DetectR is a recently developed cloud-based dashboard designed for retail loss prevention departments to monitor large volumes of data extracted from point of sale registers. It consolidates all data sources, allowing for rapid and easy access to the data required for investigations. The software system incorporates self-explanatory visual graphing and uses a unique concept called Transactions of Interest (TOI) as a starting point for many more complex investigations.
Also included in the DetectR software is the ability to “record” the pathway taken through the data during the successful discovery of a fraud. These Investigative Pathways can be stored, reused and therefore substantially reduce the time taken to uncover similar POS frauds occurring in other locations.
The overarching objective of the fraud detection software is not only to reduce retail fraud but to highlight and reduce some of the causes such as procedural breakdowns and training problems. Further, a reduction in transactions of interest occurs by virtue of a perceived watching and monitoring by management.
No more wasted time waiting for tip-offs, requesting trawls from the IT department, no more bottlenecks of data. Keep your fraud team one step ahead, productive and efficient to ultimately grow your organisation’s bottom line by reducing retail fraud and simultaneously improving procedures and training.
DetectR provides a one stop shop for all the data assets that enable you to discover Transactions of Interest (TOI). To begin with NetMap processes millions of transactions from all POS terminals in your retail outlets. Next the data is uploaded to a secure AWS cloud based server for processing. Dependent upon requirements this load can take place hourly, daily, monthly or as required. The data is stored for 1 year. The data is analysed and the result is a comprehensive set of dynamic graphical reports, available anywhere in the world there is adequate internet speed and given that you have the correct password. The reports are specifically designed to provide the Loss Prevention team the ability to use their industry knowledge and intuition to delve into the data to transaction level and find all transactions that have breached the company policy. Amongst them WILL be fraud.
TOI are effectively “exceptions” that breach the rules and procedures laid down by your company, for example a return without proof of purchase or an unusual volume of transactions on a staff discount card are both potential frauds. There are many of these and with over 30 years of working with retailers, we know which Transactions of Interest are likely to occur in your retail environment. In addition we work with your Loss Prevention team to identify additional TOI that maybe unique to your organisation. These TOI provide the Loss Prevention team with a great starting point for their fraud investigations, but it does not end there.
Using the power of TOI plus industry knowledge and intuition the analysts can now drill down into the data. To start we log in to a secure site with user and password detail. The investigator is confronted with a clear graphical depiction of all occurrences of the selected TOI’s. This data can be viewed in many ways, regional level, individual store level, right down to sales person, register, product identifications and even bar codes. Don’t spend months getting all the data in one place before a potentially fraudulent transaction has been investigated; jump on it quickly! DetectR all the POS data in one place ready to go.
A major feature of DetectR is its ability to recall the steps taken during an investigation and re-play them, this is called an Investigative Pathway. Imagine as a Loss Prevention officer you are on the trail of successfully tracking down a retail fraud involving several returns made to different tender types. Eg. purchase on a visa card and returned to a staff card. Your intuition points to this as being potentially a scam that could be happening in all stores. You hit the save tab, give it a name and you can now replay the exact same steps using a different starting point. Hours of work can be save using this simple technique.
So, there it is, you have access to one dashboard available to you worldwide with all the data you will ever need and tools to isolate common forms of retail frauds and work flows to prevent you having to repeat complex investigations. Empowering fast and meaningful decisions related to fraud investigation, DetectR does this hard work for you, so you can get on with what you do best – finding the data to back up your investigative intuition. This delivers a major improvement in discovery techniques and loss prevention productivity, combined with a reduction in overall fraud levels company wide.
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