Every company that handles cash is exposed to the same relentless challenge - cash shrinkage. For Loss Prevention Officers, finding and plugging the leaks in your company’s cash management will demand you develop a hawk eye for detail and bullet proof processes.You also need to keep up with the latest technology to make you as effective as possible in your role. But where do you ...

Your cash management processes can play a big part in the operational performance and resilience of your business. A recent study by EY-Parthenon found that of 5,000 of the top largest public companies tracked globally, those with better cash management were 19% more resilient than their low-performing peers while 21% were better at limiting initial shocks caused by market downturns. From a Operations Director’s ...

Unlike the old paper notes, UK banknotes are made from polymer issued by the Bank of England. This gives them their unique feel and design.Polymer is a type of highly flexible and thin plastic material that has many advantages - such as security, sustainability, and ensuring that the government stays one step ahead of counterfeiters.However, polymer banknotes have an array of other benefits. So, let's ...

The boundaries of traditional cash management practices have been blown wide open with the arrival of cloud technology.In an age where businesses are constantly seeking efficiency, transparency, and agility, cloud connectivity has emerged as a critical component in meeting the demands of organisations to streamline their financial operations.The scalability and flexibility of cloud services could reach $600 billion this year alone, and according to the ...

While many people are paid electronically, the recent increase in the use of physical money has raised questions about paying employees cash. Getting paid "cash in hand" certainly has some advantages over bank transfers—there are no bank fees or delays, and there is no chance of running up debt on cards, to name a few. However, the employer and employee must consider some essential legal, ...

From its humble beginnings as a colonial currency to its status as the world's primary reserve currency, the US dollar's history is a captivating tale of evolution and resilience. As the backbone of the American economy, the dollar has not only shaped financial transactions within the United States but has also influenced global trade and commerce. This blog will take you on a journey ...

Cash still matters. In today’s digital payments age, cash transactions remain vital for many businesses, across many industry verticals.According to the European Central Bank, cash was used for 59% of point-of-sale transactions in 2022, despite a continuing decline in overall market share versus electronic payments.This is evidenced further by the Bank for International Settlements, which maintains digital payments have not yet fully overtaken cash. Public ...

Money is an essential part of everyday life, enabling us to trade, save, invest, and measure value. But what exactly is money and why does it hold such importance?In this article, we’ll explore what money is, its key functions, and why it matters so much in modern society.The Definition of MoneyMoney is the lifeblood of the economy, acting as the universal tool that powers every ...

Money has come a long way from the days of bartering and livestock exchanges to the complex digital economies we see today. The concept of money, in its various forms, has shaped societies, economies and the way we live. But who exactly invented money, and how did it evolve into the currency we use today? From the ancient use of commodity money like cattle and ...

The current $20 dollar bill features a portrait of Andrew Jackson, the seventh president of the United States, who served two terms in the White House from 1829 to 1837. The United States $20 dollar bill is one of the most commonly used denominations in U.S. currency. But have you ever wondered why they were chosen? Let’s look back in history and the significance ...