Grocers: Handle Cash Better to Reduce Costs
New and nontraditional competitors, razor-thin profit margins and disruptive events are remaking the grocery marketplace. To satisfy customers and grow revenue streams, grocers are seeking new ways to compete effectively in this changing environment. Most grocers are taking a long, hard look at their operational costs to find new cost-cutting opportunities to increase efficiencies and reduce costs.
One area often overlooked is the handling of cash. In fact, many grocery stores continue to use the same cash management practices that have been in place for decades. Yet, by streamlining cash handling processes and making modest investments in new cash counting technology, grocery retailers can reap significant time and labor cost savings.