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Cash Management Strategies

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Check out this PPT to learn about strategies that casinos need to avoid for better cash management. – PowerPoint PPT presentation

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Title: Cash Management Strategies


1
Cash Management Strategies that Casinos Need to
Avoid
Casinos or gaming establishments need to handle
cash worth millions of dollars on a daily basis.
Managing the cash flow efficiently at a casino
can, therefore, be difficult. Casinos need to
implement the right cash management strategies to
store, count and organize cash. Installing
automated cash management systems whether you are
in San Antonio or any other area can help in
managing cash efficiently and avoid the chances
of theft or inaccuracy. In addition to installing
an automated cash management system, there are
certain other factors that casinos need to
consider to ensure that cash is handled
efficiently.
2
Maintaining Large Cash Deposits In-House
Many casinos maintain a large sum of cash on hand
to pay the big winners right away. Storing a lot
of cash, however, leaves gaming establishments
vulnerable to shrinkage, theft, and misplaced
money. Instead of keeping a large amount of cash,
casinos can store only the amount required for a
day. If the company policies allow, casinos can
give out a cheque or a voucher to the winners and
avoid storing a large amount of cash.
Additionally, casinos can deposit cash in the
bank on a regular basis for easy and efficient
cash management.
3
Using an Outdated Cash Management System
Many casino owners make the common mistake of
using an outdated cash management system. Comfort
and reliability are the two main reasons casinos
prefer to stick to the same cash management
system. The owners, however, need understand that
the advancement of technology has made it
possible to access outdated cash management
systems making you vulnerable to theft.
Installing the latest and advanced cash
management systems help you to avoid any criminal
activities. In addition, ensure that you
frequently update the cash deposit safes to avoid
the risk of being scammed by tech-savvy
fraudsters.
4
Double Counting the Cash
Casinos typically follow the strategy of double
counting all their daily counts to reduce the
chance of human errors. Double counting the cash
is time-consuming, especially when it comes to
handling large volumes of cash. Installing smart
safes in your casino eliminates any chances of
human errors, optimize the utilization of your
resources, and ensure accurate cash management.
Automated cash management systems also enable
employees to dedicate more time to customer
service and other business tasks.
5
The Bottom-line
Installing a smart safe at your casino is the
most effective way of cash management. Smart
safes not only provide better security but also,
help to count and validate funds. They come
equipped with high quality bill validators that
offer the highest level of first-time bill
acceptance and exceptional counterfeit detection.
Cassettes help to secure counted funds for easy
transportation and deposit in the bank. Today,
companies offering cash management services
manufacture smart safes that are designed and
constructed to rigorous standards aimed to
protect each point of access, thereby, reducing
any risks of theft.
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