Surveillance Systems, Cleveland, Ohio
Thinking about purchasing a Surveillance System? Live near Cleveland, Ohio? Not sure if you can afford a Surveillance System? I have some interesting facts for business owners that will help you understand that installing a Surveillance System into their business is one of the best investments you can make!
Let’s first start with internal employee theft assuming that you are not a retail business. The below study is from the University of Florida, from 2005 (Being an Ohio State fan, it really hurts me to have an article from the Gators).
National Retail Security Survey , employee theft was estimated to be responsible for 47% of store inventory shrinkage. That represents an estimated employee theft price tag of about 17.6-billion dollars per year. This astounding figure makes employee dishonesty the greatest single threat to profitability at the store level.
The 2003 study found the average dollar loss per employee theft case to be $1,762.00 compared to $265.40 for the average shoplifting incident. Despite these facts, most retailers mistakenly focus their loss prevention budgets on shoplifting.
Ok, so we have addressed employee theft and if you have a retail business, shoplifting. Now, let’s talk about Bureau of Workman Compensation payments and the average claim. The a verage medical cost of a BWC Claim is $1,255.46 and the average indemnity cost is $5,075.21.
In the mid 1990’s the State of California estimated that fraud accounted for 25% of all employers’ workers’ compensation costs and 10% of the claims. Ohio spends almost $12 Million per year on their “Fraud Detection Group”, they know there is a problem.
So let’s do some quick math! You are a $2 Million business and you have 10 employees, you are NOT a retail business.
Employee Theft- One instance a year Cost $1,762.00
BWC Fraudulent Claim- You have one this year Cost $6,330.67
Total Cost $8,192.67
The average Surveillance System can cost between $500-$1,000 per camera installed. If you purchased a 16 Camera Surveillance System you would pay between $8,000-$16,000 depending on the type of cameras you select.
This is just a quick look at just two areas where you can see a financial payback on installing a Surveillance System. Not to mention some of these systems can be integrated with access control, perform HR functions, can record audio, and can send warnings and updates via phone and email. At PCSurveillance.net we can help you design the right Surveillance System for your needs. We sell you what you need, and provide expert technical support, and installation if needed.
Ryan Temple is the Director of Operations for PCSurveillance.net. PCSurveillance has been serving integrators and manufacturing customized Surveillance Systems throughout the US since 2002. You can read more of Ryan’s articles at http://blog.pcsurveillance.net/ Ryan can be reached at ryan@pcsurveillance.net
