What was 1.7% of your gross sales last year? You can expect that's what was stolen from your business and at least 50% was by YOUR staff. Our software can significantly reduce this.

EXCEPTION BASED LOSS PREVENTION RESOLVES CASES FASTER

63% of shrink from an internal source

With average shrink at 1.7% or retail cost (University of Florida research - National Retail Security Survey) 63% was found to be internal with employee theft accounting for 48%. The other internal source of loss; administrative error accounts for 15%. Together they account for almost double the external losses; being shoplifting 32% and vendor fraud at 5%.

Employee incidents Much More Costly

Not surprisingly, a retailers search for loss prevention solutions includes an emphasis on external loss prevention and compliance. The average value of shoplifted goods is $207.18 while the average employee related incident is $1431.02 according to the University of Florida study. Furthermore the number of incidents that a single dishonest employee can incur can total tens of thousands of dollars.

More with less

Like all parts of business senior loss prevention management is being asked to do more with less. Technology solutions provide the opportunity to increase workload, and therefore results, without increasing the number of investigators per store or managers in Head Office. By a wide margin the "hottest" item in POS exception reporting.

Shrink Reduction

The main benefit if integrating an exception based loss prevention reporting system is a reduction in shrink, which in turn means higher profits. Since employee based losses are so pervasive, it is reasonable to expect all stores to benefit.

Faster Identification and Decreased response times

A 2002 survey of current users of the leading loss prevention software, XBR Loss Prevention, conducted by Digibahn an online market research company showed that one of the most noticeable benefits was speed, with 35% of cases being identified in less than two weeks. Hand in hand with that was faster resolution. With employee incidents costing an average of $1431.02 timely detection and correction are essential. Most of the respondents in the Digibahn study reported that more than half of their investigations are assisted by data from the loss prevention program.

Increased workload efficiency

Using XBR one or two analysts can cover as many as 400-600 stores. They forward potential case information to investigators or store managers for follow-up. The loss prevention investigator can also use the software to speed up the process. Instead of decreasing the caseload per investigator, exception reporting increases it. It both detects more incidents and provides a means to handle them more efficiently.

Return on investment

A recent survey of XBR users showed that 76% achieved 100% ROI in the first twelve months with 100% achieving that within 2 years. Of the 76% that achieved 100% ROI in the first 12 months, 90% of them also achieved a further 100% ROI within the second 12 months.

The industries leading system

XBR Loss Prevention, part of the MICROS-Retail "Analytics" suite is the leader in exception based reporting applications with more global retail installations than any other. The average shrink reduction among XBR users is 19.6%.

XBR is written "open" allowing it to interface with any of the major POS systems and provide data to other Head Office systems. XBR also interfaces with digital CCTV and EAS systems further uplifting the power of this exception reporting tool. The application even has built in case management portfolios that allows investigators to maintain case notes and links without switching programs.

Summary: Faster Detection = Greater Savings

Shoplifters come and go, but sales staff are on site for hours at a time. With a robust system like XBR dishonest employees can be identified, tracked and prosecuted, and theft deterrent policies can be instituted.

Not only can deceitful staff be found out, but compliance problems can also be identified in a fraction of the time. For instance an employee who understands the employee policy can cause significant losses, as can those who miss steps in a verification process. Whether the problem is cause by training, miscommunication or carelessness it can be quickly identified and changes, thus reducing losses.

As an added benefit, the system creates a more stable, safe and productive work environment in which employees devote their time to sales rather than stealing, frequently improving overall store performance.

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