Quickly Discover Theft and Errors with Loss Prevention Analytics by Petrosoft
As the central hub of retail sales, POS systems are fertile ground for errors and a prime target for theft. Prevention, early detection, resolution, and correction are, therefore, vital to reducing these risks but this requires new dimensions of knowledge. Petrosoft’s Loss Prevention Analytics solution provides the knowledge needed and verifiable proof. The solution enhances both POS and loss prevention technology.
Loss Prevention Analytics is revolutionizing the way retailers manage their operations by providing a clear view of a retailer’s operations and verifiable proof of errors and theft. With Loss Prevention Analytics, retailers gain access to accurate and timely information that has been historically difficult or impossible to obtain.
The solution includes a cloud-based interface enabling retailers, from any location, to quickly drill down into reports and click-through to view the associated video footage from any internet-connected device. Retailers can filter by date, location, employee, item, event, and type of transaction.
Petrosoft’s Loss Prevention Analytics is providing new dimensions of knowledge, control, and validation. An invaluable addition to any system. Find out more by contacting a Petrosoft sales representative. Special pre-order pricing ends on January 9, 2017.
3 Ways to Use Loss Prevention Analytics
Age verification compliance. Tagging of age-restricted sales, capturing video footage and then passing this data through the Loss Prevention Analytics solution can provide the knowledge and proof needed to show good faith and ensure compliance. Managers, internal auditors, and external auditors can quickly filter to review the transactions. The solution helps to ensure that employees adhere to laws as well as internal policies with verifiable proof.
Deterring theft. Tagging high-risk events, such as no sales, refunds, voids, and cancels, can help retailers to discover thefts. But by combining this data with its video footage, and then passing it through the Loss Prevention Analytics solution, operations personnel can also prevent theft. The solution provides verifiable proof of what occurred during these high-risk events. The solution can help not only for litigation but also to improve training and internal control procedures, including the adherence to safe drop thresholds.
Improving training and internal controls. Whether it is age compliance or the risk of theft, the Loss Prevention Analytics solution can help human resources and internal auditors by providing the operational tools needed to improve employee performance and internal controls. It provides managers with new knowledge. It provides verifiable proof of how policies, procedures, and equipment are being used to either increase or hinder profits.