Retail – Improving the bottom line without growing the overheads.
Did you know that, on average 1.7% of turnover is due to fraud? Here’s how that is broken down:
Over the years retail has become ever more competitive, the margins have reduced and the competition has increased exponentially. As a result, the more relaxed attitude of the past towards loss mitigation, due to staff dishonesty or shrinkage, is no longer tolerated as a cost of doing business, it now has a critical “make or break” effect on the bottom line.
NetMap Analytics has, for over two decades, developed software solutions to expose crime in all areas including policing, security agencies, audits, insurance fraud, tax evasion the list goes on.
In its latest offering, “DetectR” NetMap has focused this expertise specifically on the Retail industry’s ever-increasing fraud statistics.
The absolute objective is to provide an easy to use, state of the art system, that mitigates retail fraud without a massive burden on your IT department or the loss prevention budgets and at the same time uses the intuition and industry knowledge of the user.
No employer likes to assume that their staff are dishonest and NetMap’s experience indicates that many so called “frauds” are a direct result of inappropriate training, procedures and monitoring. DetectR focuses on all of these crucial underlining aspects of lost revenue.
Using DetectR we firstly develop a fraud prevention corrective circle.
Analyse all POS data to establish breaches of POS handling procedures called “high level exception reporting”.
Select the most devastating breaches for example by frequency or dollar value. Investigate the causes using DetectR’s unique “investigative pathway” technology and monitor those cases on an ongoing basis (hourly, weekly, monthly – or as required).
Isolate the individuals, groups or networks involved in the fraudulent activities.
The system provides the output required to counsel individuals, update procedures, training improvements or prosecution (evidence packs).
Create a Key performance indicators (KPI’s) base and evaluate the outcomes to provide targets and direction for further investigation. Monitor the volume of those specific breaches to establish the reduction of occurrences over a period of time.
The fraudster never sleeps and therefore as new “opportunities for fraud” arise they will be discovered and monitored by DetectR.
The DetectR retail loss prevention software is your finger on the pulse of fraud in your organisation. Less time messing with data, more time zooming in on true fraud for a more efficient and productive organisation. Our customers quickly see huge gains across their organisation:
Give Your Loss Prevention Team the Power to Jump on Fraud - Quickly.REQUEST A DEMO