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Cedar Fair Installs eConnect Loss Prevention System


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http://online.wsj.com/article/PR-CO-20140106-902675.html

This sounds like a pretty good system, but it's unfortunate that this even had to be done. KI wasn't on the list of parks to get this yet, but the article says that eventually all Cedar Fair parks will have it. Phase one will include Knott's, Cedar Point, Kings Dominion, and Dorney. Pretty interesting.

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Yep. It was my understanding that phase one occurred during the 2013 season, and that phase two would roll it out to all Cedar Fair parks.

Its a good thing if it leads to reduced loss prevention and improved revenues. I wonder how much they spent on this software, and what, if any, impact it has on the speed of transactions.

I know that some places like the registers in the Festhaus are pretty large through put registers and have to be given the large volume of people that eat in that building everyday.

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I can't imagine that this system is cheap, but it must be less expensive than not having it. That's what truly boggles the mind.

I would guess that Cedar Fair got a discount in exchange for this PR piece about the vendor. Most companies don't like to talk publicly about their loss prevention strategies.

Automated systems like this are a good idea; potentially dishonest employees are a lot less likely to steal if they know they'll be caught quickly.

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I am currently negotiating with Cedar Fair to implement a monitoring solution that in essense will watch for suspicious activity within the confides of eConnect and its transactional analysis. Any malicious and nefarious activity commited within eConnects software will be traced by Overlook Monitoring. Look for the announcement in coming months. I'm very excited.

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During the course of a day, will the software consider suspicious activity if the cashier hits "no sale" to open the till and straighten out all the cash and credit card receipts two or three times a day without doing a transaction? I would do this, but at the end of the shift and or day, I always had a zero variance when I cashed out and counted down.

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^^ Honest POS operators shouldn't have anything to worry about. The "no sale" button is there for a reason.

As Terp said, the specifics would be an industry secret. Dishonest cashiers leave behind lots of clues, even when they're trying not to. This system should find them quicker.

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^ The press release says that this vendor works with the park's own loss prevention team. It will still be KI's own employees looking at evidence and investigating potential theft/fraud.

It's sad that so many people attempt to steal from their employer, usually being dumb enough to think that they'll get away with it.

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I used to work as an auditor for a relatively large carwash. I was trained on looking for potential theft. If anyone pays attention to all the different facets within a company, theft is easily done and easily hid. There is always someone who can think more outside the box and is smarter than the system. It's so easy to steal from a cash based business.

I really am surprised they said something publicly though. There is really no purpose in hiding it I suppose since most companies have a variety of things in place. It just seems a little out if the norm for a company to be in your face about it.

I am sure those who steal from their employers really don't care what it does to the employers bottom line. However, the cost is passed down to the customer. If theft is rampant, it keeps employment opportunities to a minimum and raises may not be given among other things.

Sent from my iPhone using Tapatalk

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trying to follow this thread... think this is relevant- but then again Dwight likes to go off on his own tangents.

A few years ago I had a Corporate Credit Card stolen at a Kinko's in northern Cincinnati. First problem is that the Walmart in Colerain didn't question why the individual buying the flat screen TV was paying for it in sweats and a corporate credit card (as seen on the cameras), but I digress. When trying to find out who it may have been at the Kinko's, their cameras did not offer any help because said camera's are pointed at the employees not the customers. And, this was a location at Mason-Montgomery and Fields Ertel in Mason, not necessarily a high crime area.

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I used to work as an auditor for a relatively large carwash. I was trained on looking for potential theft. If anyone pays attention to all the different facets within a company, theft is easily done and easily hid. There is always someone who can think more outside the box and is smarter than the system. It's so easy to steal from a cash based business.

With modern analytics and proper accounting, it's not so easy to hide. Loss prevention professionals know all facets and tricks.

Of course, not everyone gets caught on their first offense. Some get away with thievery many times before they see a courtroom, where they'll inevitably tell the judge that it was their "first" crime ever committed.

Theft is an addictive behavior, and the odds of getting caught increase exponentially as a thief leaves a longer trail of evidence. Some businesses will even let a thief continue, so as to obtain more evidence to hand to the prosecuting attorney.

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We did stuff like that in IT...Let someone do things that yes circumvented the system but did flag the encounter in the system...do it enough times to come out, bam, you did this, loss of access and rights.

 

IT sees practically everything :P

If they see everything why do I have to explain a problem multiple times before it gets fixed :)

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