By shifting focus from cash and automating the routine activities of tellers, your credit union will be able to hire a different kind of employee – one whose skills are better suited to customer service and cross selling. A lot of time is spent each day making sure that teller drawers are in balance and that cash is accounted for both physically and electronically. Sharetec’s Cash Management streamlines both vault cash and teller cash.
Cut the cash counting and connect with your members…..
Cash dispensers and recyclers take time spent counting cash for members and utilize it for time spent listening and interacting with your members instead. Besides improving the members’ perception of better service, talking with each member can also lead to discovering what additional services they would like to get from your credit union. This in turn increases the value of the relationships with members.
Teller Cash Inventory
“Balanced to the Penny” is a cliché that many don’t truly appreciate until they have been a teller for a day. Handling cash and coins throughout the day as it is exchanged between tellers and members requires 100% accuracy and nothing less. Balancing cash at day end is the most tedious transaction for your tellers and is their single largest headache when out of balance. Teller Cash Inventory makes balancing easier for your tellers, because it keeps a detailed record of exactly what cash and coin was exchanged between your member and teller and the exact denominations. When your teller is out of balance, she will know the exact denomination needed to accurately balance.
Keeping your vault balanced can be a challenging task, especially when cash is being transferred to and from tellers and branch locations. Unless you are unique, you are most likely relying on a manual ledger that is kept in the vault where an employee must manually enter the amounts transferred in and out of the vault – the same entries that are subsequently entered into a general ledger system. Sharetec’s Vault Balancing automatically updates your teller drawers and the vault balance when cash is moved. You will know the exact denominations that are in both your teller drawers and vault and any cash that is in transit between your branches or corporate credit union.