Video

Smart Safe Or Dumb Safe

ARCA Expert Jeff Hauser

 

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 Smart Safe 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 score currency that's presented at the cash register. 
 
When making a decision about intelligent safes, there are four critical areas to consider: productivity, security, accountability, and information. Now, 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 internet connection, that send data to central systems or to web portals or web service you can access at home, you've got information at your fingertips that you've never had before. 
 
The benefits of a smart safe truly include productivity, security, accountability, and information. You've now allowed, or empowered, your cashiers to be 30% to 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 nonessential 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 that you collect in your depository smart safe. 
 
And last, but certainly not least, these intelligent safes are about being in the information business. We improve the quality. Smart safes improve the quality of the information that you have at your fingertips, so you can make more informed decisions about cashier training, about staffing, about cash inventory, 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 a provisional credit relationship with your local financial institution. At the end of the day, smarter safes yield smarter business.