How Much Time is Spent Counting Cash?

Down

You could be spending more than $11,000 in labor costs alone that could be eliminated with the implementation of a smart safe.

Yearly Cost of Till Bleeds:

  • It requires 10 minutes of a manager’s time to check the count. This results in 2 hours of lost manager time each day, due to cash counting. At an average manager pay rate, this could result in almost $10,000 per year in labor costs.
  • It requires 5 minutes of a server or cashier’s time to check the count. If tills are bled every 2 hours, this results in about 1 hour of lost time among your servers and cashiers each day. At an average hourly rate, this could result in almost $1,400 per year in labor.

With a Cash Management Safe, cashiers and managers would only have to insert cash into the bill reader of the safe. A fast and accurate count for the tills would be automatic.

Yearly Cost of Preparing Bank Deposits:

  • Deposits are prepared each day by the manager. Counting and preparation takes about 30 minutes to complete. Over the year, this could cost you nearly $2,500.
  • If your managers are bringing the deposit to the bank themselves, this requires about 45 minutes of their time every day, which could result in more than $3,500 in labor per year.

Cash management safes deposit bills into protected cassettes designed specially for armored car pickup. With these smart safes, no time is lost counting tills or re-counting for a bank deposit, and managers can save time by having cash picked up by armored car services. Call 214.845.6824 or email mclinton@rslc.net for more information on how a cash management machine could be saving you thousands each year.

 

 

 

Written by: Krysten Demster

Date: 7/15/16

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