Cash recyclers have transformed the ways clubs handle large amounts of cash. They streamline cash handling processes, reduce operational and employee costs, increase accuracy and bolster security. As an innovative cash management solution, cash recyclers are also putting your staff back on the floor ready to improve the customer experience and boosting your venue’s reputation.
A cash recycler works by automatically accepting and dispensing notes, coins or both. The machine authenticates, checking for counterfeit currency, and keeps track of all money coming in and out. Cash is stored securely within the machine thanks to intelligent safes with features like electronic time delay locks.
It's all in the name - cash recyclers store cash coming in and then give out that same money as required. This 'recycling' saves you ordering more cash and can improve your venue's cash flow.
Why do pubs and clubs love cash recyclers?
Cash recyclers allow your staff to focus on customers and improving their experience in the venue, rather than on manually counting, handling and validating cash. The cash recycler is a cash management solution which will do all the counting and reconciliation, leaving your staff free to spend their time on more productive and valuable tasks.
Since the advent of cash recyclers, things have changed for the better in clubs. Here are some of the ways they improve processes for busy venues:
With real-time reconciliation, tracking and reporting via a cloud-based portal or directly from the machine, cash recyclers are giving pubs and clubs unparalleled visibility of the cash flow in their venues.
Most clubs are dealing with large amounts of cash, so naturally, security is top of mind. Whether you're concerned about internal theft, external burglary threats or both, a cash recycler will increase your security measures. The machine becomes an intelligent safe for cash, which can only be accessed by authorised users. Some recyclers even feature a one-time Emergency Access Code (EAC) to dispense additional funds like a large gaming payout for instance. Venues often say the best part of having a cash recycler is that you can have your cash safe and secure but still be able to easily access it as required.
Look for machines that incorporate a night rated safe, which means you are able to leave money in your machine overnight without jeopardising your insurance policy.
Float management and reconciliation
Cash recyclers have also changed the game when it comes to accounting, reconciliation and banking. With real-time reconciliation, tracking and reporting your venue easily has eyes on cash coming in and out. Not only is it easy to see what's happening, but with a cash recycler, there is also less human error and costly mistakes. Cash recyclers automate previously manual tasks, like sorting, counting and authenticating notes, coins or both, virtually eliminating errors.
Conveniently, cash recyclers are simultaneously reducing errors while also increasing transaction speed. Mixed up currency is dealt with quickly and efficiently and because the machine is automatically counting the cash as it comes in and out, there is no long-winded end of shift/night process either.
Want to learn more about how Australia’s today’s best-performing clubs are using technology to stay ahead of the game? Our free ebook Pubs and Clubs of the Future gives you tangible examples of how top venues stay popular and profitable.