Shoplifting unfortunately affects all brick-and-mortar businesses. However, hardware store technology that combines POS with inventory management software allows you to mitigate your risk and minimize theft in numerous ways.
It’s a harsh reality, but sometimes, your own employees can be the source of significant revenue losses. While the average shoplifting incident costs a retailer around $350, the average employee theft incident costs approximately $1,377!
In the digital economy, guesswork is being replaced by data-driven decision making, as businesses harness data to make smarter and faster decisions. Modern software solutions, particularly cloud-based, integrated ERP systems, allow businesses to capture, manage, analyze, and leverage data from all aspects of their operations, providing real-time insights and enabling businesses to move at the speed of their customers. As customer expectations increase and the marketplace becomes more competitive, businesses need to replace traditional guesswork with robust ERP solutions to survive and thrive in the data-driven economy.