Are you researching cash recycler cost? Good cash recycling machines can do wonders for your business and cash management, but — like any major purchase your business has to fork over money for — the cash recycler cost can be a real buzzkill. What’s a far bigger buzzkill, swallowing the cash recycler cost, just to realize the model you selected doesn’t meet your needs. In addition to researching cash recycler cost, you should also pay attention the to following factors:
Cash recycler machines can usually hold 5,000 bills. A high-capacity machine can handle about double that. Perhaps the sales man you talk to makes promises of a higher capacity than this; more likely than not, their claims are overstated.
Depending on your business practices and how often you make deposits, your cash recycler might overfill in certain denominations, and your staff will have to have to change the processes to make it work. The money that you spend on a cash recycler will be wasted money if your staff cannot use it as intended due to capacity limits. Perhaps the average business with short deposit cycles can make do with a cash recycler with a “normal” capacity, but it might not work for yours. Take a survey of how many bills you have at your peak, and determine if a high capacity counter is worth the money.
- Continuous Feed and Speed of Processing
Regardless of the total number of notes that your cash recycler can hold, they also have a limit of how many bills they can accept in one batch. Most of the time, a cash recycler can take about 150 bills in a bundle. After it processes, records, and sorts these bills, you can submit the next batch. Most of the time, this process takes about 60 seconds. For example, if you have 750 bills, this would take five minutes of wasted time in order to load them in. If you have a lot of bills, this could be an extremely time consuming task; and the whole point of purchasing a cash recycler is to save time, right?
If you typicality have high volume drops at a time, it might be worth the money to invest in a continuous feed cash recycler. A continuous feed cash recycler doesn’t have any batches, so if you have 600 bills to process, all 600 can be processed at once. In most cases, these models also process bills much faster than the batch job cash recyclers.
The physical limitations of your cash recycler is not the only consideration you should make. If your business runs on money (which we’re assuming it does), you are going to want to look for a cash recycler that plays nice with the other applications.
When you are looking for a cash recycling system that works with your other financial applications, your choices are using middleware integration, or looking for a system that has direct integration. With direct integration, the cash recycler talks directly to your other financial applications, with middleware integration, the data is sent to another application that other systems go to to get it. There isn’t necessarily a wrong answer, both solutions have their strengths and drawbacks.
One factor to think of is how your other systems interact with each other and what your future plans are. Using a middleware solution gives you the flexibility to choose different applications in the future, with confidence that it will still work with your cash recycler. If you use a direct integration solution, you’ll need to make sure any other applications you use in the future will work with your cash recycler.
To Sum it Up
Using a cash recycler is a great choice to improve operations and efficiency in your business. However, cash recyclers aren’t your fairy godmother. Investing in a cash recycler isn’t going to meet all of your needs if you don’t take the time to determine what your needs are and make sure that your cash recycler meets them. Considering what bill capacity you’ll need, how many bills you’ll be processing at a time, and what other systems you need your cash recycler to interact with is important for finding the right cash recycler for your business.