According to the 2018 Report issued by The European House - Ambrosetti, Italy did not reduce the volume of circulating cash. Actually, it increased it.
From 127.9 billion cash in 2008, in 2017 the amount increased to 197.7 billions, equivalent to a 3.8% increase. This trend is aligned with an increase in the amount withdrawn from ATM machines: +8.9% from 2008 to 2016, the highest amount in Europe.
These amounts are clearly opposite to the trend of other countries belonging to the same socio-economic area, some of which are aiming to become cashless by 2023.
The advantages of an automated management of cash transactions
With the data in hand, if cash is no longer the undisputed king of retail, it still represents its vital essence. Thus, it is fundamental for retailers to equip themselves with cash management systems that are reliable and capable to simplify everyday life, in full safety.
The advantages of an automated management of cash transactions are many and increasingly fundamental.
Immediate counting and checking of cash
Cash managed by an automated system is already counted and validated, ready to be withdrawn in full safety. This allows avoiding accepting counterfeit coins and bills, reducing to a minimum the risk of frauds while shortfalls caused by calculation errors are eliminated completely.
No ore cash register discrepancies
Negative cash register discrepancies can be caused by a variety of reasons: errors, thefts, rounding, and incorrect receipts. An automated cash management system ensures the certainty of takings, by registering all transactions and ensuring perfect reconciliation of accounts.
Personnel cost reduction
Technology helps in automating a daily and repetitive task such as cash counting and cash reconciliation. Personnel is no longer responsible for a task that is at time risky, due to errors or distractions, and the time saved can be used to offer better customer service and to perform other more remunerative activities.
Increased security at the point of sale
By installing a cash management system, the risk of theft and robberies is reduced radically because the cash is constantly entered and stored in a device protected by adequate security systems, such as: anchoring at the counter, safety blocks, alarms and various levels of access authorization (to allow, in a diversified manner, cleaning and accessing).
Guaranteed personnel hygiene, since contact with cash is avoided: this is an advantage that, at times, is not considered important but that may actually be decisive in improving the environment and the work conditions of one's staff.
Up until the day the transformation into a cashless society is complete, cash management systems represent a practical solution to simplify daily tasks of retailers and reduce related risks: counterfeit coins and bills, thefts and staff errors in checking cash transactions.
Cash management solutions by Custom
Commercial establishments with an efficient cash management solution enjoy greater revenues, reduced costs, greater security and a more effective sales process.
Custom offers to its Retail customers the series of CHS, CHS+ and CHS150 systems: all cash management systems that allow the automatic management of cash transactions. They are ancillary systems designed for Retail, which can be integrated with the point of sale systems (POS and/or ECR) and designed ergonomically to fit the cash register counter.
Discover the technical characteristics of the CHS150 model: the sole compact device to manage bills and coins.
Discover the technical characteristics of the CHS+ modules: differentiated devices for bills and coins, configurable in different ways that can be expanded up to 4 modules. Ideal to adapt to any point of sale and connected to Retail software developed for all operating systems.
And browse the Case History gallery of Custom's cash management systems:
Dealer Custom: LFI ELECTRONICS SR
Complete solutions for the management of cash: CHS+ with SILK and PosA
Retailer: bakery in Brusciano (NA)
Dealer Custom: ESSE GROUP SRL
Complete solutions for the management of cash: CHS100 + HT15
Retailer: Tobacco and coffee shop in Catania
Dealer Custom: INFOETEL
Complete solutions for the management of cash: CHS+
Retailer: service station Di Benedetto on the state road 16 bis that connects Foggia and Bari