Cash Automation
No modern hotel is complete without a cash recycler
Hotels and resorts don’t just host guests—they host their cash, too. Here’s how installing a cash recycler can keep cash-management safe, efficient, and cost-effective in the hospitality industry.
Checking in and cashing in: how hotels are still using cash
These days, nearly everyone checks into a hotel using a credit or debit card. That said, cash still finds itself flowing through other avenues in hotels and resorts on a daily basis. Whether it’s at the bar, the pool, front-facing shops, concessions, or the front desk itself, cash transactions occur throughout wide segments of the hotel industry—all over the world.
Hotels that deal with high volumes of cash can quickly find themselves overwhelmed by the cash-handling needs of multiple departments and employees throughout the property. At higher cash volumes, manually managing cash can easily lead to a myriad of issues for a hotel—including higher overhead, reduced cash visibility, the need for multiple bank vaults and associated audits, high CIT fees, delayed due backs, and lower overall cash visibility. The solution? Automation. The first step? A cash recycler.
The cash recycler: the front desk’s best friend
In hotels and resorts—where cash moves quickly at multiple touchpoints—cash recyclers can help business owners regain visibility to their cash while significantly reducing cash management overhead in the process.
A cash recycler is a specialized device that automatically accepts, validates, counts, sorts, and dispenses cash. Today’s more advanced cash recyclers also offer a host of additional automation features, as well as advanced analytics and connectivity options to help businesses gain better control of their cash. Below, we cover some of key benefits a cash recycler can bring to any hotel or resort.
Cash recyclers in hotels: the benefits
From cutting costs to freeing up labor, installing a cash recycler can bring a number of transformative benefits to hotels and resorts at any scale. Here are some of the most essential.
- Reduced house float. “House float” refers to the cash a hotel needs to run its day-to-day business. By leveraging manual cash processes to support multiple employee banks and departments, a large house float is often the result, which is inefficient and costly. A cash recycler allows a hotel to share its cash among all employee banks, substantially reducing its required house float.
- Improved cash visibility and accountability. All cash recycler transactions are traceable to individual employees via a unique PIN assigned to them. This enables a level of accountability that is unparalleled, particularly when measured against older, manual processes. Additionally, a cash recycler can be easily connected to a hotel’s network— enabling authorized hotel employees to have a bird’s eye view of all cash transactions and the cash currently assigned out to various departments. This level of visibility can help a hotel substantially optimize its cash usage model.
- Reduced cash-in-transit (CIT) fees. By re-using the cash it takes in, a hotel can substantially reduce fees associated with armored transport of its cash deposits, as well as delivery of its change fund.
- Reduced house bank vaults and associated audits. A cash recycler can eliminate the need for hotels to utilize house banks for individual cashiers. Such house banks not only require management and oversight—they’re also subject to routine audits for reconciliation and accounting purposes. Hotels can save substantial labor and overhead associated with such banks and related audits by utilizing a cash recycler as part of their daily operations.
- Optimized general cashiering role. Saving in-house labor associated with cash handling, a cash recycler can assume many of the duties previously relegated to a hotel’s general cashier role, saving the hotel thousands in annual overhead. With a cash recycler implemented, the general cashier’s daily responsibilities can be better optimized and redeployed to other, more productive, areas of the hotel.
Automation: the long-term resident that’s delivering exceptional ROI for hotels
Newer technologies—including cash recyclers, smart safes, and integrated checkout solutions—have proven to be an effective way for hotels to realize significant process improvements and achieve greater accountability in their daily cash operations. By enabling tighter controls, improved cash visibility, and optimization of their labor, hotels can now leverage cash to their advantage—and enjoy the rewards that come with it.
Sesami: your partner in cash
Help cash become competitive at your hotel. Experience the efficiency, security, and cost-savings of a Sesami solution. With over 350K devices deployed in over 90 countries—and a software platform that’s reimagining what’s possible for digital cash operations—we lead the industry in innovative cash-automation solutions for businesses at any scale. Delivering competitive strategic solutions tailored to our clients, our team has led numerous transformative projects in both financial and retail sectors worldwide. Our unwavering commitment to excellence, together with our drive to expand the possibilities of technology, makes us trusted partners in managing the complexities of today's digital world.
Sesami Solution Experts
The team at Sesami.io consists of innovative and skilled professionals with deep expertise in industry trends and technical knowledge. They have a proven track record of guiding businesses through numerous technology cycles, especially in the retail and financial sectors. Their work involves creating cutting-edge solutions that set new standards for how companies leverage digital technology. Renowned for their analytical skills and strategic insights, the team has led numerous transformative projects, positioning themselves as key influencers in the technology field. Their unwavering commitment to excellence and their drive to expand the possibilities of technology makes them trusted partners in managing the complexities of today's digital world.