It’s 5 p.m. Do you know where your deposits are?


 

Deposit management sounds simple, right? Your stores send deposits to the bank, and the funds show up in your account. Unfortunately, there’s a lot of ways your deposit process can go awry.

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Digging into retail deposit options

 

Shoppers making in-person purchases in 2018 have more payment choices at the register than ever before. They can pay with check, debit or credit, or by scanning their phone or watch. Or they can pull out their wallets and pay with cash — and despite convenient advances in payment technology, many do.

 

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Selecting new technology | Corporate reporting and dashboards

 

As a retailer, you’ve got a ton of data. You accumulate it from customers, employees, vendors, partners, software and hardware, over long operating hours and from hundreds or thousands of stores. All that data can give you a competitive advantage by allowing you to make faster, better decisions — if you make sure it’s consumable and actionable. Understanding your data is vital to knowing what’s really happening in your stores.

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Fed survey: Cash remains most popular retail payment method

 

The Federal Reserve Bank of San Francisco just released preliminary findings from its 2015 Diary of Consumer Payment Choice, a study on cash that was originally conducted in 2012. This year’s study found that while the use of cash has declined slightly since 2012, it is still the most popular payment method among people of all ages, across all types of transactions. Of course, that means you’ll continue to accept, handle and manage it, which can be costly.

 

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