8 Cash Handling Best Practices in Retail

Cash is the engine that runs your business; you use it to fuel growth, buy new stock, and invest in your employees. But when you’re focusing on the nuts and bolts of running a company, it can be difficult to give the right amount of thought and energy to cash management.

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The Importance of Operational Efficiency for Retail Outlets

In a world where nearly half of the millennial generation is willing to pay a premium for same-day delivery, brick-and-mortar retailers are faced with the challenge of figuring out just how to compete with global firms for a customer’s business. In order to respond, businesses first need to understand the effect operational efficiency has on their bottom line and the role it plays in keeping customers coming back for more.

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Retail Loss Prevention: Training, Tech, and Tools

Like a steadily dripping faucet that slowly raises your utility bill, the average business lost 1.33 percent of its overall sales due to retail theft. While this figure may not seem like much, for a retailer bringing in the average revenue of $390,000 a year, that’s more than $5,000 that it may never get back.

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