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SOURCE eConnect, Inc.; Cedar Fair Entertainment Company
The Cedar Fair Entertainment Company has selected eConnect, Inc. for its Point of Sale loss prevention system and remote investigative services.
LAS VEGAS, Jan. 6, 2014 /PRNewswire/ -- Cedar Fair Entertainment Company (NYSE: FUN), a leader in regional amusement parks, water parks and active entertainment, and eConnect, Inc., the leader in POS loss prevention software, have entered into an agreement to add a high-tech cash transaction monitoring system to their POS registers across each of their 11 parks. eConnect's POS Connect™ module proactively identifies potential cash theft transactions by park employees operating POS cash registers. The first phase of the roll-out included installations at Knott's Berry Farm, Cedar Point, Kings Dominion & Dorney Park. eConnect's cloud-based system harvested live transactions from these parks' POS systems and immediately started to identify transactions indicative of cash theft. Park-level management was able to significantly curtail this negative behavior and believes this had a favorable impact on food & beverage and merchandise revenues. eConnect also provided the Cedar Fair parks with its LiveAnalyst™ remote investigative services. This service combines a team of expert POS & Loss Prevention analysts who collaborated with the loss prevention teams at each park to identify suspicious cash register transactions.
"We partnered with eConnect on this loss prevention effort due to their ability to interface with many of our business systems, giving us the ability to leverage one platform for our loss prevention and revenue enhancement goals," commented Mike Hasman- Corporate Vice President of Compliance at Cedar Fair. "The investment in eConnect's software let us leverage our investment in our POS system and we saw a reduction in suspicious cash register transactions which translated directly to increased revenue. We are pleased with the POS Connect system performance and have enjoyed working with the professional team at eConnect; it becomes a smart business decision to deploy the loss prevention software across the entire enterprise in 2014."
"Our company is proud to be a Cedar Fair partner; they are a great group of people running some of the most popular amusement parks in the United States and Canada. We are committed to providing excellent solutions and services to them," mentioned Henry Valentino- President & CEO at eConnect. "Clients like Cedar Fair are leading the charge in the data analytics arena and it is paying off for them. Platforms like ours take the really obscure business problems and make them visible so that decisions can be made to resolve them."
About Cedar Fair:
Cedar Fair is a publicly traded partnership headquartered in Sandusky, Ohio, and one of the largest regional amusement-resort operators in the world. The Company owns and operates 11 amusement parks, three outdoor water parks, one indoor water park and five hotels. Its parks are located in Ohio, California, North Carolina, South Carolina, Virginia, Pennsylvania, Minnesota, Missouri, Michigan, and Toronto, Ontario. Cedar Fair also operates the Gilroy Gardens Family Theme Park in California under a management contract. Cedar Fair's flagship park, Cedar Point, has been consistently voted the "Best Amusement Park in the World" in a prestigious annual poll conducted by Amusement Today newspaper.
eConnect, Inc. is a software company in the security industry whose products combine financial transactional analysis with visual verification. This is accomplished by synchronizing transactional data from point-of-sale (POS) & business systems to digital video surveillance, producing the best fraud deterrence tool in the industry. The software tool also increases the effectiveness of employee productivity, allowing managers to easily identify common employee errors. The software provides a dramatic return on investment usually within 3 to 6 months.
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