Spanish companies have one of their great objectives in the digitization of business processes. In this sense, the cash management It is one of the areas with the greatest opportunity for evolution and growth in terms of digital transformation.
Specifically, the 72.4% of businesses in our country demand greater innovation in activities related to the management of cash payments to achieve improvement and optimization in this process, according to a study carried out by Prosegur Cash among more than 500 commercial establishments throughout Spain.
The collected data also show that the 70.8% of Spanish businesses consider that technology can contribute to improving the automation of cash accounting. According to the type of business, gastronomic establishments (84.3%) and pharmacies (81.7%) are the businesses that are most in favor of this innovation. We must highlight the importance of cash for businesses since, as pointed out by the Bank of Spain in a report published at the beginning of 2023, it is the universal means of payment used by almost the entire population, being used daily by three out of five people.
Another of the aspects that generates the greatest interest among the businesses surveyed is the one that refers to the use of technology to obtain information Regarding the amount of money in the box in real time, 70.3% confirm this.
Management time reduction
Thanks to the results of this study, it can be seen that Spanish businesses have some concerns regarding the time they invest in managing cash. More than half of the businesses surveyed, specifically 59.1% are concerned about the amount of time they spend managing cash deposits and withdrawals. Businesses were also asked if they consider that technology is capable of contributing to reducing the time spent collecting money at the till or balancing the money available there, and 61.8% were in favor.
Besides, 69.3% of Spanish businesses consider that greater digitization would contribute to reducing the time in dealing with banks, such as deposits and withdrawals of cash, through a service that allows the money from the box to be automatically deposited in the bank account. In these cases, gastronomic establishments and pharmacies are once again the businesses that show the most proactivity when it comes to introducing tools that reduce the time spent managing cash payments.
Besides, the time of transfer of cash to the bank It is a question that worries businesses, specifically 47.1% affirm that they have felt uneasy about this situation.
The same survey has shown that 65.3% of Spanish businesses think that automating collection activities would help eliminate security risks which involves the transfer of cash. Gas stations and service stations are the businesses most in favor of this innovation (78.1%), followed by gastronomic establishments (74.7%) and pharmacies (69%).
