Technology makes counting cash faster and easier

Essence Cannabis Dispensary in Las Vegas ranks as the #1 dispensary in Nevada by Business Insider and serves as the only dispensary on the Las Vegas Strip. Offering both medical and recreational marijuana, the company operates three dispensaries and one cultivation and production facility in Las Vegas. The dispensary accepts cash as its only form of payment both in store and via delivery. And while the director of operations is one of only two employees allowed to touch and process the currency, the dispensary recognized that accountability wasn’t its only challenge when processing payments.

“We had currency counting machines in the past, but between human error and the physical time it took to count the money, we quickly realized that we need a more efficient solution,” said the director. “By integrating the JetScan iFX i200 money counters with receipt printers, we were able to reduce the total count time from four hours per day to one hour every other day.”

A growing business requires a more advanced solution

Cash operations management recalls that there were many problems with the old counting process. “The margin for human error was quite large. With the old machines, not only did counting take as long as 4-5 hours, but there also were multiple accounts of human error. Things like a $5 bill getting mixed in with the $50s prior to being counted could really mess with our numbers.”

The need for a more efficient, accurate solution was growing. For starters, Essence Las Vegas recently received eight new dispensary licenses in Nevada and three cannabis licenses in West Hollywood, California. In addition, the operations director’s role began to evolve. “My position morphed into a much bigger role where I spend most of my time on growing our company and submitting applications throughout the country. It was hard to keep up with the day-to-day counting of drops and reconciling our safes. As one of only two employees allowed to conduct this task, this shortage of time meant a delay in currency processing.”

Multiple needs for one machine

Just like many other cash-based businesses, Essence transacts currency from a multitude of sources. In addition to customer payments, the dispensary handles employee payroll, taxes, supplier payments, and local jurisdictional fees all via cash, requiring a daily need to count. What’s more, each of the three locations process currency separately. Between drive time and the 90-minutes needed to process currency at each location, the operations director had little time to focus on the new, evolving role.

Less processing time means more business development

The dispensary turned to the JetScan iFX i200 money counter to streamline currency counting. The machines are known for their speed, accuracy, and reliability, making them a smart choice for the ever-evolving business.

“In addition to counting daily currency drops, we now use the i200 money counter to process customer, vendor, and supplier payments, simplify employee payroll and audit our safes,” shares management. “We use these machines daily, and they’ve taken what was a 90-minute task per location and transitioned it into 30-45 minutes per location. This equates to a savings of 2.5-3.5 hours per day. As we increase our footprint, we expect that number to grow.”

The JetScan iFX device let Essence streamline its backend processes and free up management time. This allows managers to concentrate on more important tasks that help develop the business and foster growth.

The right solution partner is important

To find the right solution, Essence teamed up with a provider that matched them with the right machine, trained her and her staff on how it works, and made the operations director job easier.

“Setup was easy, and the i200 is easy to use,” the operations director explains. “Cummins Allison sales and service personnel are friendly and helpful. Under our maintenance agreement, scheduled preventative maintenance service calls keep our machines up and running and reduce unexpected problems. Overall, everything is great.”

 

Learn how you can improve processing time and eliminate human errors in currency counting with JetScan iFX money counting solutions. Visit cumminsallison.com/essencevegas

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