Financial fraud is a hugely common problem within the hospitality industry. Many restaurants, pubs and hotels actively seek to implement fraud prevention procedures. Their aim? To reduce their susceptibility to staff hiding transactions, altering stock levels or adjusting figures to cover up a wide range of misdemeanours.
Our own data reports that up to 90% of the losses a hospitality business records are a direct result of employee fraud. Active investment in fraud prevention will ensure falling GPs are no longer an inevitable risk. Our financial fraud prevention consultants have seen it all. Their wide ranging knowledge across the hospitality sector allows them to identify possible loopholes in your operational and financial systems. Fraud prevention is an incredibly powerful way of ensuring internal controls pre-empt any possibility of serious financial damage to your business.
Fraud prevention is not merely proactive however. There are occasions when fraud prevention is of a more reactive nature. This applies in the case of fraud having been committed previously yet for it to have been undetected. In these situations our fraud prevention experts are capable of carrying out secret Observational Audits to carry out the ultimate fraud prevention exercise: detecting and deterring employee fraud.
“Thanks to Venners, we’re confident that customers entering a Creams store, anywhere in the UK, will find the same great environment, same amazing desserts, in the same spec, time after time. For a franchised business, Venners compliance audits are exactly what we needed to keep control of our brand – they do an excellent job!”
“I approached Venners to look after our pub’s food safety compliance. They immediately helped me reduce H&S paperwork with their cloud-based compliance tech and the quality of their feedback gave me more confidence in the general safety of my pubs. Their audits are thorough and the management reports I receive as a result are informative, rigorous and of a high standard. I receive a more personal and attentive service from Venners which is fairly unique, with regular audits, telephone support and face to face meetings, helping us all stay on top of our due diligence. I would highly recommend Venners compliance services to anyone who has pubs and bars.”
“Venners provide a reliable and reputable inventory and valuation service, that is second to none. They get it right first time, every time.”
“I have always found Venners to be very responsive in the face of tight deadlines, pragmatic in approach and highly knowledgeable in terms of their advice. Overall the firm represents good value for money.”
“Over the last 18 months Venners have assisted us in integrating our compliance functions from an internal resource to a new external process. This new system is proving to be cost effective and robust. We are pleased with the input from Venners and recommend them as professional and impartial service providers.”
“From day one, Venners Consulting gave us an immediate return on investment of over £14K per annum. Moreover, they have helped us streamline our food operation and processes in the UK from which we will benefit for a long time to come.”
“We definitely benefitted from Venners food profit consultation. They brought operational focus and attention that delivered significant quick, and longer term, wins. However sophisticated your systems and theoretical costing’s seem to be, their analysis of what is actually happening in practice and how to improve it, is invaluable.
“Their Menu Cost audit service was paramount in helping us accurately trial and cost our new breakfast menu and fine tune our operations. Thanks to Venners, our guests and our business win; we’ve improved the quality of our breakfast offering whilst maintaining our profit margin”
“Their approach, reporting, action plans and feedback are well worth the investment. They immediately helped reduce our cost of doing business with out impacting our quality or guest experience. As well as many quick wins, their consultancy audit enables continuous, sustainable improvement and benchmarking.”
“…key to protecting our profit and reputation and to minimising future operational risk.”
“We have used Venners for inventory and valuation for over 26 years. I highly recommend them.”
“Sound financial controls are an essential part of the running of any business. High quality stock audits help directors to meet their statutory responsibilities and can help improve operating results.”
