19 Employee theft
We have already touched upon the need to protect your guests’ details from outside theft, but what about internal theft or unintentional financial malpractice?
The pace of business within the hospitality industry is fast and it can be hard to keep up, but loss prevention solutions and exception-based reporting can make a world of difference.
| Advertisement |
According to Micros, statistics show that fraudulent POS activity can account for an average of up to 4% of sales. That means that one in every 25 transactions per point of sale could prove costly to your business.
Large hotels, restaurants or entertainment venues usually have numerous POS terminals within a facility, which could translate into a huge number of fraudulent transactions every day. Sadly it is estimated that 60% of losses can be tied to employee theft.
With exception-based reports, these instances can be tracked, recorded and you can take corrective action. Micros-Retail’s XBR loss prevention system has been a leader in the field for around 20 years and the company is now aggressively expanding the system in the hospitality industry throughout the Middle East, including at Atlantis The Palm, Dubai.
Article continues on next page ...
Search our database of more than 2,700 industry companies
Feb 5, 2013 , Singapore
Hi Dilip, i thought your comment was pretty interesting. I agree with you that hotels needs to start implementing more tools and technology to improve guest satisfaction. Also, Thanks for the tip on the Geteco tool you mentioned in your comment. I just visited their website and I must add that it...
Jan 23, 2013 , Singapore
An interesting read. Hotels consider guest satisfaction as one of the most important aspects within the hotel industry. There have been an emergence of tools and gadgets that have come up in recent times for hotels to use to better equip themselves for improving guest satisfaction levels. Being i...