Analytics solutions that deliver a big financial impact
Not knowing where losses are occurring, and realizing you have no way of finding out, is frustrating for finance, loss prevention, and operations alike. While some losses may be expected, employee fraud, consumer return fraud, and shrink need to be controlled.
Even legitimate returns need to be monitored so that the store does not fall victim to abusive renting/wardrobing. Until the right solutions are in place, however, attempts to prevent loss can backfire and cause the chain to lose so many sales that they outweigh the loss they were intended to prevent. Stopgap procedures can make processes so convoluted that associates skip steps, reopening the door to fraud.
With your customer-facing solutions aligned to meet their needs, consumers feel welcome in your store whether they are purchasing or making a return. The processes are fast, and the day’s transaction stimulates future shopping visits.
Behind the scenes analytics help to prevent consumer and employee fraud as well as to help with scorecarding vendors and SKUs. Shrink is kept under control through effective monitoring and diligent investigations.
The Retail Equation/Sysrepublic use big data analytics to help you reduce total loss whether they result from consumer fraud, employee dishonesty, or procedural errors. The solutions can be implemented more quickly than similar solutions and begin delivering results immediately. Every day of delay costs drains revenue from your bottom line.
In addition, we offer a solution called Retail Rewards, that automatically creates and distributes intelligent incentives to consumers following a purchase or return. This solution increases basket size and lifts revenue.
Verify® identifies fraudulent and abusive consumer behavior. It is the most widely used return optimization tool in the industry, and is proven effective in significantly reducing return rates at major retailers by 8 percent and reducing shrink 13 percent.
The return process is optimized because the Verify analytical modeling accounts for numerous factors, including your return policies and your shoppers’ purchase and return behavior, which helps make the best decisions to balance customer service and fraud/abuse prevention. Verify typically achieves full ROI in just a few weeks.
Secure™ Store is the most advanced profit protection solution on the market today. Retailers worldwide use Secure Store to significantly mitigate losses related to fraud, theft, and operational/systemic breakdowns.
Developed by retail professionals for retail professionals, Secure Store provides immediate insight into your organization’s most critical data, allowing you to make informed decisions to reduce shrink, improve profitability and achieve rapid returns on investment (typically in only six months). Secure is so easy to use and delivers such outstanding results year after year that it has a 100 percent retention rate.
Retailers using Retail Rewards® see an increase of about 1 percent in sales. The solution lifts improves store performance by increasing conversions from the existing foot traffic. These are people already in your stores; they are best positioned to buy today.
Retail Rewards stimulates additional purchases from this group by issuing an intelligent, personalized incentive at the end of applicable return or purchase transactions. These incentives are time-sensitive, encouraging the consumer to purchase complementary products within hours or a couple of days. Furthermore, you can enlist brand manufacturers to underwrite the incentives.
In today’s enterprise IT environments many would think that integration is a problem of the past; but is that true? The reality is that there are still many aspects around integration that present significant challenges.
RTI (Real-Time Integration) significantly cuts the delivery time and complexity of integration solutions. It can do this because of its powerful approach to solving integration problems. RTI comes complete with all the tools your Information Services department needs to integrate multiple systems and provide the workflow process that mediates their interactions.
The Retail Equation/Sysrepublic solutions deliver immediate and measurable results. We use data analytics not available through any other source (including your in-house analysts). We have a team of PhD and MS degreed statisticians, a statistical criminologist, and a Certified Fraud Examiner on staff.
They are dedicated to monitoring the billions of transactions we receive to from retailers around the world to create models to further the efforts of your Loss Prevention, Operations, and Marketing departments.
The solutions are delivered in a SaaS environment and are easy to implement, so the results do not need to be delayed by a busy IT schedule. The solutions also do not create hurdles for store operations; in fact, they support smoother, more profitable processes.
One of the UK’s largest chains needed to tackle employee-related fraud, particularly at the point-of-sale. The retailer turned to us for help.
Returns in auto parts average 21%! Learn how this retailer implemented partnered with us to achieve outstanding reductions in returns and shrink.
The NRF Retail Returns Survey reveals the financial impact of return fraud and abuse on retailers, consumers, and taxes.