Protect Your Restaurant, Your People and Your Money with CLEARVIEW.
For all the focus that has been put on cybersecurity and deterring cybercriminals (and rightfully so) perhaps not enough attention is being paid to analog criminal activities – ole-fashioned till theft. As much as we would like to think that kind of thing would never happen in our own locations, the numbers tell a vastly different story.
According to a study by Oklahoma State University, employee theft is responsible for 75% of inventory shortages and works out to be approximately four percent of restaurant sales. One of the best ways to deter this type of activity is by putting in place a system that keeps a constant up-to-the-second running tally of how much cash should be in the drawer at all times.
The fact is that things move so fast with cash coming in and out from all the time that it is challenging to stay on top of things at all times. You have cash transactions, debit tenders, credit tenders, third-party order platforms and gift cards to name a few. What happens when the window cleaners are paid from cash out of the till? How is that tracked and accounted for?
In the case of the window cleaner, that payment might be performed as a payout on the register system that then would come through automatically as a unique financial transaction in CLEARVIEW, or you can manually enter and track those details directly in CLEARVIEW.
The activity of somebody having to track cash deposit entries in CLEARVIEW enables the capability for flagging and alerting around thresholds of cash plus/minus that exceed allowable limits. Restaurant owners and managers will be able to instantly tell if there are anomalies or suspicious activity. And as many QSR’s hold their cashiers responsible for any shortfalls, it’s an added measure of protection for them as well.
If you look at the rise of online ordering, we help you reconcile with Uber, Doordash and Skip the Dishes, to name a few. CLEARVIEW can tell how much money they owe you and you owe them for any period of time. The system can’t collect the money for you, but it will support you in the proper reconciliation of this sales channel.
Streamlining accounting practices is yet another reason to explore what CLEARVIEW has to offer. Seamless integration with your accounting solutions makes it easy to reconcile whatever shortage or overage there is in your general ledger. If every bit of revenue and payments are not accurately tracked, then you are going to have to do it manually in your accounting system.
When you get right down to it, it is really about traceability and accountability. Whether that’s cashiers, restaurant managers, or third party order platforms, CLEARVIEW supports the management and reconciliation of all your financial transactions. The key is to streamline all those activities and centralizing them into one view of your entire operation toward the coming and going of money. This is how you protect all involved, by holding everyone to account.
To find out how CLEARVIEW can help your business become more profitable, reach out to us at + 1 866 687 8027 or email@example.com We’d love to discuss it with you.