Retailers and other businesses alike have long struggled with the issue of loss prevention. Traditionally, loss prevention has focused on fraudulent activity and reducing shrinkage. Businesses have used CCTV as a tool to detect employee theft and shoplifting. Rapid advancements in technology are enabling retailers to implement more advanced and proactive loss prevention strategies.
AFN Solutions are working with new technology to combat alternative forms of preventable loss. Utilising existing cameras, retailers can use intelligent video management and analytics software to address loss prevention.
Intelligent Video Management
Nowadays, video is ‘intelligent’ and images are extremely high-definition, enabling users to utilise video for more than just basic security application. AFN’s video management system gives high resolution images and superior zoom capabilities, which allow for accurate detection of fraudulent “slip and fall” incidents, employee or customer theft and clarification of POS disputes.
- Smart search function allows efficient detection of activity in areas of interest
- Theft protection with alerts when motion is detected in areas of interest, such as POS areas or safe
- Video verification of transactions and other incidents
- Reduce exposure to liability with high resolution images
Video Analytics – if you can measure it, you can manage it!
Video analytics are a hot topic among retailers at the moment, with smart businesses looking for innovative new ways to optimise the in-store experience for customers. The data provided by AFN’s analytics suite offers this capability, but also the ability to act as a unique loss prevention tool. Retailers can use customer behaviour analytics to prevent issues resulting in reduced sales or unnecessary expenditure.
- Queue management to reduce wait times and minimise risk of abandonment
- Heat maps to show the effectiveness of store design and promotional placement
- Product lift data to determine effectiveness of product placement and optimise to drive sales
- People counting to combat over or understaffing
Whilst traditional security is still an important tool, its integration with new analytics technology pertains to a further, proactive outlook towards loss prevention.