Not All Cash-Counting Devices are Created Equally: Learn What to Look For

1/31/2020

“The bitterness of poor quality remains long after the sweetness of low price is forgotten.” — Benjamin Franklin

Negotiating a great deal or agreeing a purchase at a rock-bottom price may well win you admiring back slaps and high-fives from your colleagues, but will that initial glow of satisfaction you feel be short-lived? Will you be disappointed, maybe even embarrassed long-term that your acquisition hasn’t performed as expected?

These are questions you might consider when upgrading or investing in new cash-handling and management systems.

You already know that counting money by hand is costing you money — the man hours spent counting it, the errors that arise, the shrinkage, and not to mention the lost opportunities for more productive activities. So, when choosing count-by-weight cash-counting technology for your organization, opting for the cheapest product on the market is unlikely to be the best way forward.

What then are the key considerations in choosing the perfect cash-counting solution for your organization?

Product Engineering Innovation & Expertise

It makes sense to look at the offerings of specialist manufacturers providing leading-edge cash-management solutions with a reputation for creating the most advanced, intuitive and compact cash-counting devices.

Achieving Accurate & Reliable Cash Counts Every Time

You need a product that will be 100% reliable regardless of the environment or conditions in which it is operated. Built-in miscount protection, for instance, means that you will achieve fast and accurate counts in the most challenging of conditions, and vibration won’t affect the accuracy of your count.

Speed

Getting the till count done quickly is a priority. After all, you want to focus your energies on your customer or value-added activity. When thinking about this aspect, it’s worth checking not only on the time it takes to count the till, but the time it takes to carry the machine to the till, connect it to a power supply and to start it up.

From the second you turn on your device to the moment you finish, you should, with the most advanced counting device, be able to complete your entire till count in under 60 seconds.

Decluttering Your Workspace

Are you tight on space? If so, think about a device with an integrated battery and printer. Having the counter, the printer, and the power all without wires in one neat self-contained unit makes perfect sense and is exactly what you need for carrying out quick spot checks and till audits around the store, as well as the standard cash counts and pick-ups.

You will definitely want to avoid those devices that are really only suited to back office use due to their size, unwieldy design and requirement to be hooked up to a printer and power supply.

Machine Resilience & Durability

Cash-counting devices need to be robust enough to withstand intensive use and everyday handling by busy associates. Having features such as toughened glass on the display, an absence of moving parts and power-supply protection are of real benefit, as are battery charge control and tool-free assembly.

Additionally, some manufacturers offer models that employ only adaptive technology and inefficient single-board PC components as opposed to proprietary real-time operating systems and hardware, developed in-house. If you require optimal performance and security, a manufacturer that uses proprietary software is the way to go.

Connectivity & Secure Systems Integration

For many businesses wishing to speed up processing of data and access more real-time information in order to make faster decisions, the ability to remove multiple levels of manual processing of data will be an important consideration when investing in new cash-management technology. Many businesses will want to consider the best and most secure method for transferring data quickly and directly from the device to their own computer system.

Training

Beyond the cost of purchasing cash-counting units, there may be the less obvious cost of staff training to consider. To keep these costs to a bare minimum, go for an intuitive and easy-to-use model, one that takes only a few minutes of instruction to master.

Adapting to your Business Environment

Don’t get locked into old technology incapable of adapting to any new business and cash-management processes. Instead, choose a manufacturer that will calibrate your device to make it function in exactly the way you want it to by means of small configuration files written to your specifications.

-Gordon McKie is CEO of Cashmaster International, a provider of count-by-weight cash-counting technology.

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