Shrinkage – the amount of merchandise that leaves the store without being paid for – is one of the greatest concerns reported by retail businesses, according to the National Retail Federation. This can happen in a number of ways, including:
- employee theft
- bad record-keeping
- breakage, spoilage
- and robbery
Industry experts report that approximately 50% of shrinkage is due to external theft, 30% is due to internal theft, and 20% is due to faulty paperwork. Regardless of the cause, losses of this type can dramatically reduce store profits.
Although surveillance systems and security guards can be useful in dealing with some of the shrinkage causes, prevention can play a significant part in reducing shrinkage.
- Barcode scanners for better transaction accuracy,
- Tools for streamlining accounting processes,
- Inventory management tools that allow for better monitoring,
are only a few of the ways that a good POS Software System can help stop shrinkage problems before they begin.
Call us at (425) 672-4806 or email us if you would like more information about saving money by reducing shrinkage with our POS Software. We have answers for your questions!