5 Reasons Your Business Needs a Lottery Inventory Management Software

Everyone wants to pocket a lottery jackpot and live a luxurious life. This is why the lottery business is rapidly expanding. The expanding market can generate profits for businesses but securing this profit and minimizing losses can be a challenge due to the prevalence of theft. Moreover, with growth, managing inventories manually for lottery tickets has also become a complex process. 

Keeping track manually is a high-risk venture and minimizing losses, ensuring security, and streamlining operations are key to efficiency. This is why you need lottery inventory management software like LottoShield.

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What Is Lottery Inventory Management Software?

Lottery inventory management software is the digital equivalent of manual inventory management. It replaces the need for monitoring and organizing inventories manually by automating different processes, such as checking for any possible theft, keeping track of the stock, sending daily email alerts with daily reports, and providing crucial analysis.

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5 Reasons Your Business Needs a Lottery Inventory Management Software

There are dozens of benefits of using a lottery inventory management software. LottoShield is a leading company in this regard. Below are the 5 main reasons for your business to use LottoShield: 

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       1. Save Your Business From Theft Related Losses

Employee Theft : Fundamental source of losses: According to wcti12, Greenville Speedway employee arrested for stealing lottery tickets. Dozens of such stories surface every week. This is why this kind of common theft has become a main issue for the lottery business. Using LottoShield protects your business from such losses.

It provides protection from employee theft: Tracking and reconciling inventory against sales on a daily basis is one essential step to prevent employee theft. But performing this tedious task consumes a lot of time and energy of the staff. LottoShield provides a big help in this regard as it brings automation to this process which reduces the possibility of human error whether it is intentional or unintentional. Similarly sales and payouts should be matched daily from the lottery terminal against the point of sale. LottoShield also automates this process and saves time as well as bulk of the human effort.

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2. Save Time and Minimize Employee Error

Saving time: Lottery inventory management software reduces time for the lottery reconciliation paperwork and enables employees to utilize their time for other job related tasks. It makes it possible to prepare an inventory report in seconds with the use of handheld scanners or mobile apps.

Reduce employee errors: Preparing an inventory manually is a complex task and there is always a chance of human error. Lottery inventory management software reduces these errors and protects the business from huge losses.

“I recommend LottoShield to everyone. We've seen a tremendous reduction in shortages since using LottoShield, and my stores don't have to do nearly the work they used to. I recommend LottoShield to everyone I know who's in the lottery business." David Tooley, Tooley Oil Company

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3. Seamlessly Import State Lottery Invoices 

Importing state lottery invoices is also a complex process. Our lottery inventory management software automates this process by integrating with the store’s accounting system. This automation available for enterprise customers ensures that there are no more discrepancies in the system.

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4. Automatically Adds New Games

Adding new games to the pricebook is a very cumbersome task, again demanding a lot of human effort and is also prone to errors. LottoShield provides automation to the mechanism of adding new games to the pricebook. It is such an efficient system that it adds these games even before their arrival at the store.

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5. Get Efficient Management of the Vending Machines 

Retailers think they are protected from internal theft by having a vending machine, but this is a misconception. Vending machine theft happens and it’s often times large amounts. Counting the stock in the vending machine is another time consuming task. An employee has to count the stock while starting his/her shift and count it again as his/her shift ends. This is an extra layer of effort that can be eliminated by using LottoShield inventory management system. You just have to take a photo of the vending machine report and upload it to the system. LottoShield’s efficient system will reconcile the numbers with accuracy. 

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About LottoShield

LottoShield is trusted by many retailers including Rotten Robbie, Duck Thru Food Stores, Chestnut Market, and many more. Need to protect your business from employee theft, or losses? We’re here! Keep everything monitored and tracked. Invest in securing profits and skyrocket your business. 

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FAQs

How to Prevent Lottery Theft?

Preventing lottery theft involves a robust vigilance system. An efficient software coupled with:

• Secure POS system
• Efficient inventory
• Conducting timely audits
• Physical security like having a security camera

Is Lottery Inventory Management Software the Same as POS?

Not necessarily. Some lottery inventory management software may also include POS functionality, allowing it to keep track of both sale transactions and inventory tracking. However, others are standalone software that can be integrated into the existing POS system to streamline operations. 

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What Type of Software Is Lottery Inventory Management Software?

It is a type of automated system designed to keep a log of all lottery tickets that are being sold, and in stock. It provides a crucial analysis of all events related to lottery inventory management. It streamlines all operations to minimize the risk of theft with a maximum profit. 

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Sources

1. Greenville Speedway employee arrested for stealing lottery tickets

https://wcti12.com/news/local/greenville-speedway-employee-arrested-for-stealing-lottery-tickets

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