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Your Top 4 Cash Security Resolutions for 2013

By: Charlotte Cardona, M.Sc, PMP
January 2, 2013

Now that it’s 2013 you’ve surely begun your new year’s resolutions—and if you’re like most business owners, at the top of the list, you’ve probably indicated the goal of improving the success of your business.

 

For some that might mean overhauling your customer service practices, while for others it means devoting more time to managerial training. Whatever the case may be, and whether you realize it or not, maintaining the security of your cash can be an often-overlooked element to reaching those goals.

Here are four tips to keep in mind as you’re striving to reach your 2013 goals and resolutions, including info on how they can help improve the success of your business this year.

1. Incorporate some technology into your registers to help keep them balanced. If you hired temporary help for the holidays, you may have noticed an up-tick in unbalanced registers. Even if you don’t suspect temporary or part-time employees from “taking a little off the top”, human error is inevitable—but not with a smart safe. Today, smart safes read and immediately verify each note that’s inserted into the register, supply the correct change and make a remote deposit directly into your bank.

2. Don’t bother worrying about making change. Cash service companies of all kinds supply change orders to their customers. All you have to do is make a call to schedule an exchange and put your currency in a bag. By outsourcing this task with a change fund service you can forget about reconciliation errors while reducing your bank fees and essentially increasing your cash flow.

3. Ease the burden of meeting your bank’s requirements for remote deposit capture or check imaging. This is another task you can easily (and affordably: see tip four) outsource. When you outsource this service, you decrease your liability and associated risks while ensuring secure storage and safe destruction of your checks on a regular basis. It’s that simple.

4.  Quit making excuses. Secure armored transport of your cash (and other cash services) is affordable. For less than what you would pay for monthly trash pick-up, you could take the responsibility of bank runs off-the-plate of your managers. What you’re really buying with secured armored transportation is peace of mind and time—that’s time you won’t need to spend worrying about the safety of your staff and more time your managers will have to focus on improving operations.

Now that you know how to improve the security of your cash in 2013—and improve the success of your business in the process, we want to know what your top resolution is for 2013. What will you be doing to ensure business success?