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Managing Cash & Theft

As sales consultants, we know how important it is to ask merchants questions about their businesses. The more they tell us about their future plans, how they market themselves, and where they see growth coming from, the more able we are to match the right product suite with their particular needs.

Occasionally a merchant will bring up the spectre of employee theft; it’s an unfortunate reality of being a business owner. In fact, according to The National Restaurant Association, employee theft accounts for about 75% of a restaurant’s inventory losses and that equates to about 3% of annual sales. And that doesn’t include cash losses or “time” theft.

A TouchSuite POS system is much more than a “fancy cash register”  or a trendy new tablet device, it’s a tool that helps a merchant become more profitable.

Cash Handling – Our POS program has a code system that allows only certain employees access to the cash drawer and, beyond that, only designated employees have access to run refunds, void transactions and give pricing discounts. Additionally, a business owner can set the pricing for “timed events” such as brunches and happy hours and those prices won’t apply before or after the prescribed time. In other words, an employee can’t ring up the lower priced Sunday lunch buffet special during the Sunday dinner shift and short change the restaurant.

Time Theft – Your busy restaurant owner knows that some employees ask their co-workers to punch in for them if they are running late or stay on the clock during lunch breaks. With TouchSuite, the merchant can control this area of loss easily and effectively in a number of ways. Merchants can add swiped key cards for each employee that they must clock in with. If they want even more control they can add a bio-metric scanner into the system that requires a finger print to punch the clock. Business owners can run daily or weekly time reports as well, to see which employees are consistently working past their shift times. Restaurant owners can run labor reports to see if they are over or under staffed during particular services and make staffing adjustments.

Inventory Control – TouchSuite POS systems have robust inventory features so that business owners can control and monitor inventory information every day. Keeping an accurate tally of food, beverages and other supplies decreases the likelihood of theft and increases the chances of noticing irregularities. Of course, you can also suggest that your client adds a remote monitoring system with multiple cameras placed over the cash registers, back doors and other theft hot-spots.

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