When you run a business that performs cash transactions, your business is at risk of employee fraud. Each time employees handle cash, they will face the temptation of skimming and theft. For business owners, it can be difficult to think about employees violating their trust and stealing from the workplace, but the reality is that internal theft is a major issue in the U.S.
How Common is Employee Theft?
According to the Better Business Bureau, about 30% of businesses failures are caused by employee theft. Theft by employees costs U.S. businesses $50 billion annually, according to a report by Statistic Brain.
It is nearly impossible for most businesses to eliminate cash transactions entirely. In most cases, employees must have access to cash drawers or back offices where cash is kept. It would be extremely costly to keep an eye on every employee at all times. So, what can you do to help your business prevent internal theft?
Effective Cash Management Through Cash Handling Products
The best way to prevent internal theft is through effective cash management. Rather than leaving currency handling to individuals, it is much more effective to count, sort and track cash through currency handling products such as Fujitsu’s GSR50 bill recycler.
With multiple products and configurations available, Fujitsu’s line of reliable currency handling products can perform a variety of tasks to be used at self checkout, under the counter with an attendant, at front of store or in back office. Regardless of use, cash handling technology can greatly improve security for businesses. Cash handling products give business owners greater oversight of money, including who has access to cash. This helps prevent fraud and theft.
Additional Benefits of Currency Handling Technology
In addition to improving security, currency handling products help reduce errors made when counting cash and improve customer service by speeding up the transaction process, thus reducing queues and allowing labor to be used elsewhere within the business. With best-in-class bill validation, Fujitsu cash handling products capture an image of each note and return counterfeit currency to the user. Fujitsu’s currency management devices help business owners reduce costs and redeploy labor.
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Fujitsu Frontech North America offers configurable, reliable currency handling products designed to improve security and reduce costs. For more information about how these cash management solutions can help your business, contact Fujitsu Frontech North America today at (877) 766-7545 or [email protected].
