Las Vegas, NV (PRWEB) May 07, 2012
eConnect, Inc., is a leading loss prevention software developer providing proactive video intelligence that reduces financial losses caused by internal theft at the Point of Sale. eConnect has been providing loss prevention software for years and there are some common scams that occur again and again.
#1 Discount Scam on Cash Transactions
eConnect has a feature in its interface that compares employees against each other to determine if one employee rings up more discounts than the others. In many cases there are one or more people who stand out among their peers and it is usually easy to see. eConnects video analysis assists in verification of the instance.
#2 Line Item Voids
Almost every POS system in the world provides the ability to do a pre-check line item void in case the cashier rings up the wrong item, but this function is also used to steal money from the cash register. The eConnect system has found thousands of cases where this has occurred.
#3 No Sales- Working with an Open Till
The No Sale function can be locked down in many systems, but it is not convenient to the customer. Also once a regular cash transaction is complete, the cashier can leave the cash drawer open slightly so they may work from an open drawer. This allows them to pick and choose certain cash transactions in which they can pocket the entire amount of the check. eConnect has a report trigger for open cash drawers which is interfaced to surveillance for quick evaluation of the employee.
#4 Multiple Transactions for Less Than $1
eConnect customers have found hundreds of cases where employees ring up cheaper items, but then give away more expensive items to someone they know or in many cases to earn a bigger tip from the customer. eConnect’s business analysis tool and dashboard specifically look for employees who have average transaction revenues below their fellow cashiers.
#5 Reprint Check Function
Most POS systems have the reprint check function enabled for many reasons around the operational benefits, but this is a known vulnerability with the system. Cashiers & Food servers will use the reprint check feature to steal the cash when there is a duplicate transaction. With eConnect business intelligence, customers routinely find and respond to these events.
#6 Total Due $0
When there is a check with a total due of $0 or negative amount due, this indicates a total check void, a credit or a refund, which is an open door for fraudulent activity. eConnect has caught many instances of this where cashiers and managers were in collusion to steal funds.
#7 Vouchers, Casino Comps, Free Coupons
A major vulnerability in any operation is the liability that comes with free giveaways. The eConnect platform has an advanced algorithm to detect these transactions and measure them by the employees who redeem them to see if there are abnormal amounts of redemptions. These redemptions can then be visually verified through associated surveillance video to determine legitimacy of the transaction. The eConnect software has assisted many business operators in stopping this type of scam.
“The eConnect loss prevention tool was built for businesses who sell their products via POS,” commented George DiGrandi, eConnect’s Chief Operating Officer. “Over the years and with the help of our customers, we have identified the vulnerabilities of the POS system and have delivered a solution to mitigate losses caused by them. This has resulted in millions of dollars in loss prevention for our user community.”
eConnect currently has installations in companies across the US, Asia and recently has expanded to South America. Their next goal is to expand the product line to Europe.
See eConnect in booth 208 at Southern Gaming Summit in May http://www.sgsummit.com/
See eConnect at G2E Asia in in May http://www.g2easia.com/
eConnect is a software company in the security industry which provides financial transactional analysis with visual verification. This is accomplished by synchronizing transactional data from point-of-sale (POS), casino systems and games to digital video surveillance, producing the best fraud deterrence tool in the industry. The software tool also increases the effectiveness of employee productivity, allowing managers to easily identify common employee errors. The software provides a dramatic return on investment usually within 3 to 6 months.
eConnect integrates their products with all major gaming, hospitality and surveillance systems, providing information which is critical to business efficiency and profitability. eConnect integrates with other industry leaders like Pelco, AD, Bosch, Nice, Honeywell, Axis, IndigoVision, Dallmeier, Surveillus, Micros, InfoGenesis & Retail Pro. EConnect's core product creates key integrations with other business systems like electronic casino games, Casino Management Systems, Retail POS systems, ATM, TITO, Banking Cage and Credit TRM machines. eConnect interfaces to many other transactional based systems providing real-time summaries and the dynamic ability to easily build custom queries. Since its inception eConnect has created powerful tools that change the way businesses operate and retain profits.