Smart Safe or Dumb Safe?
For retailers, securing cash has been a headache for years. Most believe that there is an acceptable level of shrink. This video gives a brief overview of how safes are evolving from the traditional floor safe, to something that utilizes today's advanced technology. Enjoy.
Good Afternoon. I'm Jeff from ARCA and I'm here to share with you some information about Smart Safes. First, it's important to start with where an intelligent safe or a SmartSafe lives. Like its lesser known cousin, the dumb safe - no offense intended - intelligent safes are located at or near the point of sale, intended to allow cashiers to quickly and safely store currency that's presented at the cash register. When making a decision about intelligent safes, there's four critical areas to consider: productivity, security, accountability and information. And, no doubt, the traditional, mechanical dumb safe does provide enhanced security, and when implemented correctly, can improve productivity.
The good news is with Smart Safes, we take a quantum leap forward; that which was traditionally silent, sitting under the cashier counter, has now become an active part of the way that you manage your business. With intelligent safes that communicate wirelessly or over the ethernet connection that send data to central systems or web portals or web servers that you can access at home, you've got information at your fingertips that you've never had before.
The benefits of a SmartSafe truly include productivity, security, accountability, and information. You've now allowed or empowered your cashiers to be 30-40% more effective in just the basic managing of transactions. From a security perspective, you've installed a monitored safe with a steel chest that can be evaluated or checked remotely for its current inventory position. It's got the ability to authenticate bills when bills are deposited. You can throw away your little highlighter pens and your non-essential counterfeit detection equipment. You've replaced it with something bigger, better and certainly, smarter.
From an accountability perspective, each time one of your cashiers engages the device, they're required to identify themselves with a username or password and there's an electronic journal that corresponds with that. You've now got the ability to rationalize your point of sale information with the information you collect in your depository SmartSafe.
And last but certainly not least, this intelligent safes are about being in the information business. SmartSafes improved the quality of the information that you have at your fingertips so you can make more informed decision about cashier training, about staffing, about required cash inventory at the local level. And, you can do all of this remotely. Additionally, you've got the opportunity to leverage this information to lower or control your cost of cash in transit, to potentially unlock the opportunity to remove float from the equation and work with the provisional credit relationship with your local financial institution. At the end of the day, smarter safes yield smarter business.