The Benefits of Using Smart Safes for Businesses and Financial Institutions

Smart Safes

Many banks and businesses depend on access to cash—whether large or smaller amounts—for their daily operations. However, the more cash businesses keep on hand, the more they are vulnerable to loss risks, from both internal and external theft, as well as human error.

Smart safes are a modern solution for protecting cash and valuable assets and are an increasingly vital component of any good cash management system. Essentially an electronic safe that counts and safely stows currency, these cash handling tools can provide your business, medical facility, government agency, or financial institution with an efficient, digitized solution to managing your incoming cash. 

So, does your business need a Smart Safe, and how can they help you simplify your cash handling and accounting requirements? Let’s explore the top benefits that Smart Safes have to offer, from physical security to cutting-edge automation.

How Businesses and Financial Institutions Can Benefit from Smart Safes:

  1. Increased Physical Security

Smart Safes provide advanced security measures to protect against physical and cyber threats and fraud. These include:

  • Patented door designs to prevent pry attacks.
  • Encrypted communications to prevent third-party interception or access.
  • Currency validation to detect counterfeit notes.
  • Employee access records to always know who accesses your safe, and when.

These protections can help ensure security of high-value currency and eliminate the many risks of traditional, manual cash handling.

  1. Greater Operational Efficiency

Smart Safes can simplify the cash management processes, from deposit to collection, through easy integration with banking systems. The end result is increased efficiency in day-to-day accounting and cash handling. What specific features facilitate this benefit? 

  • Automatic report generation, saving time on accounting while increasing oversight and accuracy.
  • Simplified operation, including one-touch cashier buttons and intuitive functionalities.
  • Seamless integration with many pre-existing web portals and accounting systems, making it easier to analyze cash flow patterns and make informed cash management decisions. 

All these features can help you save time and money in your daily operations, while giving you the tools to increase your efficiency

  1. Improved Accuracy and Accountability

Smart Safes aren’t just secure storage locations, they accurately count currency, track employee usage, and generate detailed deposit reports. These functions can serve to reduce human error and promote an accurate, efficient, and secure cash handling system. Not only do Smart Safes accurately count currency as it is secured, its built-in counterfeit detection can ensure that only valid notes are accepted for deposit.

Smart Safes can also support your employees, giving them an easy-to-use tool to help ensure their own accurate cash counting, reducing the burden of exacting cash counting, as well as human error. But this doesn’t mean a decrease in accountability or a relaxed cash handling environment.

Because each user has their own identification to access the safe, electronic safes functionally increase individual accountability, while discouraging internal theft. Real-time reporting on user access creates greater transaction visibility and employee monitoring—all of which can serve to create an environment where accuracy and accountability are central.

  1. Cost Savings

More than just a cash vault, automation is a key benefit of Smart Safes. When you automate your cash handling tasks, you can decrease the manual labor spent cash counting and sorting—without sacrificing quality controls.

Not only do Smart Safes reduce labor costs, they also can lead to savings on banking services. When your cash processing is maximized for efficiency, you can have fewer cash deliveries and pickups, minimizing bank fees. Additionally, Smart Safes can provide provisional credit, allowing you to access the value of your cash sooner, smoothing cash flow and potentially reducing financing needs.  

Safe benefits
  1. Diverse Industry Applications and Customization

Every business has unique cash handling needs. Smart Safes are not one-size-fits-all, and are designed to meet your business where it’s at—whether you have huge currency demands each day, or simply want an easy and safe way to process and store notes between cash pickups.

At Shields, we offer a variety of CASHTRAK™ Smart Safes, with both single and dual validation functions and a range of cash storage capacities. Dual validation safes, ideal for fuel stations, larger retail stores, government services, and anywhere with robust cash handling needs, can store from 2,400 to 4,400 notes across two storage cassettes. Single validation retail safes, great for doctor’s offices, restaurants, smaller stores, and anywhere with more modest cash handling requirements, can store up to 1,200 notes.

Why work with Shields for commercial Smart Safes?

At Shields, our products and services utilize the highest security standards in the industry, helping to mitigate the risk of financial loss and criminal interference. We carefully monitor and select the industry technology that we offer, choosing the best available product lines and taking the time to understand each product and how it works—inside and out.

Our advanced knowledge of all the commercial cash management products we sell serves as a foundation for our expert service and our commitment to providing reliable customer support and maintenance. We work hard to ensure that businesses who partner with us can take advantage of an easy setup process, fast turnaround on any problem resolutions, and friendly assistance—whenever you need it.

Upgrade Your Security: Partner With Shields to Secure Your Business or Institution

Ready to enhance the security and efficiency of your business’s cash handling? We strive to be your trusted, regional bank safe vendor. Our cutting-edge Smart Safes are designed to provide a cost-effective, simple, and safe way to count, store, and track your cash—backed by our seasoned expertise and dedicated customer service.

From small retail establishments to large, multi-site businesses, we invite your company in NJ, NY, DE, or PA to learn more about the range of cash and security solutions we can offer. Contact us for a free security consultation or subscribe to our blog for more tips on security and ATM/ITM management