Useful Advices - Business

Cash In Drawer Limits

Restaurant point of sale systems have loads of features that POS salespeople love to talk about. Some are glamorous, others are flashy and some are unique to their product. When show

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

ing off these new and fancy features too often these salespeople forget about the basics and why cash registers were invented in the first place.

Preventing theft. That is the purpose of a cash register. Ringing

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

up items and safely storing cash if the fundamental philosophy that created a now multi-billion dollar industry known as the Point of Sale Industry.

Why then are so many point of sale companies, software manufac

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

urers and POS salespeople forgetting about the fundamental principles that are still valid in today’s business environment? The answer eludes and frustrates me because valuable profits are being lost by not utili

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

ing these basic and important features.

This is a series of articles about the fundamental features that every business should be using to stop employee theft, increase sales and increase profits.

->Cash In Dra

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

er (CID) Limit<-

This feature has been around since I started in the cash register business some 25+ years ago. I haven’t heard POS salespeople talk about this for over a decade and if it isn’t being used in you

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

business you are opening yourself up for theft and possibly armed robbery of your business.

All cash registers and point of sale systems track sales and tenders. They all know how much money, checks, gift cards

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

credit cards and other forms of payment are in each cash drawer/till.

Most cash registers and a few point of sale software companies have the ability to set a limit on how much cash should be in each cash drawe

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

/till. When this limit is reached the cashier is notified and then can notify management to do a cash pull from the drawer. Some systems go as far as sending a message via pager/cell phone alerting management tha

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

a cash drawer/till is over the cash limit.

Management can then go to the drawer, pull out an amount of cash, count it and enter the amount removed as a cash pull. This amount is then removed from the cash in dr

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

wer amount and lowers the overall cashier responsibility.

Do not forget that every time the cash drawer/till is opened all the cash is exposed to view and to the temptation of everyone. Not only does the money b

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

ecome accessible to your cashier, it is also accessible to long-armed customers who have been known to reach across when the cashier was not looking.

What could be even worse is the fact that when the cash drawe

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

/till is open potential robbers are able to estimate and determine if your operation is worth returning for a full-scale robbery.

Cashiers like this feature in that it reduces the amount of cash they are respons

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

ble for as the cash removed is deducted from their overall cash responsibility. Cashiers also like the fact that if there is less cash in the drawer they are less apt to have a gun shoved in their face during a r

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

bbery.

Owners like this feature in that it reduces the temptation to remove money from the cash drawer/till through employee theft or through robbery.

If you are an owner, wouldn’t you like keeping more of the

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

oney in your cash drawer/till for yourself? Wouldn’t you like to reduce the chance/temptation of an armed robbery? This old-time cash register feature now found in some point of sale systems could be the exact an

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

wer to your needs.

Check your current point of sale system to see if the cash in drawer feature is even offered. If you are looking at a new point of sale system you should make sure that the cash in drawer feat

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

re is offered.

Don’t let technology dazzle you to the point that you forget about the basics features that you need to stop theft and increase profits. Those features that have been around for decades are still

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

alid today.

Cash in drawer limits were considered an important part of any cash register and point of sale system for many years. The reason for the feature and the need to keep your cash safe never went away. S

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

opping theft is still a critical aspect of any point of sale system. That being the case, why should you settle for anything less than your business needs? Don’t settle for less. Demand the cash in drawer feature

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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