With sales up and cash in the business up, Christmas time is the time for retailers to be vigilant in managing cash. From taking care at the counter in customer interaction to ensuring honesty of employees, now is the time to revisit processes to ensure that the business is protected.
- Use employee initials for each sale. yes this adds time to each sale. The benefits far outweigh the time cost.
- Require that the amount tendered be entered for each sale.
- Run refresher training on handling giving change.
- remind your team about counterfeit notes.
- Be on the lookout for over the counter scams.
- Take a zero tolerance approach to end of shift balancing.
- Do spot cash balancing during the day, at random times.
- Use stock control for high at-risk items such as cigarettes. This will quickly identify a theft problem. Indeed, you should use full stock control for all stock items.
- Talk to Tower Systems about theft check options within our Point of Sale software.
Yes, some of these measures take time. The financial saving from greater vigilance to the business could be considerable.
Christmas in retail is a time of higher than usual risk. Take care. If tower Systems can help in any way, please contact us.