ECONNECT & QNAP
eConnect captures and analyzes Point of Sale data to synchronize with video. Users are now able to search QNAP video archives for exceptions. Our award winning Loss Prevention product dramatically increases the effectiveness of their surveillance system.
Any industry that handles cash has a problem with potential theft from their own employees. Staff may manipulate registers in order to steal cash, and current POS exception reports do not provide visual verification of what is happening at the register.
- The average point of sale business loses around 5% of revenues to employee theft
- 75% of employees have admitted to stealing at least once from their employer
- 37.5% of the time, a manager is involved in fraud
- 33% of all business bankruptcies are caused by employee theft
AN EXAMPLE OF ECONNECT IN ACTION
A typical employee may have an average of 5 cancelled checks per day. eConnect’s behavioral analysis has automatically flagged someone with 15 cancelled checks. With a couple of mouse clicks, we can see the video of when these cancelled checks occurred and if any money was received. Users can quickly identify and correct problem behavior.
Using data analytics with video verification, eConnect users have dramatically cut down their shrinkage. The average point of sale business has between 7% & 15% loss. Often, eConnect users cut this number in 1/2. However, if we were able to help recover only 1%, the system pays for itself in 3-6 months.
Calculating the savings is easy. Multiply the gross revenue of a business by 1% for a conservative estimate of profit recovery.