Many people view money-counting machines as luxurious and unnecessary devices. They believe that what they can do on their own, why waste money on such luxurious machines?
For instance, some small business owners believe that their employees have spare time to count and organize the bills. Or as they don’t need to count large amounts of cash daily, they don’t need to invest in such machines.
While some argue that it is a handy and productive device to own, it has tons of undeniable benefits.
We can’t deduce a solid conclusion because it depends on your business model and needs.
Maybe, you are a superstore owner, and you deal with large cash, but your employees can easily manage it on their cash counters.
And maybe, your business often gets large bills, and using money-counting machines will save you time, resources and money.
But what we can do to assist you in your decision is we can provide you with the benefits of using these machines.
With these benefits, you will have a clear vision of whether or not using money-counting machines is negatively affecting your business and if you really need money-counting machines for your business or not.
In a nutshell, if your business runs through cash and coins, and you want to leverage your accounts, you should learn the following benefits of using money counters, and these benefits will make you realize if you need money counting machines or not.
We also have an extensive money-counting buying guide. Do check it out if you need some assistance prior to buying.
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8 Reasons You MUST Buy Money Counting Machine
Here are the top eight benefits of using money-counting machines for your business.
Makes Counting easier
The sole reason money counters were introduced to the market was to make money-counting processes easier.
Unlike the traditional way of counting, the most hectic effort of using a counting machine is to put money in the hopper and press the start button.
For real, it’s that simple.
But if you are not using. Sometimes, it can be hectic like this.
One of my friends works at the convenience store. And once, suddenly, the store’s money-counting machine broke down during her night shift. Sadly, they didn’t have any spare ones, nor could they arrange any immediately.
So she had to do all the counting manually – all by herself.
You know the moments when you realize the worth of something once you are deprived of it.
That dreadful night was that moment for her.
She realized how she – all this time – ignored the wonders of the counting machine and how bad she was at calculations.
The point I am trying hard to make is if your business or employees haven’t yet benefited from the counter machines facility.
Then you really are missing out.
It’s clear from the story that not using money counters is also a waste of resources, as you need employees to manage the task that a single lifetime investment can handle in a couple of minutes.
If you want to buy the best money-counting machines, here are the 10 best money counters for your business.
The comparatively expensive machines we have picked on the list are one-time investments.
Detects Fake bills
As it’s clear, money counters make counting easier. But it’s not the only reason to use money counters. This one is even bigger.
Most money-counting machines have a built-in feature to detect fake money. Because counterfeit bills everywhere are in circulation. And have become so advanced that the human eye can’t detect them.
If you check manually, you will surely be a victim. Due to counterfeit bills, over 3 billion dollars are lost in the United States alone.
Home Depot reported losing $387,500 in the past few years due to counterfeit bills. That’s a huge loss.
But money counting machines have made life much easier with their counterfeit detection mechanism since you no longer need to worry about being scammed.
As discussed in the article How do money counters work, it uses Ultraviolet detectors, Infrared sensors, Magnetic sensors etc., to detect and spit out counterfeit bills during the counting process.
Here is a simplified way of how the counterfeit detection mechanism works.
Real modern bills come with a fluorescent strip embedded, which is invisible in daylight but visible if the bill is viewed in Ultraviolet light under a certain frequency.
If the strip does not glow when money is rolled in the counter bills, the counter machine rejects the bill based on anti-counterfeit measures.
Some counting machines are equipped with infrared sensors. However, they are a little costly; they are the most reliable.
The sensors then throw the infrared waves on the bills and determine if it’s real or fake through infrared absorption or reflection mechanism.
Money produced by central banks has magnetic threads sewn into them. And cash counting machines are specially designed to read them.
Counterfeit bills which lack these defensive mechanisms detect the bill and reject them.
So these are some anti-counterfeit detection mechanisms that these AI tools use. All of which are impossible to detect from the naked human eye.
In a nutshell, if you don’t want to be a victim of scams and want to save your hard-earned money, introduce a money counter machine to your business as soon as possible.
Saves time by up to 75%
Money counter machine saves time by up to 75%.
No one knows this better than you. Manual counting using pen and paper takes eternities to finish. And “time is money” – literally!
The precious time that your employees or manager (depending on whom the counting job falls onto) could serve for customer service, other useful tasks, or maybe take off a little early.
But since you refuse to invest in a handy money counter machine. The 30 min work is extended to 4 hours of hectic work.
If we calculate the labor wage, not using money counting machines cost you $1930 a month extra due to extra working hours.
With that money, you can get one of the best money counters on our list.
Here is how fast money-counting machines often are.
Many counting machines have a counting speed of 1200 bills per minute; some even have 1900 bills/per minute. Which – if we do the math – is equal to 20 bills per second or 31 bills per second (for 1900 bills).
No human can ever think of achieving this speed, let alone count.
In a nutshell, we have tested that the average money counters save you over 75% of the time you spend counting money manually, and still, it’s risky, as discussed earlier.
100% Accurate Counting
Humans are prone to make errors. It is inevitable.
And what makes you believe you won’t experience it during manual counting?
The traditional way of counting one note at a time is jarring and off-putting. And you might have come across moments like 97, 98, 99… 99, or was it 98. And now you have to count all over again. Most of the time, you go along with 98 and register the (wrong) amount.
One of the biggest flexes of using AI (Artificial Intelligence) is its 100% accuracy.
You put the money in. It counts all the money with 100% accuracy and little to no energy waste and stress on your part.
Cash counting machines reduce errors massively.
Makes Organization Easier
This feature is extremely critical if you work in a bank and organize tons of money for deposits.
Money counting machines have a batching feature where you can set the number of bills you need to batch.
Let’s say you want to have batches of 50 bills. Set the number to 50. The machine will count the bills up to 50 and stop immediately.
Pick the bills up, and a new batch will start forming.
This quick and easy organization feature set fire to the cash-counting market primarily because it made counting easier, more viable, and more accurate.
Counts mixed Denomination Bills, Effortlessly.
The counter machine is equipped with the feature of counting mixed denominations bills effortlessly. It is enabled with color imaging sensors, and they detect which denomination bills are placed and count them accordingly.
Distinguishing between denomination bills can become confusing sometimes, especially if you’re dealing with US currency, as most of its bills, for instance, $5 and $10 bills, look so alike.
This mixed denomination bill detector is a handy feature as it saves a lot of time and effort.
Has Multi-Currency Counting Software
If you are a banker or your business involves international clients, this is a call from heaven to get your hands on a money counter machine ASAP.
The multi-currency counting feature can automatically convert various currencies into your desired currency, or you can choose one manually.
This feature is specially tailored for bank uses, but many businesses dealing with international clients can also benefit from it.
Business is all about finding ways to level up the productivity game; if it wants to survive in this condensing and competitive world.
And if you are a business owner whose income flows through cash, you should install a money counter machine. It won’t only make your counting easier, but it will also elevate your business’s overall productivity.
Your employees will love it.
Your employees’ time and energy counting the non-lasting bills can be invested in something productive like customer service.
Or even if they don’t invest the time into something business related, the increased morale of your employees goes a long way since they don’t have to sit for long hours doing tedious cash counting.
Internal theft can be hugely reduced as the employees will have the knowledge that money will be counted after every shift. This has been a huge issue; thankfully, we have combated it through a simple technological advancement.
If you go through the undeniable benefits of using money-counting machines, you will realize that the cash-counting machine is the most productive investment ever for cash-running businesses. It saves you money in the forms of time, resources and money itself.
Because the benefits are inevitable and insurmountable by manual human counting.