From shoplifting, to credit card fraud, to employee theft, small business owners have it tougher than ever when it comes to protecting their company from loss. According to the Ponemon Institute, a nationally recognized security statistics company, over 70% of businesses “express concern about information and/or physical security of company assets.”
As a small business owner in an uncertain economy, now is the right time to take security and protection seriously. Lack of security can actually be the number one reason that a growing company fails. According to Ponemon, over 20% of consumers actually terminated a relationship with a company after being notified of a security violation.
In a small business, this type of breach cannot be tolerated. How do you protect your assets and go about making sure that your company is not just another statistic?
Security as a Decision Making Tool
Protecting a company is no longer only about recording footage from a single surveillance camera at the front of a store. It is now commonplace to see retailers and small businesses looking for better options against shoplifting or under pricing at the counter. A video data management system (VDMS) can be a vital tool in this type of security protection.
A VDMS can associate transactions with video so a company has a video overview of the financial data as the transaction occurs. This can be huge in protecting your customers and give you the ability to see the full financial and security picture of the company.
Crimes of Opportunity
A criminal’s first eye-catching experience with a target is usually an unsecured retail store. It’s easy to pocket merchandise when there is only a single camera up at the front of the store, when no one is around, or even when the store is very busy.
National security statistics show that theft is strongest around the holiday season when stores are packed wall-to-wall with customers and the ‘watchful eyes’ of the employees are busy at the counters or restocking shelves.
Having a quality turn-key surveillance solution, with well-placed video security cameras around the store, is the first line of defense that business owners need to depend upon. Just the mere fact of owning a system that is well placed and obvious to the customer can be enough to deter theft and shoplifting.
Prevent Shrinkage to Your Bottom Line
Loss prevention is a huge factor for any business owner. In a recently published report, nearly 400 billion dollars in productivity costs are lost every year due to recovery efforts after a theft.
Owning a proper, well planned security system saves time and effort, not to mention cost, when you don’t have to account for stolen merchandise or reduced pricing at the counter.
Return on Investment
A budget is always one of the biggest concerns in any business. Is it worth the price? Well, according to national police data, installing a quality security system can actually benefit a business and have a huge return on investment – this can be especially true for smaller business such as boutiques or restaurants.
With optimal video footage, there is an ability to significantly reduce shoplifting, ‘sweethearting’ (lowering price at the register) and even reducing worker's compensation suits. Most users of these systems also report a higher quality of employee output, as the employees feel they are also under surveillance.
Want to know more? Learn more about the retail security solutions offered by Supercircuits.
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