Intro to the Automated Till Register
Running a cannabis dispenser is not easy (and not cheap!).
One of the problems, as it is mentioned in the article (*) is the payment problem. It seems, around 70% of payments in the industry are still cash-based (please understand in the right way – I suggest it as a pro, not as a con!
The author of (*) has listed problems and disadvantages of cash payments at the dispensary.
In the following posts, I am analyzing for your review of how Automated Till Register (ATR) solves all these problems? In posts, Italic marks, the statement of the author (*).
“Physical cash also presents a logistical and security challenge. Collection at point of sale becomes more prone to mistakes and inaccuracies as humans are responsible for counting and processing thousands of dollars in cash every single day.”
ATR completely solves the problem. The device precisely counts, valuate, authenticates, and securely stores the notes in the strong box 9 or UL level safe 0 and … counts and pays change in notes and coins).
“Closing the books at the end of the day also becomes a more complicated endeavor, as managers will have to revisit every transaction to figure out discrepancies. Transactions are also slower when you need to count cash and supply change.”
ATR is deeply integrated with the POS back-office system. There the end of shift and of the day reports require just hit a button. ATR completely frees a cashier from the manual cash counting!
“Perhaps most impactfully, having cash around greatly increases security concerns and costs to transport cash. Then there’s the issue of access to banking to deposit that cash. You will need to have large and costly vaults, and this puts profitable dispensaries at higher risk for crime.”
ATR completely removes cash from the desk, minimizing the danger of robbery. The cashier in fact is not able to reach the cash secured in the machine without additional authentication by the manager. An only a small part of the cash is located at recycling drums and is accessible to the manager. The biggest part of cash is stored in the deposit/ transportation cassette and is accessible only to a CIT company. Our devices can hold over 2000 notes in one cassette, which eliminates the necessity to schedule frequent CIT visits.
“Beyond security and logistical cash management considerations, there’s also a component of personal safety. As COVID-19 reminded us, cash is dirty. A physical dollar bill can carry pathogens and diseases. This is another reason why there’s a renewed desire for touchless, mobile ways to pay for cannabis products.”
First of all, the statement is wrong and is based on the old and wrong statement of the World Health Organization (WHO)! WHO has later stated cash is not “dirtier” as many other things around us. There are also many pieces of evidence credit cards and EFT-POS PIN PADs are even dirtier than cash itself. Second, ATR allows implementing the “self-payment model”, when the cashier doesn’t touch banknotes at all! In this case, the customer itself inserts cash into the device and takes the change!
“Despite the risks of being a cash-only business, cash is an unavoidable reality. Even if you offer other forms of payments, some people will still use cash so make sure you understand best practices for dispensary cash management.”
We completely agree with the statement! We also would like to add that the ATR IS an ESSENTIAL TOOL for EFFICIENT cash management for the dispensary business.