Ways to Protect Your Business from Fraud

It’s unpleasant to consider the idea that your business might be impacted by fraud.

Unfortunately, it’s a reality for all industries and businesses. For the restaurant industry in particular, fraud can take on many forms. Food fraud is a growing problem that costs the industry close to $40 billion a year. So, how do you combat something that seems almost unavoidable? Here are a few ways to protect your business from fraud:

Food Labels:

When you have an efficient and consistent food labeling system, food is monitored more closely and the chance of theft minimizes. This monitoring allows managers and owners to compare product usage with on-the-books profits. Food labeling makes the tracking of food shelf life easier and provides a means of locating the inventory closest to expiration for first-use. It makes tracking the food easier and food fraud more difficult to accomplish.

Awareness:

Understanding all the different ways fraud can happen in your restaurant allows you to be proactive about a solution. You can plan ahead and prepare for things before they happen. Obviously, fraud is common where money transactions are handled, so tills and registers are particularly vulnerable to fraud. However, it’s important not to overlook the other areas where fraud can occur. The kitchen is also susceptible to fraud via food prep, employee meals, and productivity.

Register Tape:

Register tape is a required for any consumer based business. When you use quality paper, it’s easier for customers to read their receipts. This is beneficial for managers as well because there’s no question about what was recorded. Counterfeit receipts are also a problem so when your register tape is professional and high quality, your staff will have an easier time picking out fraudulent receipts.

Topics: Food Rotation Labels