Loss Prevention
When it comes to controlling retail shrink, protection means detection. This applies to both direct merchandise theft and register-based fraud, each of which typically accounts for roughly half of total employee theft. It’s a serious challenge: Estimates suggest that close to half of all dollars lost to shrink are attributable to employees, the largest overall portion when compared with consumers, vendors, or errors.
Basic surveillance is not enough: Any serious effort to combat losses must also involve comprehensive POS data analysis to identify unauthorized discounts, “sweet hearting,” invalid returns, and cash shortages. However, traditional methods cannot keep pace. It could take weeks to manually audit the registers of even one store, and calculating permutations of transactional activity to highlight patterns and trends would be almost impossible.
Epicor Retail Loss Prevention streamlines and accelerates the entire process. This exception-based reporting tool analyzes a central database of store-level transactions provided by Epicor Retail Audit and Operations Management to automatically detect patterns of fraudulent activity. The module is designed to enable faster fraud identification, better case management, improved productivity, greater staff awareness, and higher profitability across the retail chain.
Epicor Retail Loss Prevention equips you to:
- View exceptions that are automatically collected and organized hierarchically according to three levels of severity
- Choose from more than 75 system-defined KPIs applied to different types of transaction
- Build your cases of internal theft or shoplifting and maintain all case information in one locatio
- Use multiple investigation tools including graphs, scoring schemes, reports, ad hoc queries, and a transaction locato
- Choose from many predefined reports or create your own querie
- Access commonly used functions over the Internet
- Shorten the intervals between detection, investigation, and resolution
- Deter employee who may be tempted to supplement their income at your expense
- Identify the need for additional employee training
Together, this proven functionality helps you reduce shrink and boost profitability while keeping your store an employee-friendly workplace. Loss Prevention’s flexible, exception-based reporting features allow your analysts to identify more cases, prioritize the worst cases, and reduce the time required to fully develop cases. As a result, retailers using Epicor Retail Loss Prevention typically report very fast and substantial ROI.
For additional information, contact us at retailinfo@epicor.com