Cary, NC -- (SBWIRE) -- 03/13/2012 -- BtoB Solutions, a provider of Internet Hosted Application and Cloud based systems now offers a solution to help the businesses reduce the menace of employee theft. They offer internet-based applications in the form of requisition, purchasing solution or accounts payable solution that will help the employers to track the issues like employee theft. These applications can provide control to the businesses along with compliance and visibility.
It is a fact that almost 40% of small to mid size businesses fail because of employee theft. The solution offered by BtoB Solutions can automate the requisitions to payables and it will protect the businesses by gaining control.
According to the reports published by Small Business Administration’s Office of Advocacy, more than half of the private sector employees are employed by the small business. These businesses are also responsible for paying 44% of the entire private payroll of the United States and generated a huge percentage of jobs over the last fifteen years. Therefore, employee theft has become a matter of concern for these organizations. It is high time that these businesses take some precautionary steps to prevent such theft possibilities and sustain for long terms.
As per the data published by the U.S. Chamber of Commerce, 75% of all employees at least steal once in their career. The alarming aspect is that half of these employees repeat their stealing habit, which is not a healthy sign for the businesses. The U.S. Chamber of Commerce also adds that the reason of failure of one out of every three businesses is the direct impact of theft by the employees.
University of Florida conducted a National Retail Security Survey in 1998. The Loss Prevention executives responded to the survey and the fact came out of it disclosed that yearly shrinkage losses of 42.7% are because of employee theft. American business is suffering big time because of the employee theft. The U.S. Department of Commerce says that more than $50 billion is lost because of this every year.
The impact of recent recession has increased the growth of the small business, but considering the statistics, almost half of these companies may not sustain beyond five years. That is why the small businesses should take proper measures to control employee theft and BtoB Solution’s cloud based requisition to payables can be a good choice.
The company can provide support to the businesses that are looking for cloud based technologies in the areas of purchasing solutions, accounts payable solution, requisition to payables, telecom, sales, marketing, etc. These solutions can ensure complete control and smooth performance of the businesses.
The businesses can save thousands of dollars by using the programs of BtoB Solutions. Dan Miller, the president of the organization says, “Compliance, control and visibility are three most important aspects to prevent employee theft. However, there is no need of hiring expensive IT staff or costly software. Our cloud based solutions are affordable and effective.