How Your POS Protects You From Theft2 min read
One of the most pressing areas of concern for any business owner today who has at least one or more employees is going to be found in the area of theft and theft prevention. Unfortunately, even the most seemingly dedicated and loyal employees cannot be blindly counted on to always do the right thing. And when you really apply some thought to it, any measures you, as an employer take to eliminate any possibilities for your employees to “do the wrong thing” will ultimately result in your employees maintaining a clean slate, in terms of becoming involved in legally punishable misconduct.
Safely Designate the Money-Handling
The innovation of POS technology brings to employers an advanced level of assuredness with regard to preventing employees from absconding with both goods and proceeds, simply by the manner in which it records and stores every possible piece of critical information about the current status of your inventory, as well as offering 100% accuracy, in terms of reporting all important details regarding the exact volume of sales and returns. You can program your POS system to disallow anyone to access the cash drawer or manually manipulate all other forms of payment without the express consent and/or intervention of a supervisor or yourself. So what you’ll have is any opportunities for employee theft being assigned to the responsibility of the manager on duty (MOD,) or you yourself can oversee all such transactions.
Your New And Dependable Information Hub
Conversely, your POS can assign each member of your staff unique credentials (requiring unique log-ins) that will readily identify them and make an instantaneous association with every transaction they have any involvement with, not only on a daily basis, but it records the ongoing history of all such proceedings. Also with POS technology, you can effectively control the level of access that each of your employees have to various segments of operation. It will also effectively help with payroll management, not only in terms of accounting, but also keeping accurate records of employee hours worked.
Sad Statistics on Employee Theft
Reports from the National Restaurant Association (that’s right, the NRA,) cite the percentage of theft (resulting in inventory and cash shortages as well as sales for food establishments) that is perpetrated by employees to comprise at least 75% of the overall business loss. And an astonishing finding is that a whopping ¾ of company employees will steal from the business at least once during their employment, with a significant half of them being chronic stealers, in one form or another. What this ultimately means is that any offset resulting from the purchase of a POS will more than pay for itself, and very quickly.
