Traditionally, talking about security has never been the first thing to cross business owners or managers minds when rolling out their business plan. However, many Australian businesses operate in a state of fear once they realise how vulnerable their business is to a security breach.The Victorian Police released alarming statistics about crime against property from 2013-2014 citing 273, 413 recorded offences. According to PwC’s Global State of Information Security Survey, Australia is leading the world in cyber security incidents increasing by 109 per cent to 9,434 over the past 12 months.

A global study from Accenture revealed that many business owners and company directors have prioritised security in order to identify and prevent threats that could harm business operations. Rather than taking the reactive approach, businesses are prepared to commit to proactive security measures that will prevent breaches to their business’s physical and virtual operations.

TheAustralian Cyber Security Centre has predicted an increase in cyber-crime over the next decade and that the Australian government and private sector must be vigilant when it comes to taking responsibility of cyber data that could affect the Australian public. Australian security specialists Chartercom Security, have provided the following considerations when selecting a security system for your business.

Vulnerability to the business’s physical presence.

Minimise risks to the business’s physical presence by investing in security surveillance that can provide visibility in all areas of the business. This includes:

● Monitoring staff and visitors through security cards or access pins.

● Installing security cameras in the business that will monitor interactions with inventory.

● Leveraging security patrol that can monitor all physical areas of the business and alert managers or security teams of any potential security breaches.

Internal theft.

Internal theft is one of the biggest causes of shrinkage for a business. Businesses need to prevent this by monitoring staff and visitors that come into contact with inventory. Added security systems such as cameras can also deter activities of theft in your business. Business managers should also foster a positive workplace environment that encourages staff to adopt best practices and to discipline any staff engaging in theft.

External damage.

Businesses also need to protect the exterior of their business from vandalism activities such as graffiti. Ensure that the perimeter of your business is well lit and maintains security presence through cameras or patrols.

External theft.

Businesses need to take security measures that will protect them against external theft from shoplifters and intruders. Invest in alarm systems, camera surveillance and security patrols that can help deter would-be criminals.

Threats to the business’s cyber presence.

The threat to a business’s IT security is predicted to rise over the coming decade. Businesses must enforce strict security measures that will protect business and personal data from the threat of hackers, viruses and malware.

Recommended actions

Invest in staff training.

Educating your employees on loss prevention will help to minimise shrinkage in your business. Have them understand the impacts on the profitability for the business and how shrinkage can impact their job security. Some things that staff can look out for includes:

● Monitoring the business metrics to see if the cost of goods is increasing, but the sales are the same or decreasing.

● Ensuring employees are reporting shoplifting.

● Inventory costs are reducing, but there aren’t any reports of theft.

● Sales are down consistently when certain employees work.

● The cash drawer never balances.

● Employees have a high number of refunds, voids and minimal sales.

Check with your security company to find out if training will incur any additional fees.

The threat of crime against businesses may be high, however they can take action to deter criminal activities with the right security setup.