Secure Your Retail Outlet Against Internal Threats

While retail stores go to great lengths to deter theft by their customers, the reality is that the greatest threats to your bottom line are often internal.

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While retail stores go to great lengths to deter theft by their customers, the reality is that the greatest threats to your bottom line are often internal. Employee theft, inventory shrink and high administrative costs can affect your profitability with small losses that quickly add up. Read on to learn how you can help mitigate internal threats for your retail outlet when you drive processes and increase accountability with Traka’s solutions.

Threat #1:  Lost or Misplaced Keys

Misplaced keys are a constant hassle. With the high turnover rate in the retail industry, it’s no wonder that lost or mismanaged keys become a security threat, and if these keys fall into the wrong hands (or remain in the hands of a disgruntled employee), theft can follow.

Not only is a lost key a threat to your security, but it’s also a threat to your wallet. Rekeying expenses can add up as you scale your business, with a rekeying incident easily costing $200 per door. Multiply that cost across hundreds or thousands of locations and it can have a severe impact on your bottom line.

Our Solution:  Sensible Key Management

Sensibility is key to securing your retail outlets and fostering employee accountability.  Traka’s iFob is a reliable and durable device that uniquely identifies every key set to Traka’s administration software, enabling a complete audit trail to be generated. The Traka iFob features:

  • Compact, durable and maintenance free
  • Metal construction for years of reliable use
  • Guaranteed unique 48-bit electronic ID – no two are the same
  • Locks keys in place when used with locking Receptor Strip

Threat #2:  Lack of Accountability in Pooled Devices

Employee theft was the second leading cause of inventory shrink in 2015 for retailers. Many times, opportunities for internal theft come from lack of accountability and oversight over employee operations, making your scanners and label printers a bigger target than your merchandise. A surprising number of retailers were unaware of who last had their devices when they were damaged or “lost”, and couldn’t verify the accuracy of their manual record keeping.

Our Solution:  Secure Device Storage

When employees know there is full visibility over who has access to pooled devices, they handle equipment much more responsibly. This doesn’t just mean you’re protecting against inventory shrink, but also that your scanners and other devices are likely to enjoy longer asset life from being treated well.

Enter Traka’s secure Lockers - these systems not only safely store and charge your devices, but monitor their use 24/7 with our intelligent administration software. Some highlights of the technology used in Traka’s lockers include:

  • Audit usage and strictly control access to assets
  • Integrated charging options
  • First In, First Out to ensure that only a fully charged device is deployed, and to guarantee even asset utilization.
  • Fault Logging feature allows users to report any issues with a device, and automatically notify a manager

Threat #3:  Costly Human Error

When there’s too much administration and overhead in your processes, the probability of human error increases. Having a supervisor distribute keys, scanners and other important assets can feel tedious and inefficient, which means people are more likely to “cut corners” to save time and get shifts started up faster. This leads to the issue we mentioned previously: inaccurate record keeping.

Our Solution: Automated Administration

Traka has software options to help manage and audit your retailer security needs at every level. Traka Web and Traka Touch are streamlined and intuitive software tools with innovative features, such as:

  • Easy access to multiple items quickly and efficiently
  • Reports on activity, status, utilization, exceptions, and permissions
  • Authentication via PIN, access badge or biometrics
  • Integration with existing access control, HR databases or third-party systems
  • Automatic notifications to managers, supervisors or service teams by email or SMS

When you implement a scalable Traka solution, you have the capability to automate the process of logging each user’s interaction with your keys and equipment, and efficiently audit and monitor systems to keep your records reliable and tamper-proof. This allows your business to consistently keep your employees accountable, and removes the need for constant human oversight. Our team at Traka is focused on helping you secure your retail outlets against internal threats while decreasing high administrative costs, providing you a fast return on your investment, and a lasting improvement to your bottom line.

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Or ask how you can change the way you approach key and asset management by contacting us today.