Casio – why you need to focus on “shrinkage”
4th July 2019
The eminent EPoS manufacturer, Casio, has put out a strong ‘call-to-arms’ for Britain’s millions of small businesses to focus this summer on shrinkage. For the uninitiated, ‘shrinkage’ is the industry term for theft or fraudulent activities that results in stock loss or financial irregularities.
During the peak summer period, when hospitality businesses expand their core teams with new temporary staff to help overcome busy periods, the influx of new staff can help provide greater flexibility and improved customer service outcomes. However, this could also lead to new avenues of staff fraud and misuse.
Managing hospitality businesses can be challenging and finding your tills coming up short, or drinks stock on hand not matching the sales data or any other indicator of a problem, could potentially indicate a human problem. But what can do you?
Research from Vianet found that in the pub sector alone in the UK nearly 2% of all drinks served never get put through a till. The research by Vianet argues this equates to £250 million pounds. British trade bodies and other organisations have long argued that greater front of house staff surveillance measures are needed to help reduce shrinkage experiences.
Casio have created a new solution that works with CCTV technologies and its V-R7000 and V-R200 terminals in order to collaborate with managing voids, discounts or refunds by processing text overlay on video footage. Therefore, on playback you’ll have hard evidence that connects till events with specific evidenced CCTV proof – this will create an effective deterrent whilst providing your trusted staff with additional protections.
If you would like to install this kind of system or need an upgrade to your network to support it, we would love to help.