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Addressing Business Theft: Facts, Figures, and Protective Measures

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Table of Contents:

  1. Introduction
  2. Organized Retail Crime (ORC)
  3. Internal Theft
  4. Inventory Losses
  5. Loss Prevention Strategies
  6. Resources

1. Introduction

As an entrepreneur, you have dedicated significant time, energy, and resources to ensure your venture’s success. Nevertheless, theft and fraud remain among the most critical risks faced by small businesses, posing a severe threat to your achievements and potentially leading to bankruptcy. Regrettably, no enterprise is entirely resistant to these perils, making it crucial to proactively protect your investments and future.

2. Organized Retail Crime (ORC)

In 2021, the retail sector witnessed a substantial increase in shrinkage, with losses totaling $94.5 billion, an upsurge from the prior year’s $90.8 billion, as disclosed in the 2022 National Retail Security Survey conducted by the National Retail Federation. A considerable factor contributing to this issue is organized retail crime (ORC), which presents a growing menace to individual retailers and the entire industry.

3. Internal Theft

The National Federation of Independent Business (NFIB) highlights that internal theft is a significant concern for small businesses, contributing to around 30% of all enterprise failures. Such theft is a critical aspect of business-related theft and frequently occurs within the organization. This underlines the necessity of implementing stringent measures, including comprehensive background checks, transparent policies, and robust internal controls.

4. Inventory Losses

Inventory losses refer to financial damages incurred by retailers due to various factors such as theft, fraud, and inventory discrepancies. In recent years, the prevalence of inventory losses has progressively risen, posing a considerable challenge to retail businesses’ profitability. The causes of inventory losses are diverse, including internal theft, customer shoplifting, administrative errors, and supply chain inefficiencies.

5. Loss Prevention Strategies

Consequently, it is crucial for retailers to implement effective loss prevention techniques to minimize inventory losses. These methods may involve investing in advanced security systems, training employees to detect and avert theft, optimizing inventory management, and conducting regular audits. By adopting proactive measures to reduce inventory losses, retailers can protect their profits and ensure sustainable growth in the fiercely competitive retail sector.

6. Resources

  • National Retail Federation’s 2022 National Retail Security Survey: https://nrf.com/insights/loss-prevention/national-retail-security-survey
  • National Federation of Independent Business (NFIB) – Employee Theft: https://www.nfib.com/content/resources/crime/employee-theft-is-a-crime-of-opportunity-2/
  • Loss Prevention Research Council (LPRC): https://lpresearch.org/ – Provides research, strategies, and resources for loss prevention in retail.

 

Author: With over 20 years of experience, Sting Alarm security systems is a Las Vegas-based company that specializes in providing top-notch security systems and fire protection for both residential and commercial properties.

Sting Alarm
(702) 737-8464
7120 Rafael Ridge Way
Las Vegas, NV 89119
stingalarm.com

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Temperature Monitoring Helps Businesses Rise to the Top

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A bakery in a busy Las Vegas restaurant was struggling with maintaining the quality of its baked goods. They were receiving frequent complaints from customers about the texture and taste of their products, and they were struggling to keep up with demand. They realized that their temperature control was inadequate, and they needed a more reliable system to monitor the temperature of their ovens and refrigerators.

They invested in a temperature monitoring systems that provided real-time monitoring, automated alerts, and data recording. They could now track the temperature of their ovens and refrigerators with greater accuracy and ensure that they were operating at the right temperature at all times. This helped them maintain the quality of their baked goods, reducing the number of customer complaints.

Furthermore, with the system’s automated alerts, they could detect and respond to temperature fluctuations immediately, preventing spoilage and waste. This helped them save money on the cost of ingredients and production.

In addition to these benefits, the bakery’s investment in a temperature monitoring system helped them comply with regulatory guidelines, ensuring that they met the required temperature control standards for food safety.

Overall, the bakery’s investment in a temperature monitoring system had a significant positive impact on their business. They were able to maintain the quality of their baked goods, reduce waste and spoilage, and comply with regulatory guidelines. This, in turn, helped them improve their reputation and increase customer satisfaction, leading to increased business and revenue.

The Bakery’s investment highlights the importance of temperature monitoring for businesses, let’s delve deeper into some common questions:

What is Temperature Monitoring?

Temperature monitoring is the process of tracking and analyzing temperature changes in a commercial facility, usually integrated with a security system for a business. It is essential for storing perishable goods, operate in extreme temperature conditions, or produce products that require precise temperature control to maintain product quality and safety, reduce waste, and comply with regulatory guidelines.

Why temperature monitoring is important for different types of businesses?

Food Industry: In the food industry, it is essential to ensure food safety and prevent spoilage. Improper temperature control can result in bacterial growth, which can cause foodborne illness and lead to product recalls.

Pharmaceutical Industry: In the pharmaceutical industry, it is critical for maintaining the efficacy of drugs and vaccines. Temperature fluctuations can render medications ineffective and reduce their shelf life.

Manufacturing Industry: In the manufacturing industry, it is necessary to ensure product quality and consistency. Temperature fluctuations can affect the performance and durability of products, leading to customer dissatisfaction and warranty claims.

What are some considerations for choosing a new temperature monitoring system?

It’s essential to choose a temperature monitoring system that is easy to install and maintain. Consider factors such as the complexity of the system, availability and expertise of technical support, budget, and ongoing maintenance costs. It’s also crucial to train staff on how to use the system and interpret temperature data accurately.

Can temperature monitoring systems offer unexpected benefits?

Temperature monitoring systems provide real-time monitoring and automated alerts, allowing businesses to quickly detect and respond to temperature changes. This results in increased efficiency and productivity, as businesses can address temperature issues promptly and avoid downtime.

 

Author: With over 20 years of experience, Sting Alarm Security Systems is a Las Vegas-based company that specializes in providing top-notch security systems and fire protection for both residential and commercial properties.

Sting Alarm
(702) 737-8464
7120 Rafael Ridge Way
Las Vegas, NV 89119
stingalarm.com

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How Security Cameras Shield Las Vegas Businesses from Slip and Fall Scams

Slip and fall lawsuits, which involve patrons suing allegedly negligent businesses for injuries sustained after falling, have been around for a long time. However, many slip and fall cases are ultimately proven to be scams. The National Insurance Crime Bureau (NCIB) reports that around 2,000 slip and fall cases filed per year are determined to be “questionable” — in other words, potentially fraudulent. 

Continue reading “How Security Cameras Shield Las Vegas Businesses from Slip and Fall Scams”

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Debunking Access Control Systems & Commercial Security Systems Myths

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Most misconceptions about business security systems result from decades-old security solutions that do not meet today’s safety criteria. At Sting Alarm security systems, we will discuss some of the most common myths associated with commercial security systems in Las Vegas.

Commercial Security Systems are Too Expensive

Businesses experience an average of 7% loss in profitability and 33% of businesses blame employee theft for their bankruptcy. Hence, installing a commercial security system at your business can help you prevent huge losses. A good commercial security system in Las Vegas will give you protection against intruders, employee theft, and unauthorized access while staying within budget. But installing a security system does require significant investment. Yes, it will play itself out in the long run and will save you time and money when it comes to increased insight, remote connectivity, and better control over your business’s safety.

Security is Not Important for My Business

Many small business owners believe commercial security systems in Las Vegas aren’t necessary. At Sting Alarm, we believe if your business is small, it makes even more sense to keep it protected. If it falls into the wrong hands, it can cause irreversible damage to your company, not just in monetary value but also in reputation. You cannot afford any losses like computer systems, office supplies, furniture, and sensitive business data. Every business needs customized video surveillance, which can monitor blind spots, record videos of emergency events, and send notifications in case of a threat.

Commercial Security Cameras Are All the Same

We have come a long way from analog cameras. Today, you can get a broad range of high-quality cameras that incorporate an added level of protection. These include:

  • HD quality video for clearer captures

  • Infrared camera to detect threats in the dark

  • Motion-sensor cameras

  • 24/7 cloud-enabled camera that live stream videos and stores them in cloud space

  • AI-enabled cameras with facial and human-recognition capabilities

  • Video monitoring capabilities allowing your security company to become aware of a threat and respond quickly.

  • Security cameras integrate with your overall security system through a control panel, offering an extra layer of protection.

Not all commercial security cameras in Las Vegas are the same. It depends on how you intend to use your security system and what benefits you want to receive.

Commercial Security Systems are Only for External Criminal Activities

Security systems can encourage employees to comply with the rules and regulations of the business, reduce employee theft incidents, and enforce quality control. They also assign or revoke access to certain areas, depending on a person’s authorization level. Hence, they can save thousands of dollars for business from in-house criminal activities.

Commercial Security Systems Deter Thieves

Most thieves and burglars look for unprotected places to target. Suppose you have set up a security camera, doors and windows sensors, access control panels, and decals in your commercial space. Even if a security system does not stop thieves, it can provide valuable information and evidence for catching criminals. For example, an HD facial-recognition camera can capture a video or picture of the culprit or their vehicle, assisting the police in catching them. The facial-recognition camera can let would-be criminals know the place is protected and make them rethink their unlawful behavior.

Commercial Security Systems Are Useless If a Power Outage Occurs

If your commercial video monitoring and alarm systems are 100% dependent on the electric grid, they will absolutely fail when the power goes out. Fortunately, modern security systems come with backup batteries that provide uninterrupted power supplies. If the power grid goes down, the backup kicks in, and the power continues. A good commercial security system will typically have a backup that lasts for two to three days, and that is more than enough time to outlast most blackouts.

About Sting Alarm

At Sting Alarm, we offer a variety of business security systems in Las Vegas. Depending on the needs of your business, our certified professionals will recommend the right solutions and provide you the best protection. For a security system to work well, it is essential to understand it needs to be inspected and maintained regularly.

 

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Access Control & Commercial Security Systems in Las Vegas

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As a business owner, you may have heard of access control but might not entirely understand what it means. Commercial access control is a security system that allows you to approve or revoke admission or entry into restricted areas for your employees. There are several different commercial security systems in Las Vegas that provide access control like smart locks, keycards, door readers, and mobile apps. To make it easier for you to decide which one is best for you, Sting Alarm has created an essential guide on the importance of using access control systems as part of your commercial security system in Las Vegas.

Monitoring During Erratic Hours

An access control system can record the entry and exit of your employees during working and after hours. It includes a video surveillance system that offers 24/7 live streaming and recordings.

Access for Multiple Locations

Suppose you are a holder of multiple stores, offices, or warehouses. Owning an access control system will make it easier for your employees and managers to enter specific buildings and areas. Why? Because our multi-locations access security system will work hand-in-hand with your existing security system and make it easier for you to report or respond to any access issues.

The Appropriate Clearance

If you have open access to your business, there is an increase in incidents of thefts, employee fraud, and cybercrime. Owning an access control system allows you to assign clearance only to the people they trust. This clearance can be adjusted over time, depending on the changing roles of the employee.

Automatic Lock

An access control system allows you to program your doors to lock automatically after hours and eliminate the worry over human error. By combining an access control system with your existing security system, you will get notifications of any wrongdoings in your establishments and will be able to respond quickly.

Faster Emergency Response

Whether working remotely or at the office, an access control system provides your business with extra safety and protection. In an emergency, you can use your access control system to lock or unlock specific access points in your building quickly. Your employees, office infrastructure, equipment, and proprietary information will remain protected from unauthorized access.

Schedule an Appointment with Sting Alarm

When it comes to commercial security systems in Las Vegas, business owners rely on Sting Alarm Why? We are a leading security company in Las Vegas. Sting Alarm has provided home and commercial-based security solutions, ranging from smart locks to access control systems.

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7 Reasons Why You Need to Upgrade Your Commercial Security System in Las Vegas

7-reasons-to-upgrade-your-security-system-in-las-vegas

As a business owner, you need to be on your toes regarding the security and safety of your employees, customers, and commercial property. It is crucial to install and upgrade your commercial security systems in Las Vegas. These systems allow business owners to track who can access their building, monitor criminal activity, and protect their assets.

Benefits of Having an Upgraded Commercial Security System in Las Vegas

Having an up-to-date security system installed at your business gives you the ability to log in and review events. The core benefits of a commercial security system include:

  • Acting as a crime deterrent

  • Providing or revoking access to the building

  • Monitoring your building, employees, and visitors

  • Recording evidence for police in case of a break-in or other safety threats

Having a security system installed inside and outside your business will make it difficult for criminals to carry out their misdeeds and force them to move to other, less-protected targets. A security system will help protect your investments and provide you with peace of mind, even away from the office.

Why You Should Keep Your Commercial Security System Upgraded

You may have an existing security system in place. If that is the case, ask yourself, is it about a decade or more old? If so, chances are it does not have enough features to provide you the right amount of protection. When you upgrade your security systems, you get the benefits of the latest technology, which gives you a greater level of security on multiple levels. Below are some reasons why you need to upgrade your security system:

Equipped with High-Quality Video Capture and Storage

 A modern video surveillance system will come equipped with a host of technology like infrared, motion sensors, facial recognition technology, and the ability to store a vast amount of data in the cloud. If you own an older commercial security system, you cannot take advantage of these features.

Equipped with the Best Surveillance Tools

Security cameras are the most important surveillance tools for monitoring employee activities. Why? The security camera informs you about any misconduct on the floor and encourages safety practices among employees. By upgrading your internal surveillance system, you will have access to a database of incidents, enabling you to keep a record of how, when, and why they occurred.

Ensures Video Verification and Monitoring

If your commercial security system is old, it may not blend with automated video verification. In case of a threat, an automated monitoring system sends the footage of an emergency event to the security company. The security company can then determine whether this threat is real. First responders or law enforcement authorities will be notified of the threat without going through the extra step of verifying with the business owner. This would mean a quicker response to emergencies even if the business owner was not aware of the threat.

Offers Better Access Control

At Sting Alarm, we suggest that not all visitors and employees be allowed to enter and wander through every area of your building. Modern commercial security systems offer keyless access control, making it easy to track entry into your building and restricted areas. With access control, you can easily add or revoke permission to access a site. That means that new hires can enter your building easily and employees leaving the company will have their permissions canceled immediately. In addition, it will provide restricted rights to employees based on their designation. Business owners do not have to keep track of keys and an extra level of protection to the security of your establishment is added.

Compliant With Modern Security Infrastructure and Building Codes

Businesses, particularly those that work with healthcare organizations or federal agencies, are contractually bound to keep their security infrastructure upgraded and maintained. A modern and upgraded commercial security system will comply with building and fire codes. This also encourages business owners to test, inspect, and carry their security systems routinely.

To ensure your business is sufficiently protected, you need to get your commercial security system evaluated, see what gaps it has, and find the commercial security system that best fits your needs. At Sting Alarm, we can help you boost your existing security system. Visit us at Sting Alarm and schedule an appointment today.

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Pro Tips to Protect Your Business From 3 of the Most Common Business Threats

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Your commercial business can be a target of several crimes. About 95% of all businesses suffer from theft and about 7% of annual revenue is gone. If you have been a victim of business crime, you need to implement a better commercial security system in Las Vegas. Let’s take a look at some of the ways you can protect your commercial store from the most common business threats.

Burglary

A simple lock and key mechanism are not enough to keep your property protected. A business security system can stop about 60% of all burglars. Hence, you must keep your business protected with a burglar alarm system that will notify you immediately if someone tries to break into the store or commercial space.

Video Surveillance

At Sting Systems you are offered cutting-edge technology when purchasing commercial security systems in Las Vegas. To be given optimal coverage against commercial crimes, businesses should invest in smart doors, window alarms and video surveillance systems. Adding a commercial security system will increase the chances of the culprit being caught red-handed. Video surveillance will reduce false alarms and quickly alert the security company to send first responders to your business.

Approximately 33% of all businesses in the US go bankrupt due to employee theft, which results in $50 billion annually. A single employee should never be left alone in any store area, mainly where money is kept, like the cash register. Businesses need to do background checks on the employees considered for hire.

Window and Door Alarms

Suppose an intruder breaks into your store by breaking glass or prying open your lock. In this situation, if you owned a commercial security system in Las Vegas, the sensors would blare an alarm and send a notification to the security company, who will quickly respond to the situation.

Smart Locks

If you are prone to forgetting to lock your doors, smart door locks are a very effective solution. You will be sent notifications through an app if your door is unlocked, and you can lock and arm your doors and windows remotely. You will also receive an app message if a person disarms the smart locks.

Shoplifting

Shoplifters cost businesses an annual loss of about $20 billion. By keeping high-priced merchandizes behind locked metal or glass, your chances of losing funds are smaller. At Sting Alarm, we suggest you place trusted employees near the entrance of your store. This tactic illustrates to would-be shoplifters that you have an eye on them, which may potentially stop them from stealing. Apart from this, installing an indoor CCTV camera and video monitoring system should be considered.

Indoor Camera and Video Monitoring

A high-quality camera will live stream the video of your store in HD. Thanks to the built-in image sensors, the camera can recognize the faces of the criminal clearly. In addition, the CCTV system may also be equipped with video monitoring systems allowing the security company to keep an eye on your business and dispatch the police, firefighters, ambulance, or other first responders. These systems enable security companies to verify a problem at the location, even when you are not there.

  1. In-House Theft

Approximately 33% of all businesses in the US go bankrupt due to employee theft, which results in $50 billion annually. A single employee should never be left alone in any store area, mainly where money is kept, like the cash register. Businesses need to do background checks on the employees considered for hire.

Access Control System

With a smart access control system, businesses can have better control over employees accessing certain places. You limit access to only the authorized individuals who have access cards. It also allows you to create an organized timeline of every entry and exit to restricted areas of your business, along with supporting video clips to give you a whole picture. Thanks to complete audit records, you can track activity and provide accountability. At Sting Alarm, our access control systems are 100% compliant with building codes and other requirements.

Book an Appointment with Sting Alarm

Sting Alarm is a local security company operating in Las Vegas for almost 20 years and has created strong relationships with thousands of trusted clients. We offer state-of-the-art home and commercial security systems in Las Vegas and a range of security solutions from the primary door and window alarms to AI-enabled video verification as well as monitoring systems. Schedule an appointment with us today to find out which commercial security systems are best suited for the needs of your business.

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Cameras to Combat Loitering in Las Vegas

Loitering happens all over Las Vegas, and many property owners feel the impact. When loiterers refuse to leave a business, this deters prospective customers from entering. They tell their friends and neighbors about the loitering taking place, and word spreads through the community like wildfire. Very quickly, loitering can create a detrimental effect for stretches of retailers, restaurants, casinos and other establishments. 

Continue reading “Cameras to Combat Loitering in Las Vegas”

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The Best Alarm Companies for Businesses in Las Vegas

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Based on consumer reviews, Sting Alarm is the most sought-after Alarm company currently servicing the Las Vegas Valley. Our security professionals are kind, personable, certified and safe. Don’t just take our word for it:

“The reps that came to install and update our security system were on time, professional, clean and AFFORDABLE!! They were able to train me to use our system in a clear, concise manner that is easy to understand. I would recommend everyone give STING a look, even if you are already with another provider – you may want to change up when your contract is up.” – Dave P.

Las Vegas is one of the fastest-growing cities in the United States, it’s also one of the biggest tourist hubs on the planet. While this has resulted in a strong local economy (pre-pandemic), it has also led to some negative side effects. Las Vegas is not the safest place in the U.S. and your chances of becoming a victim of property crime in Las Vegas are said to be 1 in 35.

Alarm Systems in Las Vegas 

Although there are many alarm companies for businesses in Las Vegas, not all of them provide the high-quality, state-of-the-art security systems needed to give your business the right coverage and protection.

The best alarm companies for businesses provide video surveillance and monitoring & protection against intrusion and environmental hazards. The following are some of the most important aspects of any quality alarm system in Las Vegas.

Video Surveillance and Verification

No one can be in two places at once. That is why video surveillance systems are a critical component to security systems for businesses in Las Vegas. With a video monitoring system, your security camera can continuously record both the inside of your building as well as its external parameters.

Video verification takes it to another level, especially when paired with Sting Alarm 24/7 alarm monitoring. With video verification, if an alarm is triggered it will immediately send an alert to our monitoring station. There security professionals will confirm whether or not the threat is real by quickly accessing the video recordings from security cameras located in and around your business. If the security professionals on watch at our monitoring station see an intruder or suspicious activity, they immediately dispatch authorities on your behalf resulting in a more appropriate and overall faster response to triggered alarms. Clark County has a no response policy to unverified alarms. This means without first verifying an alarm in Las Vegas the police will not be dispatched making video verification a critical component to any business security system in Las Vegas.

Monitored Intrusion Detection

According to stats, 34% of burglars enter a property through the front door and 22% enter through the back door.

An intrusion detection system can be set up to deter would-be criminals from entering your business unauthorized. Your business has multiple doors and windows, which can become easy entry points for criminals if left unprotected.

By strategically placing sensors on your doors and windows, you can deter criminals from entering your business. If they break into your business anyway, you better your chances of catching them in the act.

In many instances, burglars break glass to enter into properties. Installing a glass break detector along with your business security system can ensure that you are notified in the event that glass is broken to gain entry to your property.

“Amazing customer service and tech support. We had issues with our system connecting and the service/tech teams were on it. John/Joyce followed up and followed through on what they said they were going to do to help. David, our tech specialist, was amazing in explaining everything he was doing and what the error codes meant. They were also very fast to respond and resolve. We always got a live person each time we called, and we are very happy with their high customer service standards.” – Stephanie M.

Business Security Automation

Security automations can provide you with a better degree of control over your business operations while reinforcing employee safety. With the help of smart features and devices, Sting Alarm provides business owners with remote access controls to help govern entry to their business locations, remotely lock business doors, and manage their thermostat & lighting schedules to drive down costs associated with operating their businesses.

Through use of security automations, Sting Alarm security systems for businesses can:

  • Automatically lock and unlock business doors or arm and disarm your alarm system.

  • Automatically adjust your thermostat after business hours to conserve energy.

  • Set schedules for business lights to turn on and off as appropriate.

  • Schedule automatic alarm activation windows.

  • Provide business activity notifications so that you are made aware of unexpected activities that occur around your place of business.

Choose The Best Alarm Company for your Business!

According to our customers, Sting Alarm is a better security service provider than other big names in the industry. That’s because we’re locally owned & operated and genuinely care for our community!

Sting Alarm customers typically experience: 

  • Shorter response times to emergency events.

  • State-of-the-art & more reliable security equipment and devices.

  • Less instances of property loss.

  • 5-star customer service.

At Sting Alarm, we understand that businesses do not always require the most expensive security systems available. Which is why we design customized security systems that deliver on all our customers unique security needs while adhering to their budgets.

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As one of the best alarm companies for businesses in Las Vegas, Sting Alarm can help you make the most informed decisions concerning the security of your business.   If you have a moment, give us a call for a free consult!