Industry pioneers team up to provide integrated video and point-of-sale solutions to revolutionize loss prevention for the restaurant industry
New Hartford, NY- May 31, 2018 – 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. 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.Paul RubinChief Strategy Officer, ParTech, Inc.
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.
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. https://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.