 It’s Time for Colleges to Get Educated on the Benefits of Cash Recyclers and Smart Safes Cash Recyclers Convenience Stores and Gas Stations Other Retail Quick Serve Restaurants Smart SafesMillennials, the generation that grew up during...
Jan 15, 2019 Cash is King on Campus; Cash Recyclers and Smart Safes Keep It Safe Cash Recyclers Smart Safes Markets Universities When cash is manually managed on a college campus, it wastes valuable time and resources that could be better spent...
To learn more about the Tidel cash management solutions that have been deployed in the grocery industry, select the following.
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