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When it comes to controlling retail shrink, protection means detection. This applies to both direct merchandise theft and register-based fraud, each of which typically accounts for roughly half of total employee theft. It’s a serious challenge: Estimates suggest that close to half of all dollars lost to shrink are attributable to employees, the largest overall portion when compared with consumers, vendors, or errors.
Basic surveillance is not enough: Any serious effort to combat losses must also involve comprehensive POS data analysis to identify unauthorized discounts, ‘sweet hearting,’ invalid returns, and cash shortages. However, traditional methods cannot keep pace. It could take weeks to manually audit the registers of even one store, and calculating permutations of transactional activity to highlight patterns and trends would be almost impossible.
Epicor Retail Loss Prevention streamlines and accelerates the entire process. This exception-based reporting tool analyzes a central database of store-level transactions provided by Epicor Retail Audit and Operations Management to automatically detect patterns of fraudulent activity. The module is designed to enable faster fraud identification, better case management, improved productivity, greater staff awareness, and higher profitability across the retail chain.
"Loss Prevention" is part of the Epicor Retail line of products, developed by Epicor Software.