PAR Technology & Envysion Join Forces To Reshape Loss Prevention Methods
May 31 2018 - 4:30PM
Business Wire
Industry pioneers team up to provide integrated video and
point-of-sale solutions to revolutionize loss prevention for the
restaurant industry
ParTech, Inc. (PAR), a leading global provider of point of sale
(POS) and workforce efficiency solutions to the restaurant and
retail industries, announced today a new partnership with Envysion
to set a new standard for loss prevention strategies in the
restaurant business.
ParTech, Inc. is a wholly owned subsidiary of PAR Technology
Corporation (NYSE: PAR).
Launched in 2006, Envysion’s award-winning video solution
provides business operators instant insight, using video
surveillance as a strategic tool for every aspect of a restaurant
business. When combined with POS and other data gathered by PAR’s
systems, the Envysion and PAR integration makes it easy for
restaurant owners and operators to review in-store operations any
time, from any location, and to enable quicker analysis and
resolution.
For nearly 40 years, PAR has offered some of the industry's most
advanced and popular point of sale systems, including cloud-based
POS solutions that help uncover stolen tips, credit card fraud,
inventory shrinkage, and more. Envysion’s Managed Video Solution
brings real-time visibility to POS transactions to reduce loss from
employee theft or fraud, and even poor operational standards that
result in food waste and other profit-killing mistakes.
“The best loss prevention programs in restaurants today require
a close relationship between data and video. Using video to verify
exceptions, transactions, and other incidents brings new clarity
and decisiveness to a business operator,” says Kevin Milner,
Director of Audit Programs at Envysion. “The integration of
Envysion’s video solution to PAR's POS system helps our mutual
clients actively stop theft all from within the workflow they are
used to.”
“We are excited to add Envysion to our large ecosystem of
partners,” said Paul Rubin, Chief Strategy Officer, ParTech, Inc.
“The Envysion network acts as “the eyes behind” all business
data—including POS, business intelligence, accounting, operations,
environmental, and security—empowering restaurants and food
distributors to verify their data and make sound decisions within
the invaluable context of video, all while saving time and money.
PAR’s customers will greatly benefit from the added protection and
seamless integration into existing workflows that the Envysion
solution provides.”
Together, the PAR and Envysion forward-thinking approach to
cloud-based data and integration of video with POS is
revolutionizing loss prevention, where employee theft in the
restaurant industry is estimated to cost between $3-$6 billion.
ABOUT ENVYSION
Envysion® is a leading provider of managed video and loss
prevention solutions that enable restaurant and retail operators
with instant and actionable insights for increasing profitability
through broad utilization of powerful video-driven business
intelligence. Envysion® has transformed video surveillance into a
strategic management tool that provides instant and unfiltered
business insights to users across operations, loss prevention,
marketing and human resources. Envysion’s award winning platform
quickly scales to 1,000s of locations and 10,000s of users without
straining the IT department or network. http://www.envysion.com
ABOUT PAR TECHNOLOGY CORPORATION
PAR Technology Corporation's stock is traded on the New York
Stock Exchange under the symbol PAR. PAR’s Hospitality segment has
been a leading provider of restaurant and retail technology for
nearly 40 years. PAR offers technology solutions for the full
spectrum of restaurant operations, from large chain and independent
table service restaurants to international quick service chains.
Products from PAR also can be found in retailers, cinemas, cruise
lines, stadiums and food service companies. PAR’s Government
Business is a leader in providing computer-based system design,
engineering and technical services to the Department of Defense and
various federal agencies. For more information, visit
https://www.partech.com or connect with PAR on Facebook and
Twitter.
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version on businesswire.com: https://www.businesswire.com/news/home/20180531006280/en/
ParTech, Inc.Christopher R. Byrnes, 315-738-0600 ext.
6226cbyrnes@partech.com
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