This article is brought to you by Cash Depot.

Without a cash management system, retailers pay extra for bank fees—the average retailer spends around $37 in bank fees for deposits over $5,000—and armored carrier fees, among other expenses, not to mention the shrink that can occur when cash is manually counted and handled.

But investing in cash management can be costly for many retailers. While cash management systems can save money on labor and reduce shrink by increasing cash counting accuracy, they still incur monthly expenses related to equipment, software, maintenance, bank fees, provisional credit and next-day deposit credit fees.

“And the more labor, accuracy and automation you need, the more it is going to cost,” said Sean Burke, CEO of Cash Depot. “But cheaper isn’t always better, and ‘affordable’ or ‘low cost’ cash management systems may not necessarily get the job done. It’s worth it for retailers to invest in a high-quality cash management system, but it can be hard to justify the ongoing expense based on future savings alone.”

“This is why we have taken cash recycling technology to the next level by maximizing those savings and adding a consumer-facing component that turns our cash management systems into a profit center for our partners,” he noted.

Less expensive cash management systems offer automated reporting, deposit preparation and next-day deposit credit if a retailer chooses to opt in. But they don’t offer start-of-shift preparation or small bill change, said Burke. So, bills are still required to change hands between employees.

They also usually come with single-note acceptors, Burke noted. And the time required to individually insert bills means store managers often still count cash manually—using the smart safe only for end-of-day deposits.

“Cash management systems that offer complete automation with bulk cash acceptors and recycling cost more but generate important savings to the operational bottom line,” explained Burke. “They provide faster, more accurate cash counting, register start-of-shift and daily small bill change and replenishment dispense and complete records of all deposits and dispensed funds, which helps track and manage cash and reduces employee hands on cash to near zero.”

But Cash Depot’s BANK IN A BOX takes that savings a step further—providing retailers with another way to make money, said Burke.

“The system serves as a financial kiosk for your store’s customers offering multiple financial services that draw in new kiosk users that pay to use the machine’s many additional services,” he explained.

BANK IN A BOX is a non-traditional, multi-denomination ATM—boosting transaction volumes an average of 2-3% or more, Burke noted. In addition, it provides additional consumer banking services such as cash deposits, purchasing and selling Bitcoin, and paying bills. Even better, it gives retailers the flexibility to add and benefit from new financial applications as they roll out.

Ultimately, said Burke, the money made from commercial deposits and consumer banking will grow to offset—and eventually outpace—retailers’ monthly cash management costs.

Dive into more content about cash management sponsored by Cash Depot. Read about cash management and recycling; the hidden costs of cash management, how to save on cash management, provisional credit, interest and fees; how to reduce shrink and external theft; and how to choose the right cash management system.