reduce, reuse and recycle!

Go Green! Reduce Your Carbon Footprint! Recycle!

We have all heard the litany of requests from governments, eco-agencies and individuals as they call for the mobilization of the individual to assist in making the planet a healthier place to live. So how does this apply to the currency management supply chain? Interesting question – and one that (surprisingly) has an answer. The implications in the following article, kindly authored by Jeff Hauser, Program Management and Marketing in the Payment Systems division of Unisys are obvious. Reduce the amount of handling and secure transportation required for managing your supply chain and you will reduce the energy needed to keep the cash moving in the marketplace.

Stop Wasting Money – Reduce, Reuse and Recycle

by Jeff Hauser, Program Management and Marketing, Payment Systems, Unisys

Cash handling processes have changed little over the last century for financial institutions and retailers alike.  Traditional, steel-safe storage and manual cash handling procedures require employee-managed accountability and take employee focus off of the most important part of any customer transaction – the customer!

With cash recycling technology, financial institutions and retailers can convert an outdated work process into an opportunity.  By storing cash in an accessible, centralized location, cash inventory can be more accurately managed down to the denominational level and existing inventory can be re-circulated.  Better still, this increase in cash control and manageability is realized in concert with automated workflows and increased security and cash accountability.

Cash Recycling Benefits for Financial Institutions

• Capitalize on fifty percent teller efficiency gains by automating cash handling procedures for your branch staff

• Empower your tellers to shift their focus from transactions to the client, deepening existing relationships and creating opportunities for new acquisitions

• Enhance security by storing cash centrally in a UL 291 safe that allows your tellers to access operational cash safely, without the need for dual control

• Reduce your branch cash inventory by avoiding the storage of cash in multiple, individually controlled teller cash drawers with limited denominational visibility

Cash Recycling Benefits for Retailers

• Reduce your cash handling costs by cutting time spent physically counting and sorting money and using less cash to cover initial float or seed money

• Simplify your cash management strategy by storing cash centrally in one device that accepts and dispenses all U.S. denominations

• Lower your cash-in-transit costs by tightening your cash supply chain with more accurate cash management, thereby lowering the number of armored car pickups each week
• Cut your labor expenses by reducing manual cash handling time and eliminating manual reconciliation procedures

Tagged as: currency, paradigm shift, technology