K3 Retail, provider of retail solutions based on Microsoft technology, is launching a Loss Prevention (LP) application to reduce loss in store. The K3 Retail LP is a cost effective suite of analysis and evidence gathering tools that supports audit teams as they focus their efforts on store and employee theft. If used creatively as part of the store manager mission, it can help create a LP culture across the whole organisation which in turn not only drives down employee theft, but also makes store staff more aware of the other sources of shrinkage including shoplifting, CNP fraud, process-driven loss and vendor fraud. John Little, Sales Director at K3 Retail, said, The K3 LP solution works on two levels. Firstly, it helps identify pre-meditated theft which allows retailers to collect the evidence needed to prepare cases and prosecute criminals. Secondly it permits retailers to spot behaviour which could develop into more serious fraud.
Little continued, This LP application can be integrated into a retailers in-store CCTV to provide video evidence of suspect transactions, rather than wade through hours and hours of video footage. The transaction timestamp is used to allow LP managers to hyperlink straight to the individual transaction so that they can review the receipt alongside video evidence of the event.
The K3 solution tests each POS transaction against a threat template that determines whether the transaction properties fall outside a pre-defined trigger range and should be flagged. This could be something as simple as a manual discount, or opening of the cash drawer without a sale.
Individual triggers are aggregated and compared against company, store and staff averages across time to identify incidents for which need further investigation. The easy to use analysis suite allows managers to drill down to a store and compare the performance of employees across the range of threat templates.
About K3 Retail
K3 deliver multi channel solutions that let retailers create joined up shopping experiences for their customers whether they choose to buy on-line, direct or in-store.
18 years experience delivering award winning solutions, to more than 100 internationally recognised retail brands, has helped our experienced team of retail consultants develop the most complete range of multi channel retail solutions available to Microsoft Dynamics AX or NAV users. As a Microsoft Gold Certified Partner and member of Microsofts Partner Advisory Council for Retail, we offer a clearly defined roadmap and proven products backed up by Microsofts $2billion investment in the Dynamics platform.
Our ability to translate thought leadership and multi channel experience into innovation and effective retail solutions has benefited customers including: Agent Provocateur, American Golf, Beales Department Stores, Booths Supermarkets, Carpetright, Clinton Cards, Dobbies Garden Centres, Dreams, Gamestation, GameStop, Give, Jigsaw, Kiddicare, Rymans, Smyths Toys, SpaceNK and The White Company.
www.theretailpeople.com
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