What can a Smart Safe do for your business?
Implementing a Smart Safe Cash Management System offers numerous benefits when it comes to your business’ treasury.
- Banking costs may be reduced due to less frequent deposits, reducing or eliminating sweep fees
- Store reconciliation costs should be significantly reduced. The reconciliation staff should see fewer discrepancies between the POS cash sales and the deposit amount, and they should also have fewer banks to reconcile to the concentration account
- Since the deposit amount is typically guaranteed by the CIT company, discrepancies are greatly reduced
- If the customer implements daily credit, cash flow is maintained. Their deposit is in the bank every day regardless of when the physical cash is picked up by the CIT company. Daily credit, also known as provisional credit, will be discussed in detail in a future article
- There should be no missed/late deposits, as the CIT now manages this process
Call 214.845.6800 or email firstname.lastname@example.org for a free security consultation to see if a Smart Safe is the right cash management solution for your business operation.