Loss Prevention

Recent independent research attributes 75% of retail shrinkage to employee and customer theft. In response to this, Sanderson, together with our specialist partners, has developed a loss prevention solution which fully integrates with the Retail-J application. We believe this to be the first ‘Software as a Service’ (SAAS) solution for retail loss prevention available in the UK.

Protecting your revenue

Our Loss Prevention system is designed to alert you to potential areas of vulnerability, enabling you to action changes and limit the possibility for shrinkage within your business. The solution monitors transactional activity on the EPoS in real-time, covering areas identified as key indicators for potential fraud, such as:

• No Sales—tracks ‘No Sale’ activity by an individual cashier and compares this with the estate average and with the individual’s previous normal behaviour
• Voids—can be monitored by value and by volume
• Refunds—can be monitored by value and by volume and a number of different refund characteristics are taken into account, for example, cash refunding without receipt
• Credit Card—the service tracks credit card activity and alerts on excessive refunding or occasions where the refund against a card exceeds the amount spent using the card

Thresholds can be set for such activity, and if a colleague or branch exceeds the set threshold an automated real-time alert will be triggered to a nominated manager to assess the situation. Each alert provides a full case history for the colleague or store, allowing the nominated manager to investigate for potential fraudulent activity or to highlight a training requirement for the store or colleague.

Knowing your staff

Our loss prevention solution automatically profiles each individual member of staff so that subtle changes in employee behaviour can be detected, checked and action taken immediately. Such profiling detects fraud earlier, and brings a dramatic improvement in the detection rate compared with traditional approaches. This solution will help you uphold your duty of care to employees whilst also making a significant impact on the bottom line. 

Summary & benefits of loss prevention from Sanderson:

• A cost effective managed service, providing swift return on investment
• Can be run as a hosted or on-site application
• Checks every transaction
• Profiles every cashier
• Automatic - no analyst, no reporting required
• Provides a basket of loss prevention metrics

For further help and guidance on retail loss prevention, call
0333 123 1400 or email info@sanderson.com