Internal Theft of $70,000 Uncovered in Less Than 180 Seconds

March 9, 2023

Quantifying the ROI from use of the Solink platform

The need has never been greater to gain more complete visibility into business operations. Portfolio company Solink, a provider of cloud video surveillance solutions, offers technology that adapts quickly to ensure client facilities and assets, as well as staff and patrons are secure and safe.

Integrating with existing Point-of-Sale (POS) systems, security cameras and other business operation systems, the Solink platform creates a dashboard of searchable moments from onsite camera footage that are synchronized with business transactions. This enables clients to pinpoint suspected theft, spot security or safety concerns, catch coaching and training opportunities, and monitor for standards including customer experience and compliance deviations.

“In year one working with Solink, we had $900,000 in savings by significantly improving days of dishonesty and locking down alerting and data access,” stated Aaron Rogers, Senior Director Retail Operations at financial solutions provider, CNG Holdings, Inc. “Now, we save over $1 Million every year.”

Technologies that deliver Return on Investment (ROI) allow companies greater resilience in the face of constant change. This has never been more prevalent than these past few years. No surprise, ROI—more precisely, the ROI of security investments (namely, video surveillance and intrusion systems a.k.a. alarm monitoring) was a prevalent theme at Solink Secure Summit, the inaugural customer conference hosted by Solink from February 6th to 8th, 2023 in Scottsdale, Arizona that attracted attendees from leading global brands.

One of the presenters was an independent third-party company, who conducted a 120-day head-to-head comparison between standard panel alarms and Solink video alarms in a national restaurant group across a sample size of 5 locations (out of 15,000 total). The results? Standard panel alarms generated police dispatch 90 times over that period and nearly 300 internal phone calls (many requiring staff to answer phones and leave their homes in the middle of the night). The majority of those incidents were determined to be false alarms, which resulted in fines totalling $15,750. By comparison, the Solink platform requested police dispatch only twice. Both alarms turned out to be valid, eliminating any fines for false dispatches.

Solink Secure Summit attendees, including representatives from T-Mobile, Dollar Tree, and Lululemon, echoed what other clients already confirmed. Solink offers clients ROI in several areas of their business. In their own words, Solink:

  • “Uncovered $70,000 in internal theft in under 3 minutes.”
  • “Reduced food costs by 1% per year.”
  • “Slashed false alarm costs by 85%.”
  • “Reduced internal fraud by up to 80%.”

Providing real-time situational awareness, video alarm monitoring solutions give businesses more than just security. They help organizations improve customer service and operations.

Shauna White, Vice President of Marketing at Solink explains: “We often hear from clients that working with Solink has been transformational for their business, driving savings of up to $50,000 per month and uncovering hundreds of thousands of dollars in risk.” Shauna continues: “Another area where our solutions come into play is in addressing a lack of employee training that can cause errors. While those errors are not malicious in any way, they can be very costly. Finding these errors and addressing the employee training issue can save our clients 1-2% right off their bottom line.”

Solink has seen growth internationally, and a considerable percentage of that is a direct result of customers expanding and installing Solink into their global footprint. The company currently has over 15,000 customer locations in 15 countries. According to Fortune Business Insights, the global Video Surveillance as a Service (VSaaS) Market Size is projected to grow from USD $4.09 billion in 2022 to USD $13.16 billion by 2029. As a leading innovator in this market, Solink is well positioned to capture continued growth.

To learn how Solink can improve the bottom line of your business, visit solink.com.

 

Wesley Clover invests in a range of technology companies, and they bring impressive innovation to markets and clients around the globe. I/O is our way of sharing some of the best insights. I trust you will enjoy them.

Terry Matthews, Chairman