Cash is King
It has been said that cash is king, and nearly every Loss Prevention (LP) professional would likely agree. One of the greatest challenges for LP professionals has always been how to protect their respective organization’s cash from the time they receive it from customers to the time it gets deposited in the bank. Although revenue is the engine that drives business, it has no value unless it makes its way to the company’s financial institution and gets transferred to the balance sheet.
Problems with cash protection have existed since the beginning of time. From the bank robberies of the Wild West era to the gas station robberies of modern day, cash is the most highly sought after commodity in existence. The reasons cash is so desired is obvious, but why has it always been so difficult to protect?
The Problems of Profit Protection
Regardless of the size and shape of the mouse trap, criminals have always found ways to get their hands on other people’s cash. From dishonest cashiers pocketing $10 from the cash register to the Great Brink’s Robbery of 1950, Loss Prevention and security professionals have never been able to put their finger on a truly robust cash security solution. As a result, resources such as time and money have continually been doused on the flames of cash security.
All of this has left LP professionals wondering when a solution would finally be created that will vastly reduce the amount of time they spend on cash protection and cash theft investigations.
“The rise of computer crime and armed robbery has not eliminated the lure of caged cash.” – James Chiles
The Power of Profit Protection
With the help of technological advancements, the day has finally come. During a webinar hosted by Amphion Security Products, retailers and restaurateurs gathered to learn about the latest, most innovative approach to protecting cash: Smart Safes.
Smart safes not only streamline cash management procedures and processes, but they also create a safer environment for storing money. The safety improvement is derived from the smart safe’s ability to store cash into cassettes within the safe once the money is validated. No longer do cash-handling employees have free access to large stacks of cash. And although some Smart Safes are proprietary to specific CIT carriers, Amphion revealed their Smart Safes are CIT-agnostic, meaning their products easily integrate with any business’ CIT carrier of choice.
How Smart is Smart?
Smart safes do more than just protect cash. They have completely reinvented cash management protocols for businesses. Before smart safes, it was typical for cash to be counted anywhere between 3 to 5 times before it made its way to the bank. With smart safes, users simply insert cash and the safe does the rest. It validates to ensure the cash is not counterfeit, it records the cash, then securely stores the cash. And because smart safes are connected via the web, they provide managers and business owners with the ability to monitor cash deposit events. They track and store real-time data and provide the business with immediate cash deposits to the bank before the cash even leaves the store.
Another great feature of smart safes is that various departments who are granted access to the smart safe’s stored data can generate various reports they may need. Loss Prevention, internal accounting and even the CFO can have real-time data right at their fingertips.
The Return
There are many more advantages to smart safes, such as labor savings and cash shortage reductions. In fact, some businesses have realized over a 50% reduction in cash shortages…a fact that is destined to get the attention of any senior executive. The cash handling industry is no longer at a crossroads. The popularity of smart safes has continued to grow so steadily, it is no longer a question of “if” a business should use them. It is now a question of “when.”
About Amphion
Amphion is a security integrator delivering unmatched service to national restaurant and retail customers across the country. Specializing in loss prevention and security products and services, they are the one-stop-shop to safeguard your business assets.
Amphion manufactures and supplies the highest quality security products available on the market today! SOLINK ANALYTICS, CCTV, NVR’s, DVR’s, Custom Safes (Amsec, Fire King, Tidel, Gunnebo Cash Recycler Systems), Safe Locks (ESL, Securam, LPlocks), Access Control Systems (SFIC keying systems, InstaKey, Biometrics and Aiphone), Counterfeit Detectors, Exit Control door hardware (Detex, Alarm Lock, Code Locks), and much more.
With its nationally renowned technical support task force, Amphion provides certified technicians on-site within four hours, 7-days a week, 365 days a year. With a US-based, live 24-hour, technical support team and a comprehensive service management model, no one stands behind their products and services like Amphion.
To contact Amphion, call (800) 520-2677, or visit Amphion.biz.
Posted on