Don’t Fool Around Guessing If A Loss Prevention System Can Save You Money; Discover What Your ROI Will Be With The Free Loss Prevention Calculator
I work in an academic library and currently we are working on an assessment plan that will fit into our University’s strategic plan. Part of what we are doing is looking at what changes we have made, programs we have implemented and projects we have undertaken and we are trying to measure the success of those programs. This is not always easy to do. Some of the things we have done are easy to measure. For example, we changed some checkout policies for laptop computers so that they are one day checkouts during the week but on Fridays they are checked out for an entire weekend. This was not always the case. We used to make laptop checkouts 24 hours period. We changed the rules so people could go out of town for a weekend and athletes could travel to games without worrying about trying to renew over the phone or missing a deadline. The result was a reduction in the number of late returns and the fines collected. What is the Return On Investment? One might say we lost dollars so that was a negative return. Not that our student body did not have to pay out as much and could enjoy weekends was a positive return. It also led to happier customers for us to deal with. As we continue to look forward we are planning other projects and we need to anticipate what the Return on Investments will be in those instances. Likewise, for retailers it is important to take a look at theft and fraud and make plans for how to reduce shortage. Will it cost you money? Will you get back what you invest in it? Can Loss Prevention be free? Perhaps.
The Free Loss Prevention Calculator is a tool you can go into, at no cost and begin making plans on reducing shortage by investing in an electronic article surveillance system. You enter information in a few fields, your company annual sales, and how much you would like to invest in Checkpoint electronic article surveillance (EAS) equipment. The program estimates your store’s beginning shortage at 1.2 %, the average amount for most retailers nationwide and an estimated reduction of shortage to about .65%. The calculator then gives you the number of months it would roughly take for an EAS system to pay for itself. In other words by paying back in savings what you spend on the system it really does pay for itself, answering the question, “Can Loss Prevention Be Free? Afterwards you can add what you save to your profit line or consider using them for business expansion or increasing staff. By the way, when using the Free Loss Prevention Calculator, none of the information is saved and you can change information as much as you like.
The question then becomes, “If the system pays for itself and then I start making money, how is hiring more staff or expanding my business adding to my profit line?” What happens when you add staff to your stores is that you make a positive impact in several areas. More people on your salesfloor means more customer service, and more people finding the items they want. Additional sales people have the opportunity for more suggestive selling, helping people realize there are things they need or could use with a purchase they are making. For example someone shopping for a printer may not realize they also needed additional ink or a ream of paper. Expanding the business itself, increasing your store floor space or opening an additional store translates to sales growth too. There is your ROI simply from the purchase of an anti-theft system for your store. And you invested because a Free Loss Prevention Calculator showed you what you could save from reduced theft.
Can Loss Prevention be free? It can be, but the most effective way to convince you is for you to try out the Free Loss Prevention Calculator.
Get more information on The Free Loss Prevention Calculator, contact us or call 1.866.914.2567 today.