Retail Employee Theft Control

Employee theft is a rampant and growing phenomenon in the retail industry, accounting for $60 million in annual losses to U.S. businesses. Theft and fraud in the retail industry, according to the Justice Department, grows at a rate of 15 percent per year. Consequently, 60 percent of business failures are a direct result of employee theft, the Small Business Administration reports.

Enter E>Connect. We are the first company in the security industry to synchronize point-of-sale terminal data with digital video surveillance. Our state-of-the-art digital surveillance options and loss prevention systems combine to provide the best fraud deterrence tool in the business.

E>Connect systems dramatically cut down theft by allowing managers to monitor employee activities at close range—much more closely than traditional surveillance methods. With out systems in place, there is no need to spend hours reviewing videotapes for signs of theft. E>Connect software highlights trouble spots clearly. Clients can review multiple video feeds through any web browser connected to the Internet.

The most recurrent employee theft incidents include the following:

•Open Cash Registrar Drawers. Employees often utilize open cash registrars to steal from employers, making it difficult to accurately record products being sold and monies being collected.

•Time Card Fraud. A common occurrence that can be detected by E>Connects’ ability to synchronize surveillance equipment with time clock data.

•Misuse of Coupons. Businesses rely heavily on marketing coupons as an integral component of their business model, but unusual coupon activity is a common opportunity for employee fraud.

•Reload of Retail Gift Cards. Cashiers, studies show, commonly pocket money during the reloading of retail gift cards.

E>Connect customers have consistently reported revenue increases that often surpass the 10 percent mark following the installation of the E>Connect system. Increased revenues are, in part, due to the deterrence of undercharging, unauthorized discounting and voids. The revenue boost is also a direct result of streamlined business operations, including the ease to determine when to add or reduce staff.