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:
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. Simultaneously, potential process failures and training opportunities can be identified and addressed.
Each day millions of transactions go through an organisation’s cash registers. Hiding in that data is 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 POS procedure and find the true fraud.
DetectR is tailored for the retail industry’s evident fraud detection requirement.
NetMap Analytics has for many years has been involved in major data analysis projects with many government and private organisations seeking resolutions in very diverse fields of problems, ranging from drug cartels, money launders, mass murders, insider trading and tax evasion, the list goes on. The underlying requirement for most clients is not only the full discovery of the extent of these crimes whilst utilising massive data sources, but to gain an understanding of that crime and develop methods to monitor the potential of these criminal events re-occurring.
NetMap Analytics is extremely qualified to be responsible for the discovery, understanding and on-going monitoring of your point of sale (POS) data analysis. The DetectR software gives the Loss Prevention Team the highest level of assistance they need to counteract the ever-increasing threat to profit caused by retail fraud. These losses can be massive, incurred with many small incremental amounts over a long period. A sales assistant with the correct knowledge can generate a handsome second income without fear of being caught. Installing a CCTV camera above the cash register or patiently waiting for a tip-off will just not do the job anymore.
DetectR is the single view dashboard connecting 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.
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