The data at your finger tips to fight retail fraud.
Industry trends indicate increased competition in the retail sector, resulting in reduced margins for owners. Staggeringly, retail shrinkage accounts for an average of 1.4% of sales in retail (Retail Fraud Survey).
Retail Fraud Detection Survey key findings indicate three main areas of retail risk:
Staff dishonesty causing retail shrinkage can no longer be tolerated as a cost of doing business. Now, fraud detection and retail loss prevention have a critical make or break effect on the bottom line. DetectR provides the business intelligence from point of sale (POS) data to improve profitability by exposing cash register fraud. At the same time potential process failures and training opportunities can be identified and addressed as part of retail risk management.
Each day millions of transactions go through an organisation’s cash registers. Hiding in that data is point of sale fraud. DetectR is a robust data management platform (DMP) housing all relevant data for Loss Prevention Officers to easily discover potential retail loss within a few clicks.
Intuitive design and visualisation technology allow the Loss Prevention Team to isolate the most costly reasons for shrinkage, identify gaps in training or the weaknesses in the point of sale (POS) procedure and expose the true fraud.
DetectR is tailored for the retail industry’s fraud detection problem and the need for risk management.
NetMap Analytics has been involved in major data analysis projects with many government and private organisations with diverse problems. These range range from drug cartels, money launders, mass murders, insider trading and tax evasion, the list goes on. The requirement for these clients is to understand what their extensive data sources are hiding, to uncover the full extent of the crimes, and to monitor and prevent these crimes from re-occurring.
The NetMap Analytics team has distilled this vast knowledge into the DetectR package, designed specifically for those in the retail risk management field. DetectR utilises visualisation capabilities and our expert knowledge to deliver results in retail loss prevention.
The NetMap Analytics expertise is in simplifying complex analysis, discovery of fraud and ongoing monitoring of point of sale (POS) data. The DetectR software gives the Loss Prevention Team the highest level of assistance to counteract the ever-increasing threat to profit caused by retail fraud. These losses can be massive, though usually incurred with many small incremental amounts over a long period. A sales assistant with the correct knowledge can generate many fraudulent transactions by understanding the loopholes in policy and procedure. Installing a CCTV camera, is effective in spotting shoplifters, but is totally ineffective in detecting point of sale fraud.
DetectR uses a dashboard to connect all point of purchase data sources, allowing Loss Prevention Teams to combine their intuition and retail industry knowledge with data visualisation to find retail fraud. DetectR helps investigators find transactions of interest without burden on IT departments or loss prevention budgets.
You may be interested in other NetMap Analytics areas of expertise in corporate and government, crime investigations, insurance fraud and marketing segmentation.
Give Your Loss Prevention Team the Power to Jump on Fraud - Quickly.REQUEST A DEMO