Sure cash recyclers can be big investment for a small to mid-size financial institution. That's exactly why it's important to get the facts, count the cost, and understand the benefits returned. Did you know that a cash recycler offers the capacity to cover the labor of nearly 1.5 employees? Increased cash management efficiency is the biggest advantage that cash recyclers offer financial institutions. When banks and credit unions select the right machines to meet their needs, a cash recycler can actually pay for itself in short order (18-24 months or less).
What kind of ROI can I expect? What kind of results can a small to mid-sized financial institution expect?
Cash recyclers can dramatically reduce operating expenses and speed up cash-in and cash-out transactions. They also reduce cash levels in drawers, reducing exposure and can eliminate the need for cash drawers altogether.
Here's what you can expect a cash recycler to do:
Institutions have reported 30% to 50% efficiency gains with the use of a cash recycler. When it comes to time-consuming vault transactions, a cash recycler manages the process in single control what can typically take two employees 10-20 minutes to accomplish. The cash recycler also saves an average of 35 seconds per cash-out transaction, which is great for those peak times when the lines are backing up.
Whether a financial institution is looking to change its customer experience format, or is positioning for growth cash recyclers are an investment that makes good business sense. The biggest question remains, "Which cash recycler makes the most sense for your institution?"
Carefully assess your needs and how the right cash recycler will integrate with the software structure and physical workflow of your banking processes in order to determine where you will receive the best value per dollar spent. Consider how each machine will function for your employees and how it will accommodate improved customer service. While this ROI may not appear as obvious on a spreadsheet, considering these important issues may ultimately make the biggest difference in the long run. A little investigation prior to purchase can pay huge dividends -- not only in terms of actual money saved, but also in terms both of customer and employee satisfaction.
The Arca CM-18 versus the CIMA 7016
From a practical financial standpoint, cash recyclers make perfect sense for credit unions and small to mid-size banks. They become the behind-the-scenes workhorse to perform the important but often monotonous function of processing, verifying and securing cash. That's why the biggest advantage any financial establishment will realize with the addition of a cash recycler is greater efficiency of labor and enhanced productivity. Select the right machine and you will free up your staff to do what they do best; address the more complex issues of your customers that require and deserve direct contact with your employees.
If the machine being aesthetically pleasing is paramount to your institution based on branch design then I would recommend going with the CM-18. If you are looking for greater cash management capacity, faster deposit processing and larger capacity for less money than the CIMA 7016 may be your solution.