It’s an unfortunate reality of the retail world: certain employees turn out to be less than trustworthy.
To ease the process of investigating an employee gone rogue and thus curb internal thefts and frauds, My StartUp brings you some key preventative insights from Solink, a cloud-based security and loss prevention firm.
As the owner, you know your business inside out, including where you’re most vulnerable to internal theft. You’ve identified which products are most at risk and the common ways employees may tamper with the cash register. But knowing what to look for is only half the battle. Often, the real challenge is finding enough time to properly investigate and collect the evidence required to confirm your suspicions.
If you find yourself frustrated by how long it takes to investigate internal theft, it’s worth reviewing your current process to find bottlenecks that might be slowing you down. Luckily, there are technologies and best practices you can follow in order to increase your investigative capacity. The three recommendations listed below have helped businesses both large and small significantly improve their process.
After finding a suspicious transaction in your point-of-sale records, the next logical step is to check the surveillance footage. Typically, this means writing down a time and date and reviewing video footage until you spot the transaction you’re looking for. Repeat this for each suspicious transaction in your business and you’re looking at an all-nighter at the office.
The solution to this tedious process is Point-of-Sale integration with your surveillance video. It can be as simple as having text overlay on your video footage (most modern DVRs have text overlay as a standard feature) or using a more advanced option, such as software that allows you to search your footage based on transactions and other events. In both cases, the ability to review surveillance video and transactions at the same time is a huge time-saver.
The majority of losses in a retail environment occur at the point of sale (POS). But it’s nearly impossible to manually sift through every transaction to spot errors and suspicious activities. Exception-based reporting systems allow you to automatically monitor POS activity for exceptions and trends, such as frequent voids by the same employee. It’s an efficient way to keep track of what employees are doing at the cash registers without having to manually review every transaction. Combine this with POS integration and you’ve automated most of the legwork of investigations.
Cloud-Based Security System
A significant advantage of cloud-based over on-premise security systems is that they allow you to access remotely your video and other in-store data. In other words, you don’t have to be at the store location to check the surveillance footage. This is especially useful for multi-unit owners since it centralizes all your data into one web application that you can access from anywhere.
Whether you choose to invest in one or all three of these recommendations, you’ll be far better equipped to manage employee theft in your business.
Solink is a cloud-based security and loss prevention system that helps businesses to proactively reduce theft. Solink is based in Ottawa, Canada, with deployments worldwide.