Project Description

With over 100,000 smart safes in the North American market today, Sesami is the single largest supplier of smart security deposit devices for cash at small and medium size businesses. As remote monitoring and IoT technology improves, so has the demand for more smart devices to assist businesses in tackling labor shortages while improving service and security.

Smart safes are deposit-only devices that businesses use to validate, count, and store cash on-site prior to collection by armored transport services. Validation ensures counterfeits or poor condition cash items are properly rejected. Optical sensors recognize individual cash denominations and track balances deposited to the safe to ensure accurate values are recorded. Steel enclosures coupled with multi-layer digital access security keep the cash safe from theft by employees and outside attack. Additionally, smart safes can be connected to financial service providers which can offer a provisional credit to the business-owned bank account for the cash deposited within the safe before courier pick-up. This offers quicker use of the cash in the safe for other financial responsibilities ahead of physical deposit of the cash at the bank.

What this project seeks to understand is the following:

• What is the additional market potential for the current Series-3 and Series-4 smart safe product line in the Western Hemisphere?
• Unit Sales Potential
• Price Points
• Post-sale Service Needs
• What other smart safe market potential exists for devices outside of the Series-3 and Series-4 capacities and capability range?
• 1- What would be the market acceptance and price range of a premium safe line: larger capacity, more digital capabilities, stronger security?
• I.e. – Cannabis businesses cannot deposit cash within banks insured by the FDIC due to cannabis being illegal at the federal level.
• What sort of additional security devices/features might they want to store and validate large sums of cash on-site?
• What sort of capacity, cash management, and remote communication capabilities might they want?
• Aside from physical security provided by the safe design and materials, what other provisions might be valuable for deterring theft and what would be the value for options such as:
• Audible alarms?
• Tear gas release?
• 911 call code at the safe?
• Time delay coupled with restricted amount access?
• Other?
• 2- What would be the market acceptance and price points for smaller, less sophisticated, and less secure cash safes for smaller businesses?