By Mashiat Maswood, Marketing Coordinator
Barcodes have become the standard across many different industries to automate data collection and eliminate human error for enhanced information accuracy. For example, in the shipping industry, barcode labels are a fundamental part of the delivery process, as all parties involved can track and monitor packages sent to a destination at any given time.
Unfortunately, the same cannot be said for retail cash deposits and the tracking of cash and checks. While the majority of retail deposit bags are manufactured with a barcode, the technology remains largely unused. Our SureTraxx DT™ system bridges this gap by incorporating the barcode for enhanced tracking. When each new digital deposit ticket is created, the store scans the associated deposit bag into the program, which assigns it to that specific ticket—the deposit bag barcode number automatically becomes the deposit ticket number. This feature unlocks greater visibility and efficiencies as your deposits move along the cash supply chain.
We’ve outlined three powerful benefits that retailers and their banking partners can expect to see upon using SureTraxx DT and its barcode integration:
Minimizes Cash Handling Delays
SureTraxx DT’s barcode technology speeds up the receiving and credit functions at the bank. If your bank utilizes SureTraxx DT, they can cut their processing time in half by scanning the barcode of the deposit ticket instead of manually processing each traditional ticket into their system. Furthermore, if an unidentified bag arrives at the bank, our barcode integration enables them to simply scan the deposit bag to access all of the deposit ticket data. This eliminates lengthy investigations, excess research fees, and delayed credits to your account.
Provides Real-time Deposit Updates
Unlock greater cash visibility to better manage your operating capital and cash flow. SureTraxx DT provides real-time status updates every time a deposit bag is scanned along the supply chain. Each scan event1 generates an immediate update to your digital deposit history, providing valuable details for your teams (e.g., pending departure, in transit, processed, completed, etc.). As opposed to using credit-aging reports to anticipate incoming funds, your Treasury department will be empowered to make financial decisions based on a more accurate cash and coin position.
Mitigates the Risk of Employee Tampering
Employee theft plays a significant role in retail loss prevention. SureTraxx DT helps to deter theft by using the deposit bag barcode number as the deposit ticket number. Once the ticket is created in the system, the number can no longer be edited. If the deposit bag is replaced after the fact, the mismatched numbers will ruin the integrity and accuracy of the deposit. This feature serves as an added security measure, discouraging employee crime and experimentation during the deposit preparation process.
Retail deposit bags are currently manufactured with barcodes. SureTraxx DT’s barcode integration will enable you to unlock newfound cash visibility without reinventing your established deposit procedures.
Please contact our team of experts to see how SureTraxx DT can enhance your operations today.
1Retailers can use SureTraxx DT without their bank or armored carrier being integrated with the program. Retailers can expect to receive many significant benefits regardless of their partners’ involvement. However, for retailers to receive status updates along the supply chain, their bank must be integrated with SureTraxx DT.