“On-site store observations, comparing what is actually happening in the restaurant versus the standard operating procedure, can reveal many inefficiencies which can be corrected by implementing an automated and standard way of handling and depositing cash,” Evansek says.
When a restaurant adds new automation technology and begins a new cash handling process, training and providing resources for ongoing training of employees is essential, Evansek says. Operators should ensure there’s always a paper trial, which is easy for managers to maintain and view if their smart safe and cash recycling solutions come with a customer reporting portal. Finally, operators should assess their new cash handling process at 60-, 180-, and 360-day intervals, evaluating the compliance of the transition and making improvements as necessary.
In fact, a case study conducted by Loomis found that restaurants can save more than 30 hours per month in labor and another $50–$100 in bank depository and change order fees by automating cash management.
“Operators that choose an automated way to handle and deposit cash can count on time and money savings from eliminating or reducing bank trips, deposit prep, drawer reconciliation, and benefits within corporate treasury, accounting, and loss prevention,” Evansek says.
To learn more and download Loomis’s Ultimate Guide to Restaurant Cash Handling, visit loomis.us/restaurant-guide.
By Kara Phelps