The Impact of Smart Safes Goes Beyond Security

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The Impact of Smart Safes Goes Beyond Security

By David Barclay, Tidel - 10/03/2017
advantages of smart safes

In any retail setting, security is one of several factors that contribute to a profitable and productive business atmosphere. When properly established, a fortified environment can have a direct and positive effect on a store’s productivity and its employees, which in turn leads to a better overall customer experience.

An effective security system has several components, one of which is how the store secures its cash. In a convenience store setting, a substantial amount of transactions are conducted in cash and, as such, it is paramount that the store has a secure and accessible cash receipt system in place.

A smart safe can support a retail outlet by securing its cash deposits, while also reporting all cash transactions. This level of transparency safeguards against internal theft and facilitates a dependable audit trail that is essential to a successful enterprise.

Placing a smart safe directly under the register allows staff to make cash deposits throughout the day, which keeps the register’s balance at a minimum and, in turn, puts into place a proven robbery deterrent.

Beyond security, however, smart safes can also have a positive impact on employee productivity.

A smart safe automatically records all transactions, ensuring maximum cash accountability. It can also be programmed to a store’s point-of-sale system, ensuring that all cash sales reported and deposits take place in timely fashion e.g., when the register exceeds predetermined capacities.  

Employee productivity is enhanced with a smart safe for the fact that register balances are easily reconciled. Store managers are able to prepare deposits in a very quick and efficient manner due to the smart safe’s automation.

A smart safe alleviates apprehension as it relates to handling cash; the implementation of smart safes provides employees with a heightened sense of freedom as they are able to deposit their cash receipts in a secure and automated platform. With this burden removed, they can focus on what motivates them assisting customers and securing that next sale.

Fast access to relevant data can empower a business to make better decisions and maintain an equitable level of agility in a fiercely competitive market. A smart safe supports a broad set of reports that enables an organization to harness and interpret its cash business. This level of intelligence permits the store to make important decisions concerning staffing, security protocols/procedures, float fund management, banking relationships, and frequency of CIT pickups.

A retail store operating in a highly competitive market will need to continuously evolve in order to foster a productive environment for its employees. A smart safe plays an important role in this process. If leveraged correctly, a smart safe can have a significant impact on a store’s safety and security and, ultimately, employee productivity. Greater employee productivity will inevitably translate to greater employee retention and improved customer service.

Striving for greater efficiencies is difficult to do without the right level of intelligent technology. Relevant, real-time and accessible data, all of which can be provided by an effectively deployed smart safe, can enable a convenience store to make smart business decisions and maintain the agility needed to thrive in today’s marketplace.

David Barclay is director of global marketing for Tidel.

Editor’s note: The opinions expressed in this column are the author’s and do not necessarily reflect the views of Convenience Store News.