According to statistics from the National Retail Federation (NRF), retail “shrink” shrank slightly in 2017. That’s good news. But the bad news is retail losses from internal theft or fraud still cost the U.S. economy over $46 billion for that year.
Are you a small business owner that’s reluctant to play the part of Big Brother? Do you fear that monitoring your employees’ every move violates your principles of trusting people? Nice pie in the sky sentiment more likely, right? After all, as a small business owner, chances are that profit margins are slim to begin with. And while it’s probably better to be safer than sorry in terms of monitoring employees every move to make sure they don’t steal credit card information, most retail shrink is due to shoplifting.
Actually, NRF stats reveal that employee theft trails only organized retail crime in losses. Retail robberies averaged $4,237.02, while employee theft averaged $1,203.16.
Ready to install those cameras now?
If so, consider integrating video surveillance with your existing point of sale (POS) system. (If you have an outdated POS or a new one you want to smash with a balpine hammer because it’s always crashing, contact us today for a demonstration.)
Here are a few reasons why it makes sense to integrate CCTV with POS:
- It makes “cents” … in other words, it’s more cost-effective to integrate the two rather than have two stand-alone operating systems.
- It’s easier to operate one system than two
- No need for bulky CCTV external cameras and monitors
Getting Started with POS Video Integration
Not all POS systems are created equal. If you want to integrate video security with your POS, you’ll need to make sure your POS is able to do so. Your POS software should allow for all the bells and whistles that come with a non-integrated surveillance system. For example, your POS should be able to integrate with the video software to ensure at least 30 days of security footage can be stored.
But you might not want every employee to be able to access video security footage within the POS software. Therefore, make sure your POS is able to store security footage with limited access and editing functionality.
In addition, the latest POS-video surveillance integration technology allows for transaction text overlays. This means that on whatever monitor you’re watching security footage (your home laptop), for example, there will be a text description of each transaction. This text overlay operates in conjunction with the in-store POS software. The transaction overlay will also include the date and time along with the transaction amount and items ordered.
There are a couple other key components of POS-surveillance integration. Let’s say an item is scanned but the transaction did not go through. This no sale transaction should create an alert. And the software recording the transaction can create a “no sale event” in the log file. And you also don’t want to have to spend hours and hours watching video before finally finding the exact transaction you want to review. So make sure the POS software is set up with an event log that can be filtered by date, time, transaction amount, and other predefined filters.