How security and loss prevention professionals can guide the company toward increased profitability through more wide-scale video adoption.
Is your retail loss prevention strategy as up to date as your inventory, services and marketing? If not, it could be affecting your bottom line. Many companies overlook how newer technologies may impact their loss prevention strategies. Today’s smartphones are a good example. They have emerged as a preferred, and successful, tool of the dishonest. Having a well-defined smartphone policy can help protect your profits.
When budgets are tight, everyone in the organization needs to fight a little harder for a share of the company’s resources. In retail businesses, it’s even tougher for the loss prevention (LP) organization, which is often hard-pressed to justify the value of new technology investments to others in the company.
Why should retailers invest in video surveillance when they could use that money to hire another employee or run a customer promotion? Because a well-designed surveillance system can help them find costly inefficiencies, shrink and other problems in just minutes a day – increasing revenues and profits as a result.