As essential businesses, car dealerships and auto parts stores must be ready to accept all forms of legal tender, especially cash. Efficient cash handling is a necessity because these merchants serve a broad spectrum of consumers—from the banked to the unbanked to entrepreneurs who operate cash-intensive businesses and to those who just prefer to pay with bills. However, the cost of handling cash can be high when you consider the labor, time, potential for human error, and security risks involved.
A widely shared stat from IHL Group suggests the average retailer spends 9.1% of the value of their cash transactions counting, recounting, auditing and depositing cash. How is your business managing these costs?
The car industry is ripe for automated cash handling. Through cash automation, dealerships and auto parts stores can optimize and better secure their cash operations, while giving time back to their valuable employees.
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