This article is brought to you by Cash Depot.

Smart safes have myriad benefits when compared to traditional cash management, says Sean Burke, CEO of Cash Depot. They cut down on time spent counting bills, reduce human error or theft from manual processes and keep cash stored in the store more secure between pick-ups, increasing security measures.

“But traditional smart safes still have their disadvantages, and they only partly solve about half of the cash management equation,” said Sean Burke, CEO of Cash Depot. “Smart safes revolutionized security and accuracy, but only handle the storage aspect. They are not fully equipped to optimize your store operations, drive foot traffic or bring in more revenue. While your cash sits securely locked away waiting for armored car pickup, what revenue opportunities are you missing?”

According to Burke, smart safes can’t transform cash deposits into active revenue streams, generate more customer interaction and spend, turn deposited funds into ATM withdrawals, or create financial services opportunities for customers or the community.

BANK IN A BOX is more than a smart safe, he said—it’s a cash recycler, meaning money deposited into the machine can then be redistributed to customers who use it as an ATM. BANK IN A BOX also serves as a financial kiosk, offering financial services including consumer deposits, bill pay, mobile and prepaid card top-ups, money transfers and more. This allows retailers to generate revenue from such services by charging transaction fees, said Burke. More importantly, it allows them to offer critical financial services to their customer base, enhancing guest experiences and attracting more foot traffic.

Stores that offer all of those services (smart safe, ATM, and financial services) usually have multiple vendor partners to manage, including the smart safe provider, the armored carrier, the ATM operator, and a variety of financial services providers.

“BANK IN A BOX offers all of those services through a single provider and handles all of the vendor logistics—ATM services, cash pick-ups, and other financial kiosk operations,” said Burke. “This reduces the vendor burden on the retailer and can save time, floor space and costs.”

Smart safes serve their purpose for security and accuracy, he added, but don’t provide enhanced customer services. “Smart safes are sophisticated storage devices in an era needing integrated financial solutions,” said Burke. “Why settle for storage when you can have so much more with BANK IN A BOX?”

This is part two of a two-part series from Cash Depot. Read part one here.