Despite its decline, cash usage remains a vital element in the hotel and hospitality industry. We talk to the UK’s leading provider of cash management systems, G4S to learn more about the benefits a modern cash handling process will bring to your establishment.
Why cash handling is still important for the modern hotelier
Did you know that across the UK, cash is still used for around 20% of all physical transactions? Yes, one in five transactions continue to be cash based. Whilst it is true that cash usage has declined in recent years, ATM values have increased, so cash acceptance remains a necessity in order to effectively serve guests and visitors.
At a time, when household budgets are under more pressure than ever, people are actively managing their spending. Consequently, we see increasing numbers of people restricting their spend to cash withdrawn from an ATM. Therefore a secure and robust cash handling process is absolutely essential for the modern hotelier.
The management challenge
Given that cash flow is key to the success of any business, there is an essential need for hoteliers of all sizes to continually bank all cash takings. Today, cash is primarily banked via either a regular weekly Cash in Transit collection service or more frequent smaller deposits into a nearby bank branch or a Post Office. It’s fair to say that secure cash handling, processing and controlling cash flow remains a recurring headache for hoteliers. But it doesn’t need to be this way.
Meet G4S Cash Solutions
G4S Cash Solutions Ltd is part of Allied Universal Company, the leading global security company. G4S Cash Solutions is the largest UK payment solutions provider, working with the retail and hospitality industries, and banks, to provide the UK market with cash logistics and processing services. With over 3,000 employees, our network includes 21 purpose built sites strategically placed across the United Kingdom. Our teams work round the clock to offer a 24/7 service.
Introducing G4S Cash360
G4S Cash360 technology monitors our customers’ cash holding data and uses real data to activate cash collections so that the frequency of collection is aligned to the volume of cash transacted. We can even facilitate same day credit with a bank partner. This gives the hotelier peace of mind from both a security and speed of processing perspective.
A key metric for any Hotelier is their occupancy rate. Time spent in cash handling and reconciliation activities diverts valuable resources away from this focus. Cash360 enables greater automation of multiple cash counting activities, daily balance, safe checks and banking routines. This frees hoteliers to focus on driving guest satisfaction and achieving the highest possible occupancy levels. Cash360 is fully customisable.
The vast array of technologies available, combined with our unparalleled industry knowledge and our services, means that once our consultants understand your business, so we can start to design your future payment solution.
Please contact G4S Cash Solutions Ltd https://www.g4s.com/en-gb/what-we-do/cash-solutions
