|
|
Problem
Like most retail organizations this major upscale retailer experienced a high level of internal theft at the Point-of-Sale (POS). Although its existing workflow helped to eventually identify most offenders, the process was time-consuming, labor-intensive, and costly. It often took weeks to identify and assemble the evidence to document the fraud, during which time the fraud continued. The loss prevention process entailed countless hours searching through multiple video surveillance tapes and correlating activity on the tapes to transactions recorded at the POS system.
Solution
Managers recognized that they could use video analytics to simplify the workflow and speed the process. They decided to combine their existing exception reporting and live POS feeds and apply video analytics that would automatically flag suspicious behavior and correlate it with atypical transactions. POS exception reporting already was an integral part of this retailer’s loss prevention workflow.
The key to the strategy was to find the right real-time analytics that could integrate with its exception reporting and synchronize its video and POS data in real time. This would allow the store to automatically flag suspicious POS activity, document transaction exceptions and enable investigators to interrupt fraudulent activity almost as soon as it occurred. Their research brought them to IntelliVid’s Video Investigator™ Point-of-Sale Accelerator, which provides real time video analytics that can integrate with a retailer’s exception reports to produce fast, documented instances of fraud backed by both POS and video evidence.
Results
By integrating and synchronizing its POS system in real time to its video surveillance system and combining it with IntelliVid’s real time analytics, the retailer is able to track POS transactions and receive alerts of abnormal of fraudulent events through a single monitor. This enables investigators to move more quickly in response to suspected fraud, allowing them to not only solve the big cases but also those previously overlooked because they were just too small to justify the time and effort. The retailer expects its integration of POS and video surveillance with IntelliVid’s fast, real-time video analytics will provide a level of ROI they were unable to achieve with exception reporting alone.
Specific results
YTD 2007 80% increase to LY in internal investigations concluded
YTD 2007 200% increase to LY in total case value
Investigative time significantly reduced with improved results
Identifying theft sooner and significantly reducing loss exposure
Back to Solutions page
|
 |
