Cummins Allison outlines the cost saving and efficiency benefits of cash management solutions

As gaming properties continue to bounce-back from the effects of recent challenging economic times, lower discretionary income of players and less money are spent on the casino floor. Cummins Allison explains how casino operators can make the case for investment in advanced cash management solutions that support cost saving strategies.

A quantifiable return on investment

When capital is at a premium, efficiency improvement measures sometimes come at an opportunity cost to the player experience. As a result, it’s imperative for casino operators to seek out technology solutions that provide a quantifiable return on investment (ROI) – these are the solutions that will get first “dibs” on investment dollars.

An excellent area for consideration is advanced currency and ticket processing solutions that can prove their ROI quickly. For example, by deploying next-generation currency handling equipment it’s possible to process 1,200 notes per minute out of a casino’s vault room, compared to a general rate of 600 notes per minute; similar gains can be made in the kiosk room – increasing processing speeds from 1,000 notes per minute to 1,200 notes per minute. Using advanced currency sorters, it’s possible to reduce the number of employees and time – sometimes by half – required to process a soft count drop.  With these solutions in place, tasks are accomplished faster, without sacrificing accuracy, and employees can be redirected to higher-value tasks within the casino. 

Accomplish more with less

From a technology perspective, multi-functional currency and coin handling solutions provide casino operators with a way to accomplish more tasks with fewer employees, dollars and less time. And, with the ability to use a single device for multiple applications or across multiple departments the cost of investing in the technology itself is largely offset. Multipurpose devices can be designed for self-service use, attended use, employee use or any combination. They can be placed on the gaming floor, in the back office or anywhere in between.

For instance, self-service coin counters – such as those found in financial institutions or retail grocery stores – are gaining popularity in the gaming industry. These coin redemption machines not only provide a valued-added service to patrons (e.g. a convenient place to redeem their loose change), but they also serve as a means for cashiers to automatically count down their coin bank at the end of their shift. Casino operators may also choose to charge a fee for coin redemption services, yet another way to generate revenue to the casino floor. Savvy casinos are also using their coin counters to run on-screen advertising campaigns that tie to current promotions.

Likewise, investing in multi-function back-of-the house currency processing solutions that are more efficient than ever before can free up additional funds to spend on the front of the house and continue to improve their patron’s experience. Multi-use devices that can process currency, checks and tickets on one machine enable employees to execute each of these tasks at a higher speed and with greater accuracy. Savings are realized from reduced equipment maintenance and less employee training.