The task of ordering banking and treasury supplies isn’t particularly glamourous but purchasing decisions have a significant impact on your business’s operations and bottom line.
With record inflation and the worldwide cost of handling cash already exceeding $300 billion per year, everyone’s looking to cut costs wherever they can.1 Precise and accurate banking and treasury supply ordering can save you money.
But it’s not just about saving money. Precise ordering also helps you manage productivity and efficiency better. By using a vendor that offers automated management systems, you can streamline your ordering process and increase data visibility. Automated management systems and need-based ordering can help reduce errors and ensure that you always have the right quantity of supplies on hand, without having to worry about overstocking or understocking. When you combine these systems and reporting with a vendor that can store supplies at their facilities and send them out as needed, you’ll ensure you’re only ordering what you need and will use, reducing wasted product, and wasted money.
The result? Less time spent on bank supply replenishment, and more time spent brainstorming new ideas and serving customers.
Accurate cash handling products purchasing means fewer deposit correction fees or less time spent tracking down lost deposits. The retail landscape can be unpredictable. But by being proactive and precise in your ordering decisions, you can better position your business to respond to changes quickly and appropriately.
The result? Less stress for you and your staff, and more time to focus on growing your business.
Being precise in your procurement decisions can help reduce the risk of fraud. According to a 2022 study by the Association of Certified Fraud Examiners (ACFE), small businesses with fewer than 100 employees had the highest median loss ($150,000), while the largest organizations, those with more than 10,000 employees, had a median loss of $138,000. This highlights the importance of taking proactive steps to reduce the risk of fraud in your organization. With security features on banking and treasury supplies you’ll have peace of mind that your cash is safe and secure.
The result? Fewer headaches and concerns about the potential of fraud and financial losses.
Being precise when ordering banking and treasury supplies might not be the most exciting task in the world, but it can have a significant impact on your organization’s financial health. By saving money, managing productivity and efficiency, anticipating changes in your stores’ needs, and reducing the risk of fraud, you can position your organization for success.
Ditch the aspirin! Discover how Treasury and Retailer Supplies from Vericast can make ordering retail banking supplies virtually effortless for you.
1 Deloitte, “Optimizing the Retail Bank Supply Chain”