The summer season is great for retailers, but that influx of cash needs to be properly accounted for and safely transferred from the store to the bank. There are certain cash handling trends that contribute to inefficiency and errors among stores. These trends, as identified in a March 2014 Federal Reserve Bank of San Francisco report,
It’s a common activity within the retail world: At the end of the business day, the manager tallies up the day’s revenue, gathers the deposit and drops it off at the bank. This normal, and seemingly safe process, is familiar to nearly anyone who’s ever worked in retail. Unfortunately, it can also offer opportunities for robbers and thieves if the funds are not properly protected.
After an item is produced by a manufacturer, it is shipped to the customer. This period of transit becomes an ideal opportunity for cargo thieves to strike. And these days, cargo criminals have a new tool of deception at their disposal.
This deceptive method became clear during an incident that involved the shipment of pharmaceutical equipment. To ensure that the contents of the shipments arrived safely and intact, the manufacturer sealed the container doors with high security bolt seals.
CONTROLTEK is a proud sponsor at the 2015 The Americas Cash Cycle Seminar (ICCOS), a premier global seminar for commercial cash management, distribution and circulation. Held in Fort Worth, Texas on December 7-10, ICCOS is a dynamic seminar that is connecting and educating the currency industry.
CONTROLTEK’s Director of Product Management, Kris Doane, will present, “What You Measure, You Can Improve,” Tuesday, December 8 at 11:20 a.m. This session will discuss how to utilize data to observe what is actually happening in your business and discover ways to improve critical processes.