An Innovative Approach To Budgeting Can Provide New Options For Loss Prevention Investments

By John Stroia, Vice President, Enterprise Security Solutions, Diebold, Incorporated

Loss prevention remains a vital business initiative to help retailers secure their assets and ensure the safety of their employees and customers. Even so, the strain on today's retail operating budgets may limit loss prevention investment options.

That's why retailers need to take an innovative approach to loss prevention budgeting. As we look to the 2011 fiscal year, now is the time to consider partnerships with external resources, such as outsourcing; alternative payment models, such as equipment leasing; and budget collaboration with other organizational cost centers that derive value from loss prevention solutions and services. This approach can deliver efficiencies and cost savings, and it can expand the reach of the loss prevention dollar.