Retail Cash Automation: Cash Recyclers & Accountability
ARCA Expert Jeff Hauser
One of the primary challenges that retailers, financial institutions, anybody that handles cash…one of the primary issues they deal with is accountability and security. And in many cases, the way they circumvent that is to allocate certain parts of the cash footprint that are under sole control, under the tutelage of the cashier, and other areas like change funds or petty cash that fall under dual control.
When you consolidate cash into a single footprint like a cash recycler and you've eliminated some of the need to create accountability through dual control, through multiple sets of hands and eyes, and you instead replace that with the electronic journal, you don't have cash stored in as many disparate places, places that are only accessible to the individual cashier or to individual managers. And so, with greater centralization of cash, greater visibility to, not just total inventory but denominational inventory, you become a lot smarter about what you keep on hand in order to meet the requirements of your business.