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Quickly Discover Theft and Errors with Loss Prevention Analytics by Petrosoft

As the central hub of retail sales, POS systems are fertile grounds for errors and a prime target for theft. As the volume of sales increases, so do the risks. 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 this solution, retailers gain access to accurate and timely information that has been historically difficult or impossible to obtain. It provides this information by first automatically combining different sources of information, such as transactional and video data. It then analyzes the combined information, sets rules, and produces documentation and reports for prevention, early detection, investigation, and prosecution. This solution discourages theft with verifiable proof, identifies employee training issues, and quickly helps to verify transactions, risk events, and employee claims. It provides new dimensions of knowledge, control, and validation.

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.

Find out more by contacting a Petrosoft sales representative.

Loss Prevention Analytics is an amazingly helpful application to learn much more about your store operations than you probably want, as it will show you all critical transactions where owners usually lose money.” Iryna Maskaliova, GM of 24 C-Store operations

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 for improving 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.

Loss Prevention Analytics by Petrosoft

Quickly Discover Theft and Errors with Loss Prevention Analytics by Petrosoft