Torex™ BA Loss Prevention
Stocktaking discrepancies cost the trade 4.500 million Euros annually.
Around one third of these losses are attributable to staff and a large proportion involve fraudulent activity at the Point of Sale. Loss Prevention solutions expose irregularities at the till and support auditors and investigators in the fight against theft and fraud. An intuitive user interface quickly draws an investigators attention to problem areas and supports a 'rapid response' to shrinkage issues.
Torex BA Loss Prevention analyses till transactions that are open to fraudulent activity. These include sales, returns, refunds, voids, tendering, cash management and the manual keying of product codes, prices and discounts. Loss Prevention also covers credit and debit card transactions allowing investigators to identify and examine potential card fraud.
The Loss Prevention module uses interactive tools to analyse transaction data. Correspondence analysis and Employee Point Scoring techniques ensure that deviations are quickly identified, even when large volumes of data are involved.
Investigators are able to drill-down to item level and pinpoint losses that arise from fraud, failure to follow procedures and those losses that are simply due to inadequate staff training.
The Loss Prevention module increases audit productivity success rates by placing investigators in a position to rapidly identify any irregularities and to act to close loopholes quickly.
Product Benefits
- Presents information targeted specifically on activities that merit further scrutiny
- Allows a complete analysis of any aspect of the transaction and also gives access to the previous or next transactions by sequence or cashier
- Provides an immediate and complete view of any chain of transaction events
- Can identify and examine potential Credit and Debit card fraud
- Supports 'Case Management'. Long term targeted investigation data can be stored, retrieved, updated and saved as proof is gathered
- Utilises an XML interface and the ARTS data model so supporting data import from a wide range of third party till solutions
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