Profit protection in store as Overtis launches VigilancePro Retail
User activity management software integrates EPOS and CCTV security to combat retail shrinkage
LONDON, UNITED KINGDOM – 2nd November 2010. Overtis, a pioneer of user activity management software, has launched VigilancePro Retail to combat retail shrinkage, measure promotions, manage staff productivity and identify training requirements. The software integrates electronic point of sale (EPOS) and CCTV systems, creating a visual audit trail of all employee activity on tills.
The British Retail Consortium reported that shrinkage represented 1.5 per cent of retail turnover last year. Half of this figure was attributed to human error, such as giving too much change to customers, or deliberate acts of dishonesty by employees.1
A recent survey of European retail losses, conducted by the Centre for Retail Research, found that staff shrinkage in the UK is the highest in Europe, accounting for 36.8 per cent of retail losses. The European average is 29.8 per cent of retail losses caused by employees’ dishonesty.2
VigilancePro Retail combats staff shrinkage by monitoring every key press on EPOS devices and linking this with CCTV surveillance systems, to create an irrefutable audit trail of all activity at payment points. For example, repeated void transactions or refunds will create an alert on the system. The software maximises retailers’ existing investment by integrating easily with analytics and data warehouse systems and supporting a broad range of EPOS and CCTV hardware.
Centralised management from the VigilancePro server allows reports to be automatically run and sent to the appropriate people. Irregular EPOS activity is immediately flagged to management, with real-time links to EPOS screen shots and CCTV images, allowing security personnel to respond to incidents as they are occurring. VigilancePro Retail can also be used to add a “panic” button to the EPOS application, so that employees can call for assistance if they are put under duress or challenged by customers.
Commenting on the launch, Ed Macnair, CEO of Overtis said, “While recent figures show that the UK has the highest levels of retail staff dishonesty in Europe, shrinkage is a global problem, costing the sector millions of pounds every day. VigilancePro Retail tackles these losses by identifying dishonest behaviour at the earliest opportunity. By linking EPOS activity with camera images, shrinkage can be pinpointed to individuals, providing visual evidence of any attempts to defraud the retailer”.
VigilancePro Retail will be available from 2nd November and distributed worldwide by Overtis’ global distribution partners.