Blog Posts - Brink's US

We all know that there’s no secret recipe for running a successful business. But there is an aspect of well-run business that can be misunderstood: making sure your cash is well-managed. It’s a component of running a business that’s often overlooked, but it can make a big difference in saving time and money. Check out three common misconceptions of cash management that often stop businesses from improving operations and cash flow.

Myth 1: Managing cash manually doesn’t cost anything

Do you believe that manually handling your business’ cash is more cost effective than an automated cash management system? You might be surprised.

As the saying goes, time is money. Consider how long it takes employees to count and bundle cash and physically go to the bank. These tasks take away from regular duties, like stocking shelves and helping customers. Without having to focus on cash-related tasks, workers can spend more time on more profitable responsibilities.

There’s also the cost of bank fees, including handling costs and deposit fees. And accessing working capital is out of the question until those funds clear the bank.

One way to reduce the cost of manual cash processes is Brink’s Complete, a cash management subscription service that includes a digital web portal, a secure Brink’s device, and transportation services. Brink’s Complete helps:

• Make cash handling easier
• Reduce trips to the bank
• Improve visibility into cash activity
• Provide next-day credit of funds

Myth 2: Cash is difficult to track

Two big benefits of cash are that it’s reliable and private, but many business owners and managers mistakenly believe that it’s challenging to track and gather valuable insights from it. And of course, if you don’t know where your physical cash is, it can be more vulnerable to theft, mismanagement, and underutilization.

The reality is that an automated cash management solution can track your cash from the moment it’s dropped into a tech-enabled smart safe to when it’s picked up by a cash-in-transit team, so you’ll never wonder where your money is.

Cash management solutions such as the Brink’s 24SEVEN web portal digitize a once-manual process that’s suitable for modern businesses. Wouldn’t it be great to get detailed reports on your cash so that you can spot trends and pinpoint information to make smart business decisions? With the right solution in place, you can do just that.

Myth 3: Self-managing cash is more efficient than using a third party

We get it. Sometimes it’s easy to just think that doing things yourself saves the anxiety of finding and using a vendor. But that’s short-term thinking. So yes, there’s cost involved in onloading your cash burden, but it can save time, money, and hassles in the long run.

Imagine how easy it would be if you could drop cash into a device in your store, and you could get next-day provisional credit for that cash. Or picture your employees ordering change in the denominations your business needs, and having it delivered right to your store. Those notions are far from just ideas, they’re realities. Brink’s Complete combines all the hardware, software, and services you need to streamline cash management.

Upgrade your cash management with the experts

Managing your cash well is a worthwhile way of investing in your business. At Brink’s, we’re revolutionizing cash management with digital solutions to make it easier than ever for you to improve your cash flow and profits.

Our focus is to make cash management simple, automated, and centrally supported so that you think less about cash and more about customers, pricing, merchandising, and selling. Reach out to Brink's to learn more about how we can help you bust the cash myths and enable your business to succeed.