No grocer is ever going to turn down an influx of cash, but I think we can all agree it would be nicer if we didn’t have to spend so much time handling it, right?
Counting registers and transferring cash have been mainstays of the grocery industry for generations. Shift after shift, year after year, we count registers, transfer money and accumulate all the lost time and accuracy concerns that come with this process. All retailers count cash, but don’t necessarily pay close attention to the extensive labor and costs involved including cash sitting idle for each shift.
What if there was another way? What if technology offered a solution that cut the time we spent counting cash and worrying about accuracy down to almost nil? There is, and if you're not researching your cash recycling options, then this article is for you.
Arising from a place of need
From the nation’s largest grocery chains to small privately owned locations, the act of counting registers presents the same challenges. The process is:
- Time-consuming and an inefficient use of staff time
- Fraught with potential inaccuracies
- Nerve-wracking for staff — manual counting is prone to errors and shrink
- The first step toward final transportation of the cash to the bank, which presents an additional expense
These are all valid issues that cash recyclers can address. By automating the process, cash recyclers manage the myriad tasks associated with cash collection and counting in a fraction of the time required by human interaction with full accountability. Simply put, the recycler acts as an ATM for cashiers sorting money more quickly and accurately than even the fastest, most thorough employee can do. Excess cash is no longer needed in-store as recyclers eliminate the need for idle cash. In addition, because the machine is handling the collection, counting and storing of this currency, employees are free to use this newfound time to better serve their customers and grow brand loyalty.
With the new increases to minimum wage, grocers across the country are trying to reduce their labor expenses wherever they can and cash recyclers can help. Topco Indirect has partnered with Glory Global Solutions, a leader in the cash technology solutions industry, to help retailers analyze their cash processes to understand the impact of recycling and their cash technology options. Whether you’re looking to reduce your labor costs, improve your at-register accuracy or cut your armored car expenses by getting more use out of your in-house cash, we can help.
Contact our Store Operations Team today to set up a free consultation to learn more about your cash recycling options and how this technology could help you grow your return on investment. To view partnership between Glory and Topco, click here.