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Business loss prevention helps to save a company’s money spent on buying stock, equipment, and technology. Reliable Event Security powerfully facilitate the protection of valuable assets in cases of a high-profile event or launch, where the probability of theft or vandalism is drastically higher.

Effective loss prevention strategies that emphasize the security of products and property can decrease losses and save the business from a lot of trouble. Furthermore, this can improve the customers’ satisfaction.

46% of small-to-medium businesses use the manual method or don’t track inventory at all, resulting in the issue of overstocking and understocking, which is detrimental to their profitability.

Moreover, RCC, the Retail Council of Canada, further mentioned that some members even experienced a 300% rise in thefts as compared to 2020, which adds up to a total of $5 billion a year in losses. In addition, there were 6,983 more break-and-enter crimes than in the previous year, representing a 5.55% increase over the past year.

As the number of thefts and break-ins continue to increase, it is apparent that effective loss prevention policies in companies should be put in place, and security workplaces should be taken seriously. According to Statistics Canada, in 2022, the shoplifting rate had a sharp increase of 31% compared to the year before.

By introducing the concept of Mobile Patrol Security, the premises can be watched in a real-time manner, early detection of potential threats is made, and the threats can be responded to quickly, ensuring smooth and uninterrupted business operations.

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Implementing effective loss prevention measures, such as security guards and cameras, enhances customer satisfaction by stopping theft and damage to products and property, increasing consumer confidence and loyalty.

Carbyne®, a global leader in public-safety technology, is excited to announce that the City of Lawton, Oklahoma, has selected Carbyne's APEX platform ...

Moreover, these techniques carry a high possibility of mistakes and insecurity. Adopting a better inventory management strategy and security solution would help these companies make the process more efficient and less vulnerable to losses.

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The brand image is the number one element of customer trust and overall business success. Business loss protection is an important aspect of the business image, achieved by preventing incidents that can affect the business’s reputation. By having a solid security system, you can protect your business and build a positive reputation for yourself.

There are different types of fraud, such as payment fraud in retail and billing fraud in healthcare. Statistics show that businesses lose 5% of their annual income to fraud, so internal control should be rigorous, and audits should be performed regularly.

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Such a protection mechanism not only minimizes the financial setback but also provides the needed resources for business expansion and development.

Businesses from different industries are exposed to different issues that can lead to a decrease in profit. Through the knowledge of these shared causes and statistics, businesses can adequately develop strategies to reduce exposure.

"The integration of Carbyne's real-time 911 data into the Fusus by Axon platform opens up critical new opportunities for public safety," said Fusus by Axon Senior Vice President Chris Lindenau. "By providing law enforcement with a clearer picture of the emergency, including details like the tone of the caller's voice and background noises from listening to the emergency call, we are empowering them with the information they need to respond effectively and efficiently. This collaboration can help drive lifesaving outcomes for communities and law enforcement agencies across the country."

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May 20, 2024 — These strategies range from employee training to anti-theft software and developing a better store layout. Retail inventory loss causes.

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Shoplifting and employee theft are two of the leading causes of theft and a great challenge. Retailers, on average, have 61.7 billion dollars in shrinkage annually. Theft by employees makes up approximately 30% of these losses. Besides, the construction industry is very vulnerable, with 21% of sites being victims of equipment theft every week while only 25% can be recovered. Hence, it is important to implement stringent security measures to contain this problem.

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Undertaking comprehensive security measures such as Fire Watch Guard Security during critical times could also reduce the risks, which will be a plus for your business regarding insurance coverage.

This article explains the major causes of business profit loss and the importance of loss prevention strategies for profit-making businesses.

Flexibility while running security operations is essential for modern business. Through Flexible Patrol Options, the security system offers businesses a choice between live onsite and remote offsite guards. This way, it becomes possible to secure a business cheaply and effectively. This adaptability of security is at the center of meeting the needs of the growing threats or business expansion.

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The figures serve not only as a source of urgency to adopt security measures and loss prevention methods but also to protect business assets and ensure the smooth running of business operations. Appropriate security measures like strengthened physical security, advanced surveillance, wide-ranging training of staff on security protocols, and restricted access are the basis. It works not only as an external protection measure but also tackles internal risk factors like employee theft and fraud that can harm your business if not controlled.

"Integrating critical data between both the Fusus by Axon and Carbyne platforms enables first responders to receive real-time, actionable insights, which can enhance their situational awareness and decision-making," said Amir Elichai, CEO and Founder of Carbyne. "I believe that in 5-10 years, the public safety industry will undergo significant changes. Collaborations with leaders like Axon are the fastest and most secure way to facilitate the transition into the next generation of 9-1-1, and can provide the data integration that emergency communications centers, real-time crime centers and first responders need."

Stolen products cost businesses money and hinder profit. Developing efficient loss prevention strategies can preserve profitability and stimulate business expansion. Investing in robust security devices like CCTV surveillance, access control, and professional security ensures the safe delivery of merchandise to retail displays.

A strategic loss prevention plan for businesses must include early detection of threats and preventing extensive losses before they escalate. Proactive Loss Prevention systems are designed to instantly identify and fix problems instead of using reactive measures and initiating the possibility of business disruption and financial issues.

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Rapid response is a key component in reducing the consequences of security incidents. Rapid Alarm Response guarantees that all alarms are met with instant actions, thus giving the shortest response time. This fast response ability can be the game changer between a minor incident and a major security event.

The sustainability and profitability of any business can be ensured only if loss prevention is done correctly. Through the implementation of efficient loss prevention strategies, businesses can secure their assets and minimize financial losses, which in turn helps to maintain a better reputation among customers and within the market. Nonetheless, comprehensive security and risk management is a measure that requires professional assistance. This is where G Force Security fills in the gap. G Force Security has a proven history of providing security services tailored to the client’s needs and modern loss prevention solutions. G Force Security guarantees your business will be well prepared for any security issue. By teaming up with G Force Security Services, you not only protect your business but also demonstrate your dedication to the high-quality standard of asset protection and profit safeguarding.

Loss prevention is a crucial part of business operations that helps a lot by providing tangible benefits such as satisfied customers and lowered theft and damage to stocks. These strategies play a major role in the complete security plans designed to reduce the losses incurred by the business. In the following section, we will discuss how loss prevention measures can benefit your company.

Streamlined Information FlowThe collaboration between Carbyne and Axon will allow the customer to receive critical 911 caller information, such as audio, chat, live video feeds, and more, to be incorporated into the emergency response process. This integration will allow law enforcement and public safety agencies to receive relevant, location-based data as they approach the scene, providing more relevant and accurate data to make more informed and precise real-time decisions.

Carbyne's platform leverages artificial intelligence (AI) to enable faster, more efficient emergency resolution with features like live two-way translation of non-English calls, prioritization of calls based on their urgency, and the integration of AI virtual assistant to handle non-emergency calls. By integrating this 9-1-1 caller data into the Fusus by Axon platform, which aggregates and analyzes various public safety data streams, emergency communications centers (ECCs) and law enforcement public safety agencies can gain additional situational awareness for improved decision-making during pressing incidents.

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As loss prevention for businesses is a key aspect of business activities, it helps minimize the disruptions that can result from theft, fraud, or other security incidents. These disturbances may result in a change in daily processes and affect the workers’ productivity, which in the future can lead to a loss of output.

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Innovative Collaboration Can Empower Law Enforcement with Unprecedented Access, Situational Awareness, and Streamlined Information Flow for Faster, Better-Informed Decisions

Deliberate sabotage or vandalism can cause high expenses. For instance, product damage accounts for 34% of the returns resulting from packing. This is a point of revenue loss that e-commerce businesses can not ignore.  Moreover, substituting a damaged product with a new one can lead to as many as 17 times more expenses than the cost of shipping the product in the first place, highlighting the apparent money loss.

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For example, in 2020 in Ontario, there were 22 occupational health and safety incidents in the construction industry. By focusing on loss prevention, businesses can protect their workforce and attract more employees, increasing productivity and revenue.

NEW YORK, Aug. 5, 2024 /PRNewswire/ -- Carbyne, a global leader in public safety technology, today announced a promising collaboration with global public safety technology leader Axon, a trusted provider of real-time crime center technology for public safety. Carbyne and Axon will integrate Carbyne's advanced 9-1-1 caller data into the Fusus by Axon platform and Fusus by Axon's real-time security camera feeds and sensors into Carbyne's Cloud-Native Call Handling Solutions. This integration creates a seamless flow of critical information for the customer, enhancing emergency response and situational awareness for law enforcement and public safety agencies.

Carbyne (Headquartered in New York, NY) is a leading global provider of cloud-native mission-critical contact center solutions. Carbyne is one of the largest rich-data providers for emergency response centers, delivering over 250M data points per year, all in a unified platform. Our technologies enable emergency contact centers and select enterprises to connect with callers as well as connected devices via highly secure communication channels without needing to download a consumer app. With a mission to redefine emergency collaboration and connect the dots between people, enterprises, and governments, Carbyne provides a unified cloud-native solution that provides live, actionable data that can lead to more efficient and transparent operations and ultimately save lives. With Carbyne, every person counts. Learn more at Carbyne

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An efficient loss prevention plan for businesses could cause insurance companies to lower premiums since the risks of theft and damage are drastically reduced. So, insurance companies usually charge less to businesses, which are the ones that take a proactive role in securing their operations.

About AxonAxon is the technology leader in global public safety. Our moonshot goal is to cut gun-related deaths between police and the public in the U.S. by 50% before 2033. Axon is building the public safety operating system of the future by integrating hardware devices and cloud software solutions that lead modern policing, defense and security. The Axon Ecosystem includes TASER energy devices, body-worn cameras, in-car cameras, cloud-hosted digital evidence management solutions, productivity software, real-time operations capabilities and third-party integrations through Axon's partner network. Axon's growing global customer base includes first responders across international, federal, state and local law enforcement, fire, corrections and emergency medical services, as well as the justice sector, commercial enterprises and consumers.

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In emergency situations, every second counts. According to the Federal Communications Commission (FCC), reducing 9-1-1 response times by just one minute could save as many as 10,000 lives annually. By integrating Carbyne's Next Generation9-1-1 caller data with the robust capabilities of the Fusus by Axon platform, this collaboration will aim to bridge information gaps and expedite response times.

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Implementing security measures like CCTV in businesses is not only a preventive measure against theft but also for protecting human lives. The surveillance systems, including cameras and others, help control and lower workplace accidents.