As if running a small- or medium-sized business (SMB) wasn’t hard enough, business owners must contend with revenue-impacting theft on a number of fronts. For example, employee theft causes a loss of up to $110 million every day, with businesses losing up to 5% of revenue to employee fraud and abuse each year. Now, add in shoplifting, which can cost the same businesses over $13 billion annually. Then consider burglaries—11% of which are aimed at gas stations, convenience stores, and banks—and you have a recipe for fiscal disaster.
This is why savvy business owners are taking a closer look at smart theft protection strategies that can protect your premises, employees, and revenue.
Securing Your Small Business with Smart Theft Protection Strategies
Any business can be subject to theft on both internal and external fronts. Internal threats include:
- Employee shoplifting
- Data theft
- Hours padding
- Direct stealing from cash registers
In addition to internal threats, a number of external threats can complicate the security formula, such as:
- Shoplifting by customers
- Fraudulent returns
- Robbery (being threatened or intimidated personally)
- Burglary (off-hours break-ins)
The good news is that you can protect your business from most of these threats by deploying a few simple, yet powerful, smart theft protection strategies.
Smart Theft Protection Strategies for Your Business
1. Smart Inventory Management
Setting up smart inventory management systems can go a long way toward deterring potential thieves. All you need is a smart barcode scanner and associated software. Your barcode scanner can generate a soft Radio Frequency Identification (RFID) tag that can be concealed anywhere on a product or even displayed prominently as a greater deterrent.
If the tag is not deactivated at the cash register, the tag trigger an alarm as the item passes by a receiver.
2. Appropriate Signage and Other Theft Deterrents
Not only does posting signage indicating your premises are “protected by video surveillance” alert potential thieves that they should take their business elsewhere, it may be required by law. Each state has their own video surveillance laws; be sure you are compliant with your state’s regulations.
Other simple tools include placing mirrors in blind spots or areas where suspicious activity is likely to occur, attaching items to shelves, and placing alert sensors in ingress and egress areas, even if they are only linked to a bell that rings as a notification of someone entering or leaving your store.
3. Security Cameras and Video Analytics
If you want to protect against both internal and external theft, a professionally installed video surveillance system is a good way to offer full-spectrum protection for both your employees and your assets.
Today’s systems range from single-camera to a multi-camera systems with dedicated servers or DVRs/NVRs (digital or network video recorder, respectively) to retain video footage for review. Modern cameras feature high-definition video for crystal-clear images, facial recognition and license plate reading features, low-light or infrared (“night vision”) options and more.
The same video analytics that make facial and license plate recognition possible can also be used to detect unauthorized access, alert staff to suspicious movements, and even detect loitering.
CDS Has the Video Surveillance Tools You Need to Protect Your Assets
Theft, both physical and digital, is becoming more prevalent in today’s business environment, which means making sure your business assets are protected is a critical element of any smart business plan.
At CDS, we have curated a wide variety of surveillance and protection tools that feature leading-edge technology to provide the greatest amount of protection. Our systems range from basic single-camera units to complete enterprise-level systems with dedicated servers to give you options to fit any size business, while also meeting your budget requirements.
We feature the latest security tools on the market, such as temperature scanning, face recognition (with mask detection), and license plate recognition alongside systems that can easily integrate with current access tools or even your phone system.
Protect your business assets from theft, loss, or harm. Contact a CDS representative now and learn how our state-of-the-art surveillance solutions can make your business safer.