WeDo Technologies launches RAID Retail to accelerate and automate profit protection, fraud detection and cost control

This article is brought to you by Retail Technology Review: WeDo Technologies launches RAID Retail to accelerate and automate profit protection, fraud detection and cost control.

WeDo Technologies, the Enterprise Business Assurance solutions provider, has launched its RAID Retail solution to enable retailers to proactively identify risks, alarm triggers and actions to reduce financial losses arriving from business process' inefficiencies and lack of control.

This latest software combines the most valued functions of many productivity platforms into one unique platform, making it far quicker and easier to audit, protect profits and preserve the bottom line. Designed with user empowerment at its core, RAID Retail links IT and business functions, enabling them to work seamlessly with one another across key areas such as data collection, business monitoring, visualization and alerts.

RAID Retail accelerates how retailers implement an automated profit protection strategy, cost control and fraud detection by monitoring store and inventory operations, costs and suppliers' transactions, while simultaneously enhancing the customer experience. The platform's new set of technologies, which were developed in direct response to user demand, leverage big data techniques to monitor and automatically identify exceptions and control breakdowns across key retail application systems helping retailers implement a successful business improvement programme.

The innovative solution focuses on five new areas to eliminate time-consuming, labor-intensive and mistake-prone manual processes, including:

• Store Profit Protection: enables retailers to define a set of audit features and business sensors, allowing managers to monitor their discount and loyalty programs, control effectiveness with returns and refunds activities and profile sales trends and cashier performance.
• Inventory Control: allows a complete and efficient inventory management visibility. The platform helps users to anticipate and mitigate out-of-stocks as soon as orders are placed or short deliveries occur, while monitoring over-stocks which result in undue cost and waste, particularly in seasonal and fresh products.
• Store Labor Assurance: assess productivity and service in store by accurately measuring schedules and aligning with sales performance, or by controlling and analyzing the attendance process that allows the user to understand the impact on resourcing. It also monitors the payroll health (budget, productivity, overtime and employees attrition ratios, etc.) for an updated performance evaluation.

Raid Retail audits 100 per cent of transactions by deploying strategic business monitoring controls, enabling retailers to reduce business process audit costs across several internal departments, while increasing overall quality. The platform also allows retailers to increase the coverage and frequency of audits, create tighter control over organizational objectives and take advantage of collaborative strategies and tools that support a modern, agile organisational and multidisciplinary team approach.

Other key features include:

• Enhanced data collection mechanisms:
• New Full Web Based Flow Editor for easier and faster configuration.
• Support for Hadoop data sources, including file processing at HDFS level.
• Zero Coding Configurations – state-of-the-art big data-enabled data ingestion and processing, making enhanced data discovery and business rule configuration possible with simple yet powerful visual tools that don't need advanced training or the support of an IT department.

• Visualization and collaboration areas for case resolution
• Adaptive Case Management with BPMN2.0 standard – enabling the translation of social collaboration and contextual analytics into a business environment through fully integrated cross-business processes.
• Intuitive user interface for greater effectiveness.
• Visually intuitive interface for a reinvented user experience – provides a modern and easy-to-use user interface that boosts productivity and minimizes user errors through a humanized approach.

These key features were developed with users directly being involved throughout the design and development process, to ensure that the solution addressed the complete user experience.

"We're delighted to be launching RAID Retail to help retailers address the urgent issues of margin control and fraud management," commented Rui Paiva, CEO, WeDo Technologies. "Designed to enable dynamic big data analysis, auditing and control processes, the solution is based on an explicit understanding of users, tasks and environments, and marks an exciting new opportunity for both the WeDo team and our customers."