Technology has fundamentally changed the way our economy functions, and as smartphones and payment apps continue to make their mark, the use of cash is dwindling. You may be surprised to learn, however, that despite the convenience and ease of mobile or card-based transactions, cash is still a vital part of how we use our finances.
According to Westpac, 53 per cent of transactions in Australia are now cashless, however that still leaves millions of dollars worth of physical currency still changing hands every day. Businesses that continue to handle large amounts of cash need to feel confident that their finances are protected with secure logistics processes, particularly when moving them between locations.
So what do businesses need to consider with regards to cash-in-transit? Safe Work Australia has advice.1
Ensuring safety and security when moving physical currency means having the equipment to protect your people and assets.
Equipment for cash-in-transit
Ensuring safety and security when moving physical currency means having the equipment to protect your people and assets. There are several essential elements that must be part of your cash-in-transit strategy:
Safe Work Australia suggests your first question should be how visible you would prefer cash-in-transit activities to be. Choosing the discreet option – unmarked vehicles and plainclothes security officers – can be beneficial as it will not draw attention towards your actions, while high-visibility vehicles project an image of strength and professionalism that can deter criminals.
Whichever method you prefer, it's important to ensure the drivers responsible for moving your cash have additional equipment to help ensure a safe, smooth journey. Reliable communication channels are essential, taking into account any known reception trouble spots. In-vehicle duress alarms that are easily activated, GPS tracking and secure onboard storage are all valuable considerations as well, allowing monitoring of travel and emergency procedures in the event of an incident.
Personal protective equipment
Whether using uniformed security officers or not, it's important to provide those transporting cash with personal protective equipment (PPE) to help them complete the journey safely. Safe Work Australia identifies some of the PPE you may require as:
General safe work procedures for cash-in-transit
The equipment for secure cash-in-transit is just one factor you must consider, it's also essential to know the people transporting your currency are trained to follow general work health and safety considerations. That means clearly delegating the responsibilities of each person involved in the cash-in-transit process, strategies for reducing risk throughout the journey, procedures to identify suspicious behaviour and implementing procedures to follow in the event of an incident.
It's clear that there is a lot involved with secure cash-in-transit, and most organisations are unable to manage the process themselves. That's where the support of Prosek Security comes in.
Prosek's secure logistics service
Our team of trained and professional secure logistics officers can make your organisation's cash-in-transit needs as safe and simple as possible. With options for discreet currency movement as well as highly-visible, branded transport, Prosek takes all of the hard work out of moving cash from place to place.
With cash collection, delivery and banking for your organisation, Prosek's secure logistics service saves time for your business while reducing the risk of robbery. Speak to us today for further guidance about how we can help ensure your cash is transported safely and successfully.