What challenges await the cash handling industry?
The decreasing number of cash transactions is not the only challenge that companies providing cash handling services have to deal with in order to be able to operate on the Polish market. What is the future of the industry? What changes should you start preparing for today?
Shortage of skilled workers
Although it might seem that the biggest challenge facing cash handling companies is the increasing volume of transactions with payment cards and telephones, cash still plays a significant role in the economic circulation in Poland. So for now, companies offering money escort services and cash deposit machines cannot complain about the lack of orders. This does not mean, however, that each entity in this industry has a bright future. Much depends on how the company prepares itself to the challenges ahead.
One of the main problems reported by the industry is the lack of labor. It is difficult to find suitably qualified employees who have a firearms license on the market. The ability to use a weapon, although crucial, is not the only requirement for candidates for the position of an escort. High physical fitness and the ability to work in a group are also important. Contrary to appearances, the work of an escort is a team work.
Not surprisingly, companies are reporting difficulties in finding the right staff. However, in order to function properly and ensure the continuity of services, companies must have the right employees. The solution to the problem of limited access to qualified staff may be a system of training and funding. In this case, the countries of Western Europe and Japan can be seen as examples, where cash handling is a modern sector with a high share of well-trained employees.
The use of modern technologies
The cash handling industry is undergoing dynamic transformations. Modern technologies have an increasing influence on the shape and quality of the services provided. What should you expect? Above all, the further progress of digitization. The use of robotics and Big data in the industry is also gradually increasing. This leads to the professionalization of cash handling and transport services and allows them to be better adapted to the individual needs of customers.
Data analysis, although tedious at times, plays an increasingly important role. It allows to define, among others where the risk of a crime (convoy attack) is greatest. With this knowledge in hand, the company can better tailor protection measures, without having to spend more. As a result, the enterprise is able to provide a greater degree of security.
Emphasis on reducing costs
Another challenge that cash handling companies face is the growing pressure from customers to reduce costs. This forces enterprises to look for new solutions in order to lower prices while maintaining high quality of services. Without the use of modern technologies, it seems impossible to maintain the competitiveness of the offer. Companies that previously focused on development and specialization are now taking a heavy toll. It is worth following in their footsteps.
The main players in the cash handling market in Poland are constantly improving the processes related to cash handling and management. For this purpose, they use various solutions. What? For example barcodes, electronic messages and GS1 standards. This ensures the automation of the process, increases the accuracy of the data, and also improves the inventory. It also allows you to reduce costs, and thus cope with pressure from customers.
The dynamic transformations that the cash handling industry is undergoing force companies to take specific actions. The response to challenges must be firm if enterprises want to continue to function efficiently. Some enterprises decide to consolidate services, some specialize in their narrow spectrum. All this to adapt to changes and individual customer needs.