Our experts strive to be honest and accurate. We follow the IPSO editors' code of practice.
VinciCash is supported by its readers. We may earn a commission from products purchased through links on this page. Find out about our process here
Transform Your Business with the Best Cash Handling Machines: The Complete Guide
As the owner of your business or your company, you know how crucial it is to have accurate and secure control over every cash transaction made. This is where the right tools come into play, such as cash handling machines or intelligent cash drawers.
The purpose of this article is to provide you with a comprehensive guide that allows you to make informed decisions about acquiring and using these tools.
We will explore practical tips, detailed pricing information, as well as the advantages and disadvantages of incorporating intelligent cash drawers, automatic payment machines, automatic cash registers, and other similar devices into the daily management of your business.
With a clear understanding of these tools and their implications, you will be able to optimize your operations, improve security and efficiency in cash handling, and boost the overall performance of your company in the competitive retail market.
What are cash handling machines?
Cash handling machines are specialized devices designed to automate tasks related to the management of bills and coins in a business. They are essential for maintaining accurate and secure control of cash flow, optimizing processes such as receiving, counting, storing, and recording transactions.
In the daily operations of your business or your company, precise control of cash flow is essential to keep the operation running efficiently and securely. This is where cash handling machines come into play, tools designed to simplify and optimize this vital process.
In simple terms, cash handling machines are specialized devices that automate various tasks related to cash management. Their main functions include receiving, counting, securely storing, and accurately recording bills and coins in your business.
In the market, you will find a variety of intelligent cash drawers, automatic payment machines, and other similar devices, each with unique features and capabilities. Some are designed specifically to integrate with existing point-of-sale (POS) systems, while others offer advanced features such as bill classification and verification.
The choice of the type of cash handling machine will depend on the specific needs of your company and the volume of transactions you handle daily. It is important to research and compare the different options available to select the one that best suits your requirements and budget.
How do cash handling machines work?
You charge your customer normally, adding the products they are carrying to their receipt. Then, the customer introduces their coins and bills: the intelligent cash drawer or the automatic payment machine identifies the amount paid, classifies the coins and bills, and automatically returns the change. This automation not only streamlines the payment process but also minimizes errors and ensures accurate cash management in your business.
In the context of your business or your company, the implementation of cash handling machines such as intelligent cash drawers or automatic cash registers offers a series of significant benefits that can notably improve financial and operational management:
Improved efficiency in the cash handling process:
Cash handling machines automate repetitive and laborious tasks such as counting and classifying bills and coins, which speeds up the checkout process and allows your business to serve more customers in less time.
Reduction of human errors and fraud:
By minimizing manual cash handling, these machines reduce the likelihood of errors in counting or recording transactions, as well as the risk of internal or external fraud, ensuring more accurate and secure cash management.
Increased security and regulatory compliance
Cash handling machines are designed with advanced security features, such as high-security locks and anti-theft systems, that protect the cash stored in your business. Additionally, their use can help comply with security regulations and standards established by the competent authorities.
Improved hygiene
In a context where hygiene is paramount, cash handling machines provide an ideal solution. They eliminate the risk of cross-contamination by reducing the manual handling of bills and coins, providing peace of mind for both employees and customers, especially in the context of the coronavirus pandemic.
Reliability
The use of an automatic coin changer ensures accuracy in the change returned to the customer. By calculating the amount to be returned based on the money introduced by the customer, human errors are eliminated, and the cash balance remains flawless at the end of the day.
Less fraud
Automatic coin changers are equipped with automatic counterfeit bill and coin detectors, significantly reducing the risk of fraud by automatically rejecting any counterfeit currency. This provides greater security for both your business and your customers.
CI-10X Glory
High capacity for 700 bills and up to 2,780 coins
Processing speed of 3 bills/s and 5 coins/s
Flexible configuration: employee or mixed
Advanced counterfeit detection
Complete control and traceability of cash operations
Despite the numerous advantages offered by cash handling machines, it is also important to consider some potential drawbacks that may arise when implementing these tools in your business or your company:
Potential compatibility issues with other systems
When introducing new cash handling machines, compatibility issues may arise with other existing systems in your business, such as point-of-sale (POS) systems or management software. This could require additional adjustments or customization to ensure proper integration, such as the ImaCash solution, which we discussed in this article.
Initial acquisition and maintenance costs
The initial cost of acquiring a cash handling machine can be significant, especially for small businesses or SMEs with limited budgets. Additionally, ongoing maintenance and technical service costs must be considered to ensure optimal performance over time.
Need for training for proper use
The proper use of cash handling machines requires adequate training for staff. This may involve additional time and resources to provide the necessary training, which could cause disruptions in daily operations during the training process.
Possibility of technical failures and downtime
Like any electronic device, cash handling machines are subject to potential technical failures. The resulting downtime could affect the operational efficiency of your business and negatively impact the customer experience, especially during high-traffic periods.
Tips for selecting the right cash handling machine
Here are some key tips to help you in the process of selecting the ideal machine for you:
Handling capacity
Evaluate the machine's capacity to handle the volume of cash that your company manages. Consider both the number of bills and coins it can store and process. If you have been running your business for some time, you probably already know how much cash you handle daily, which will allow you to analyze the ideal storage and processing capacity for the cash drawer for your business.
A high-traffic supermarket processing hundreds of transactions per hour will need a machine with high bill counting and recycling speed to keep lines moving.
A small gift shop with a moderate flow of customers could opt for a more basic and economical device.
Processing speed
Look for a machine that offers an appropriate processing speed for your business needs. If your company is in the catering business, you probably have less time to serve your customers, so you will need a high processing speed.
Number of daily operations with bills
A bakery with a high number of small transactions (tickets of $2 to $5) will have a high volume of operations with $5, $10, and $20 bills. It will need a cash drawer with a fast bill dispenser and recycling capacity to efficiently handle this constant flow.
MRX™ MODULAR BANKNOTE RECYCLER
Cash drawer: 2,200 bills (new)
Feed: Up to 30 bills in bulk
Processing speed: 2 bills per second
Deposit: Up to 30 bills (dedicated drum)
Recycling capacity: Up to 8 drums, 60 bills per drum
A mid-range restaurant (tickets of $30 to $60) will see fewer operations, but with higher denomination bills such as $50 or even $100. A less fast machine, but with greater storage capacity would be more suitable.
CashProtect 400 CL
Stores up to 3320 coins and 5060 bills
Processing speed of 6 coins per second and 1 bill per second
Easy integration with cash management systems
Equipped with security locks and drawers with keys for cash withdrawal
Make sure the machine has robust security features, such as high-security locks, anti-theft systems, and bill authentication functionalities. An interesting aspect of the security of these machines is the materials they are made of, choose machines that are difficult to penetrate or compromise.
Integration with existing systems
Ifyour businessalready uses point-of-sale (POS) systems or other management systems, it is important that the cash handling machine integrates easily with these systems for efficient data management. There are solutions like ImaCash that will help you integrate not only your POS with the machine, but also various machines, even from your other branches, so you have control of all your transactions in a single software.
Average Ticket
An electronics store with an average ticket of €250 will require a cash machine with ample capacity for high-denomination bills such as €100 and €200, as well as advanced anti-fraud features.
A newsstand with an average ticket of €5 will benefit more from a cash machine focused on the agile handling of coins and small bills such as €5 and €10.
Ease of use and maintenance
Look for a machine that is intuitive and easy to use for your employees. Furthermore, consider the ease of maintenance and the availability of technical support to resolve any issues that may arise. Be sure to consult with the provider about the equipment's warranty and maintenance policies.
Compatibility with local coins and bills
Verify that the machine is compatible with the denominations of coins and bills used in your country or region to ensure smooth operation. In Europe, most manufacturers offer their intelligent cash drawers integrated with the Euro as the primary currency; but you may need a multi-currency solution depending on your business or the industry you are in.
Physical Space
A small currency exchange office with little space behind the counter would opt for a compact machine like the Cashlogy 2023. A large hypermarket with a large checkout area could install a larger modular cash machine like the Glory CI-10X or the VNE Virtuo 2.
VNE - Virtuo
- Capacity of 400 bills in the dispenser and 120 bills in recycling - Accepts up to 4 different denominations of bills - Accepts up to 1,300 coins with a capacity of 2,000 coins - Speed of 1 bill every 2 seconds for admission and 1 bill per second for dispensing
By considering these tips and carefully evaluating your specific needs, you will be able to select the cash handling machine that best suits your business operations and goals.
How much does a cash handling machine cost?
The cost of cash handling machines can vary considerably depending on the type and functionality of the machine you choose for your business or your company. Prices tend to start around 8,000 euros and can increase depending on several factors, such as the brand, additional features, and the machine's capacity.
Here we provide you with relevant information on this aspect:
Depending on the type and functionality of the machine: The prices of cash handling machines can vary considerably depending on the specific type and functionality of the machine. For example, basic intelligent cash drawers may have a more accessible price compared to more advanced automatic payment machines that offer additional features such as counterfeit bill detection or integration with point-of-sale (POS) systems.
Brand: Well-known and established brands in the market tend to have higher prices due to their reputation and perceived quality.
Additional features: Machines with additional features, such as counterfeit bill detectors, multi-currency handling capabilities, or integration with other systems, may have a higher price due to their increased functionality.
Capacity and speed: Machines with greater bill and coin storage capacity, as well as higher processing speed, tend to be more expensive due to their increased efficiency and performance.
After Sales Service and Warranty: The backing of good after-sales service and a solid warranty can influence the initial cost of the machine, but they can also provide peace of mind and long-term protection.
It is important to consider these factors when evaluating the cost of a cash handling machine and determining which one best suits the needs and budget of your business. By making a detailed comparison of prices and features, you will be able to make an informed decision that optimizes the value and functionality of the chosen machine.
Examples of cash handling machines in the market
Precisely, to help you make that decision, we have provided a detailed comparison of the main cash machines in the market below. Be sure to visit our reviews to learn more details about each one:
Are you looking for peace of mind in managing your cash?
Our reviews come from tests we have carried out directly with each machine, from user opinions and from interviews with manufacturers, distributors and users . We are the only ones on the market to provide unbiased reviews . Thanks to our partners, we have unique experience in this cash control machine industry.
We thoroughly test and review cash control machines, POS and back-office software so you don't have to. Our team is dedicated to providing honest, detailed reviews , along with unbiased comparisons and personalized recommendations.
We have evaluated a wide range of products with more than 20 criteria for each category, ensuring that our reviews are comprehensive and rigorous.
Trust VinciCash to make informed and strategic decisions that drive the efficiency and profitability of your business. Your peace of mind is our priority.
