With the automation of cash handling, cost savings can be realised both at the retailer and the bank. The speed of back office processing and preparation of the cash by the retailer can be increased. The frequency of CIT visits can be optimised by the retailer as the CIT company can view what is held within the Tellersafe in real time. The CIT can schedule visits appropriately for both the retailer and the CIT operations, providing cost savings in terms of manpower and transportation.
The security of cash is critical to the success of a business and the safety of the staff. The key to marrying improved security and reducing the threat posed by both internal and external forces lies in the automation of cash handling in the back office environment. As staff no longer have access to the cash once it is deposited in the safe, problems such as shrinkage are eliminated. The knowledge that staff only has access to small amounts of cash held in the tills will also deter potential criminals.
Another advantage of Tellersafe lies in the relationship between the business and the bank. Once the cash is deposited in the machine, it is value counted and authenticated. A bank can view this deposit in real time and can agree to accept ownership of the securely stored cash at this point and release the value of this cash deposit through credit facilities.