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Store Profit Protection

Store Profit Protection

Allows retailers to monitor their discount & loyalty programs, control effectiveness of returns and refunds activities, profile sales trends as well cashier performance.

 

diagram retail store profit protectionIn order to optimize profits within stores, it is critical to ensure that all front office operations (sales, returns, refunds, etc.) are compliant with the company’s policies and all operational transactions are accurate and proactively monitored to detect suspicious activities.

RAID Store Profit Protection provides a set of controls that allows the user to monitor discount & loyalty programs, gain more insight and control over returns & refunds activities, and predict sales trends as well as monitor cashier performance. The goal is to automatically detect exceptions and improve the speed of response to costly mistakes and poor business performance.

KEY AREAS COVERED
Give analysts a broader insight across the organization
  • Discounts & Loyalty Monitoring
    Monitors the usage of these types of operations in the front office in order to enable a more accurate control of the discounts that are offered / redeemed during the checkout, avoiding potential customer abuse and/or fraud occurrences. Additionally, loyalty card control allows a retailer to accurately profile their frequent customers and leveraging its customer offer.
  • Returns & Refunds Control
    By continuously analysing these post-sale services, looking for potential abuse and/or fraud behaviours, the retailer ensures that one of areas that are well known for having a high risk of losses is being continuously monitored.
  • FO Profiling & Integrity
    Analyses the front office operations which allows an accurate sales trends profile and cashier performance in the checkout. It also audits POS reference data integrity (sales and promotions), assuring the retailer’s operational supporting systems integration.
CHALLENGES ADDRESSED
Address industry-specific regulatory and compliance requirements
  • Are returns being controlled effectively?
  • How much time do you spend checking out?
  • How accurate is your POS information?
  • Is loyalty program being controlled?
  • How performant is my FO?
  • Are discounts being controlled?
KEY RISKS AT A GLANCE
Since the product provides a holistic view of data across multiple business environments and applications, you will get the visibility you need to quickly understand the financial impact and risk of each alarm and quickly identify the root cause of each exception
  • System and Human Errors
  • Compliance with Store Processes
  • Inefficient Customer Service
  • Reduced Sales Profitability
  • Abuse and Fraud

CONTINUOUSLY MONITOR CUSTOMER DISCOUNTS

1. Discounts and Loyalty
RAID Retail will automatically audit, not only the customer discounts redeemed, but also the manual price overrides and/or manual entries, allowing a proper control of this area. By providing a continuous monitoring methodology, the software allows a preventive detection of potential customer abuse behaviours and fraud occurrences.

Loyalty card usage is also a critical area addressed by the retail-designed software, not only for controlling but also for profiling frequent customers, allowing the company to leverage their offer.

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DETECT FRAUD AND DEVIATING BEHAVIORS DURING RETURNS & REFUNDS OPERATIONS

RAID Retail validates the returns & refunds operation, in a continuous way, in order to ensure effectiveness in the process compliance, highlight potential fraud attempts or abuse behaviours.

By assuring early detection of suspicious activities, RAID Retail minimizes negative impacts that could compromise the retailer’s performance.

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2. Returns and Refunds3. Returns and Refunds4. Returns and Refunds

ASSURE DATA INTEGRITY AND ACCURACY

5. FO Profiling
RAID Retail monitors the retailer’s front office transactions (sales specifically) in order to provide a correct and efficient perspective on the trending of this FO Profiling & Integrity area.

Since operational systems support the whole business process, RAID Retail ensures their full accuracy.

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LEARN MORE ABOUT STORE PROFIT PROTECTION FOR LARGE RETAILERS

Overview

RAID RETAIL COVER DATASHEET
 

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