Here’s another video from us for our POS software customers on how to cut theft in retail.
This online live workshop is another in the weekly series by the company for retailers using its POS software. It’s a great learning opportunity that will benefit any retail business owner. Plus it’s FREE.
Cutting retail employee theft is easy in our experience. We have worked with retailers, police, investigators and insurance companies for decades and still the most common reason theft occurs is because of poor controls.
Retailers who implement recommended controls will experience less theft. That is our experience.
The controls we recommend are:
We work with individual businesses on their situation and will happily help any Tower Systems customer in this area.
Employee theft can be cut and we can help achieve this.
Employee theft can hit a retail business hard, especially if the business does not have a retail business theft policy in place. For many years we have advocated to our retail business customers about theft and how to manage the risk for the benefit of the business and those who depend on it. yet, unfortunately, too often retailers ignore what they must do until they have discovered theft.
We are on a mission this week to encourage and guide our almost 3,000 small business customers to manage their businesses for theft, especially employee theft.
Our POS software has excellent tools and facilities through which the retail business owners can reduce the cost of theft and more easily discover possible theft situations. We back this with advice on best practice theft management in retail. Our advice draws on our own experiences in retail as well as our considerable experience helping others through work with the police and prosecution in court cases.
We understand the role evidence plays and have tuned our software over the years to provide evidence necessary to discovering and prosecuting instances of theft.
Employee theft and customer theft, like any activity in a retail business, require management. Not encouragement! … management. It starts with tracking, understanding what is being stolen, how often and when. Whether it is cash or products or services, tracking theft is the first step to reducing the cost of theft.
Retailers using the Tower Systems Point of Sale software have excellent tools for tracking and managing theft. Some of these tools are obvious and others are hidden for security reasons.
Through advice sheets, training videos, live training and other access points we help retailers understand their theft management options – all with the goal of reducing the cost of theft to the retail business.
This is another commercial benefit for retailers using our POS software. Retailers who do not use our theft management tools are more open to theft costing more in their business.
A theft policy is vital for every retail business. here is advice from Tower Systems on what should be in a theft policy. We first provided this to our customers years ago and have recently finessed it based on experiences helping retailers to address theft challenges.
We suggest putting this on a notice board in a common area for employees to read and sign:
THEFT POLICY OF THIS BUSINESS
1. Theft, any theft, is a crime against this business, its owners, employees and others who rely on us for their income.
2. If you discover any evidence or have any suspicion of theft, please report it to the business owner or most senior manager possible immediately. Doing so could save a considerable cost to the business.
3. We have a zero tolerance policy on theft. All claims will be reported to law enforcement authorities for their investigation.
4. From time to time we have the business under surveillance in an effort to reduce theft. This may mean that you are photographed or recorded in some other way. By working here you accept this as a condition of employment.
5. New employees are to provide permission for a police check prior to commencement of employment.
6. Cash is never to be left unattended outside the cash drawer or a safe within the business.
7. Credit and banking card payments are not to be accepted unless the physical card is presented and all required processes are followed for processing these.
8. Employees caught stealing with irrefutable evidence face immediate dismissal to the extent permitted by local labour laws.
9. Employees are not permitted to remove inventory from the store without permission.
10. Employees are not permitted to provide a refund to a customer without appropriate management permission.
11. Employees are not permitted to complete sales to themselves.
12. Every dollar stolen from the business by customers and or employees can cost us up to four dollars to recover. This is why vigilance on theft is mission critical for our retail store.
PLEASE SIGN AND DATE YOUR ACKNOWLEDGEMENT OF THIS POLICY:
Beyond excellent Point of Sale software, Tower Systems helps retailers with practical advice on how to improve their business as well as how to mitigate against expensive business challenges such as employee theft.
Tower Systems has shared fresh advice with retailers this week on how to reduce the impact of shopper and customer fraud in their businesses. With Christmas being fraud season in some retail channels the advice is timely and has been well received.
This latest advice is based on recent experiences in several retail businesses.
Our Point of Sale software has excellent fraud mitigation facilities that retailers can use themselves to reduce fraud and detect fraud. These continue to evolve based on field experience and feedback from fraud prevention experts.
Our work as expert witnesses in theft cases and work with police on investigations continues to inform our moves in this space.
Retailers properly using our software and following our advice can reduce the impact of fraud in their businesses.
Tower Systems is sharing practical advice with retailers using its Point of Sale software on how to cut the opportunity of employee theft this Christmas.
Sharing practical advice at the best possible time is an important service we provide our retail partners.
In our software we have excellent theft reduction and theft tracking tools that work well in any retail situation. Our own experience running retail businesses helps us provide retailers with advice beyond what is usual for a POS software company.
The advice we provide is based on our own experience owning and operating retail businesses in several retail channels.
Retailers following our advice can cut theft.
We are seeing evidence of a rise in employee theft in retail, continuing a trend of recent years when employee theft has risen as Christmas approaches. our advice to retailers for better managing to reduce employee theft is:
More a more extensive list speak with one of our help desk team and ask for our theft reduction advice.
One of the most valuable benefits of Point of Sale (POS) software used by any retail business is a reduction in employee and customer theft.
Used properly, good POS software can significantly cut the cost of theft.
Theft reduction is achieved through consistent use of the software throughout the business. The less consistent a business the less likely they are to uncover theft. Those most likely to steal will notice how the software is used and through this reach a conclusion as to the likelihood they will be caught.
Tracking stock from when it enters a business to when it leaves is the key to detecting and reducing theft by employees and customers. Too often, small and independent retailers do not fully track and manage stock – making them appealing businesses for people likely to steal.
Here are the steps involved in tracking stock and reducing the cost of theft:
Once all stock is setup in your software, the time taken for spot stock-takes is minimal. This time is funded from the reduced theft that will certainly result.
Employees who see you track stock movement through spot stock-takes and other activities listed here will be deterred from stealing from the business as they will see the risk of being caught is higher.
Manage your business professionally and consistently and theft will cost less.
Tower Systems has released an update to its Point of Sale software that enhances security against employee theft. The new facility extends the reach of what the software tracks in terms of employee behaviour, strengthening the tracking ability of the business over possible employee theft.
We are not publishing details of the enhancements here as we do not want to warn retail employees about the additional data we are capturing.
The enhanced retail employee theft tracking is part of the latest update to the Tower POS software, an update released last month and provided for free to retailers who are part of the Tower AdvantageTM program.
This latest security enhancement is one of a site of enhancements to our software pitched to us by our cust9omers through our exclusive Software Ideas facility whereby our customers can detail their ideas and others can vote on them.
Tower Systems is delivering practical advice and help to retailers keen to cut employee theft and customer theft in their retail businesses with a free online training workshop this Thursday. Using our best-practice Point of Sale software we provide access to valuable tools, controls and monitors that actively reduce the cost of theft to a retail business.
This online training is part of a broader live training program we have for retailers using our software. Through this program we deliver not only training but also opportunities for retailers to network. This is invaluable when it comes to theft as retailers get to talk with each other about their situations and from this learn and, hopefully, exert better control over their own businesses.
Too often, retailers act to reduce theft after theft has been discovered. This has proven too late for some businesses. Our theft management tools are comprehensive, secure and ready for use right away without the need to spend any money. This is why it’s vital for retailers to seize the opportunity, to chase a reduction in the cost off theft in their businesses.
Our Tower Systems theft check service has uncovered more employee theft. This time in a couple of retail businesses using our Point of Sale software. In each case, the theft detected is considerable. The evidence we have provided is police ready. This is important. We have police assistance and court expert witness experience and this helps us to better help our retail customers to deal with the scourge of retail employee theft.
While the vast majority of retail employees we have met are honest, there are some who steal from their employer. Christmas is a time of an increase in theft by retail employees. Here is our advice for retail business owners for cutting the cost of theft by retail employees:
Treat your business as you would a large bundle of $100 notes. The more serious you are about managing your cash the more of it that will make its way to your bank account.
Talk to any retailer and they will tell you that shopper theft is a serious problem year round and worse at Christmas. From stealing complete items off the shop floor to removing items or parts from packaging and taking what they want to defrauding you of cash at the register, it’s expensive to the business as well as disheartening.
Our work with retailers in a variety of retail channels has helped us develop some simple advice to help retailers cut customer theft. This advice is as relevant at Christmas as at any time of the year. Here is our advice:
Cut the cost of shopper theft in your retail business with these tips and tight shop floor management.
We have been working with police and other authorities on theft matters in two states this week. Each case has taken up considerable time as we have sourced evidence to be used in cases being pursued against the accused, evidence that will stand the test of cross examination in court.
Each time we do this work we learn more about the processes of the police and, through this, ways we can guide and help our retail business customers to better manage their businesses for theft minimisation.
Next week, a senior member of our team will be in court on behalf of the prosecution as an expert witness.
Why is this relevant to small businesses considering our Point of Sale software … we’ve got your back when it comes to cutting the cost of theft to your retail business.
Retailers too often struggle with cutting the cost of employee and customer theft. They ignore opportunities to block theft and turn their backs on understanding the cost in their business.
Here is best practice advice which, if followed, will reduce the cost of theft in any retail business.
The cost to any retail business of customer and employee theft can be significantly reduced. The keys are retail owner and management engagement, full use of the software and relentless application of a zero tolerance approach.
Specialists in Tower Systems have been called as experts in cases of employee theft. Sometimes these cases have been heard in courts which take almost a day of travel to get to.
By the time we get through the deposition, committal hearing and trial processes we can be out many days of time in the pursuit of justice around alleged criminal behaviour.
The disruption to our business of this activity is considerable yet we accept it as part of our role as experts in the area of employee theft.
We get drawn into this work around tracking, catching and prosecuting in relation to suspected employee theft. We have structured process to our investigative work and this is why police and prosecutors like to work with us.
Thanks to strong theft tracking and management tools in our retail management software, retailers are able to exert more control over this considerable business risk. We offer training, documentation and support to help mitigate the theft risk.
Despite our work and warnings, we are frustrated the more retailers do not make use of the tools and services at their fingertips. If they did this we could see ourselves spending less time assisting police and prosecutors. Catching theft activity early is a win for all involved.
Retailers need to be vigilant about the risk of employee theft. Poor management creates the opportunity for theft. Good management will prevent theft and save time having to resolve a problem after the event. We mention this today because of a noticeable rise in reports of employee theft in retail. Using our Point of Sale software employers can reduce employee theft.
Tower Systems has just helped another retailer cut employee theft by using its Point of Sale software to uncover the crime and provide irrefutable evidence. In this instance, the employee was skimming to an apparent budget and doing it in a way which they thought would be undetected by the Point of Sale software. The theft was exposed by using secret and secure facilities in our POS software, the employee confronted and sacked on the spot.
The retail business is now $150 a week better off thanks to the assistance of Tower Systems and our Point of Sale software. The business manager is certain that the theft would not have been discovered had our software not been installed.
Having irrefutable evidence is vital to an employer being able to act against an employee in a theft situation. Thanks to years of work in the area of theft tracking and reduction, we are abel to help retailers gather evidence and take steps to protect their position.
That’s what we did in this situation. One employee who was stealing $150 a week is now out of work and the business is saving money every day. Indeed, the retail business is saving more every day than the Point of Sale system costs.
With theft in retail costing as much as 3% of turnover, most retail businesses can expect to save more each day than the system actually costs.
Tower Systems offers specialist assistance when it comes to theft tracking, theft management and theft reduction. we follow a structured and proven process which delivers valuable outcomes, as the above story shows.
Retailers who want to cut employee theft and customer theft should speak with Tower Systems today.
We have just helped another retailer uncover and resolve a situation of employee theft. What started as a query about data in our software soon morphed into a professional investigation into systematic fraud.
Thanks to the excellent audit tools in our Point of Sale software we were able to pinpoint the employee stealing from the business. This was achieved thanks to a hidden and secure log of data managed by our POS software.
Without knowledge of the situation, our analysis of the data from the retail business enabled us to provide information in a form which, if tested in court, would stand up to cross-examination for accuracy in pointing to the employee responsible.
We don’t like catching people stealing from a retail business using our software. However, we do gain satisfaction when we do discover this and the person responsible admits the theft.
We know from studies that retailers can lose between 3% and 5% of turnover in theft each year. This can be reduced by retailers using our Point of Sale software if they use the tools available to them in the software to protect the business against theft.
Retailers who do not use the theft prevention tools in our POS software can at least rely on the investigative tools to gather evidence of theft and act after the event.
Jewellers using our jeweller software have access to excellent tools for tracking, managing and reducing employee theft and customer theft. The value of our tools was on show recently when we helped a jeweller discover that they did not have a data problem but indeed had a theft problem.
So, what started as a support call soon became a business assistance call.
Telling a business owner that they have a theft problem and showing them the evidence is challenging. First there is usually denial. This is followed by anger. Then there is often retribution. Finally, sometime after the shock of the realisation of theft, acceptance sets in and we can start to make some progress.
In addition to helping to solve the crime of employee theft or customer theft, we find ourselves helping theft affected customers to focus their attention on what is best for the business. We see this as part of our job. we train our team to do this work professionally and with care.
As we head into the Christmas trading season we are refreshing our training on theft so that our team and our customers are prepared to make the most of the excellent theft management tools in our software.
We have excellent theft tracking, theft reduction and theft management tools in our software – not only for jewellers but other retailers using our Point of Sale software. These tool have evolved over time and in response to a broad variety of theft situations we have seen in our own retail businesses as well as in customer businesses.
By using the tools we provide and following the advice we offer, a retail business can expect to easily add valuable dollars to their bottom line for quite a small amount of time and money investment.
In the meantime, another jeweller is better equipped to deal with theft having learnt the hard way.
Any retailer complaining about tough times ought to look at what they are doing to mitigate the cost of theft in their business.
Turning attention to theft has an immediate impact on the business. It almost certainly cuts the bleeding of cash and the cost of lost or damaged inventory.
We have seen retailers save as much as $25,000 in the first year of a co-ordinated theft management program. The cost of such a program is negligible if they are running our Point of Sale software.
So, just by following our advice and properly using our software, retailers can expect to save at least the equivalent of 1% of sales. This as good as if they increased sales by 1% without doing anything.
This financial benefit goes straight to the bottom line.
While everyone is talking retail down, we are showing our retail customers how to improve their circumstances through a more complete embrace of the facilities in our Point of Sale software.
While we willingly help our retail customers deal with employee theft situations, we would much prefer that all of the theft tracking, management and reduction tools in our software were used to their fullest to stop employee theft getting out of hand.
One of our senior managers was recently out of the business for two days having been summonsed interstate for a committal hearing in a case involving employee theft. Our senior manager was an expert witness.
This is not the first time and will surely not be the last.
While smart retailers embrace theft reduction opportunities in our software, too many face up to the employee theft risk only when theft becomes evident through an analysis of their profit and loss statement.
Employee theft can kill a retail business in no time at all.
The time to engage is now, when you think that things are okay. We will gladly help with tips and advice.