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To say that shoplifting and loss prevention are major problems within the United States would be major understatements, to say the very least. Over $13 billion worth of products and goods are stolen every single year in this country alone, equaling an average of over $35 million daily. One study even confirmed that one out of every 11 people in the US alone is a shoplifter, according to Shoplifting Prevention.
Fortunately, advanced technology and the Internet have made it possible for companies and brands to drastically improve the efficiency of their respective loss prevention strategies to soften the blow. By using an iPad point-of-sale system to process front-end transactions in your store, this goal can be achieved in several different ways.
Removing the Money Out of Sight, Out of Mind
By having a traditional cash register stationed within one particular spot inside of your store, you are creating a visual target for the average shoplifter. Regardless of their acquired knowledge and experience in this particular field of crime, a traditional cash register or any other type of stationary POS system firmed placed in a fixed location puts this target in their direct line of sight.
By investing in a touchscreen POS system like those offered by Shopify you can start selling your products, you will remove this visual target all together by depending more on a non-stationary setup. Even though it may not seem like such an adjustment would make a big difference, removing such a target from the public’s direct line of sight would minimize the chances of someone trying to rob money directly from your POS system (i.e. rob the till, break into the register, etc.)
Improve the Efficiency of Inventory Management
Another way that an iPad POS system in your store would increase the efficiency of your loss prevention strategies is by providing your staff with the ability to manage your overall inventory completely within a relatively short period of time on a real-time basis. Keep in mind that most losses and theft are not confirmed until long after the crime has been committed.
For example, within the average retail environment, it could be several days or even weeks before a sizeable theft that was done discreetly within the store is even discovered. However, being able to monitor the on-hand inventory of your store with a few swipes, clicks and keystrokes will make it much easier for you to identify a potential problem that needs to be researched and addressed urgently.
Send a Warning Signal to All Employees
Studies have proven that the biggest threat to your company’s loss prevention strategies overall is not external – such as from a customer, client or vendor. It is more than likely going to happen internally, such as by one of your very own employees. Over 70,000 dishonest employees were reported and charged for some sort of theft from their respective employers in 2012 alone. This was a five percent increase from the previous year and resulted in an estimated loss of over $50 million in these cases alone, according to Business News Daily.
Using an iPad POS system to monitor your inventory efficiently on a real-time basis and remove the visual appeal of a stationary cash register will send a warning signal to all of your employees, deterring them from making the decision to cross over to the dark side of crime just because of the simple thought that they’d never get caught. Since your employees will realize that your company’s inventory is being tracked more carefully and cautiously than ever before, according to Yahoo Small Business, your internal shrinkage numbers will progressively dwindle.
Create More Opportunities for Continuous Monitoring
Within the average store environment, most shoplifters wait until they are not being physically observed by the staff of their targeted store to steal their inventory. Even if there are security cameras aimed directly at them, not having the physical presence of an employee right there beside them presents the average shoplifter with the perfect opportunity to commit their crime quickly and more than likely get away with it. In most cases, this is simply because of the employee having to return to their traditional cash register to tend to the needs of other customers and their respective purchases.
However, by using a mobile POS system that can be carried around by the actual employee, this frees them up to focus more on physically monitoring the activities being conducted throughout the actual store. It will make it much easier for the average employee to stay mobile, moving throughout the store to address the needs of their customers while also actively watching out for potential shoplifters and other criminals that are mere seconds away from getting caught red-handed.
The Bottom Line
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Studies have already confirmed that iPad POS systems are efficient alternatives to traditional cash registers when it comes to processing payments and finalizing transactions in general. However, another incentive to investing in these systems is clearly the opportunity to improve the effectiveness of your company’s loss prevention strategies. This mobile system will provide your company with an effective tool that is capable of adding more profit to your bottom line and less to inventory recovery from losses and theft throughout the year.