Novemeber 2009 - Loss Prevention Solutions: Integrated Service Delivery

Point of sale (POS) shrink, loss incurred through cashier error, theft and fraudulent POS transactions, is having a hugely damaging impact on retailers profit margins according to a new Datamonitor report - Using Business Intelligence and CCTV to Reduce Shrink in Retail (Strategic Focus).

The Datamonitor report predicts global retail shrinkage will climb to almost £115 billion by the end of 2009. With global retail sales growth in the tough economic climate expected to be small or even non-existent, technology such as data mining used in conjunction with CCTV is one of the key solutions being tipped when it comes to retailers investing in technology to combat shrink and improve the bottom line. Moreover their dual-use beyond loss prevention means they can also be utilized for marketing and merchandising purposes.

Retailers have long focused their attention on customer merchandise theft. Efforts and big budgets have been spent on expensive closed circuit television (CCTV), digital recording, electronic security tagging, and alarms to prevent and monitor customer theft, says Christine Bardwell, retail technology analyst at Datamonitor and the reports author. But attentions are shifting. Over half of shrink can be attributed to internal loss, and general employee- and cashier-caused shrink, whether intentional or not, is a now a massive concern in most retail organizations.

The report identifies the three biggest causes of loss at POS as cash theft, fraud and process error and highlights the key technologies at the forefront of the fight against shrink at the POS.

Working with our Technology Partners, who provide a full spectrum of specialist skills - including video analytics and network video solutions for surveillance and remote monitoring applications - Ash can deliver end to end IP CCTV solutions tailored to your business needs and requirements. We are authorised integrators for some of the world's most successful manufacturers and have UK wide resource capabilities for any size rollout.

To find out how we can make technology work for you, contact ASH today...


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