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When it comes to controlling retail shrink, detection means protection. 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.
These days, basic surveillance simply isn’t enough to guarantee that your retail loss prevention efforts will bear fruit. Any serious attempt to combat losses must also involve comprehensive POS systems data analysis and exception based reporting to identify unauthorized discounts, "sweet hearting," invalid returns, and cash shortages. However, traditional loss prevention methods simply cannot keep pace. By relying on manual exception based reporting procedures and point-of-sale analysis, it could take weeks to audit the registers of even a single store. And calculating permutations of transactional activity to highlight patterns and trends would be almost impossible.
Advanced Retail Security Software
Epicor®'s Retail Loss Prevention software streamlines and accelerates the entire process. This exception-based retail security software 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.
Together, this proven functionality helps you reduce shrink and boost profitability while keeping your store an employee-friendly workplace. Epicor Retail 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.
Have questions about our Loss Prevention Solution for Retail? Please call us at +1-800-992-9160 or send us an e-mail.
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