Genetec Inc., globally renowned technology provider of unified security, public safety, operations, and business intelligence solutions has announced Security Center Transaction Finder, a POS (Point of Sale) integration tool with exception-based reporting capabilities, designed to help retailers speed up their investigations.
The new POS tool with exception-based analytics embedded in security platform helps retailers reduce shrink by quickly detecting suspicious transactions and correlating events with surveillance video.
Security Center Transaction Finder
Embedded in the security system, Security Center Transaction Finder correlates POS data with corresponding video, with the ability to bring in additional sources such as analytics as an added feature. It eliminates the need to jump between different platforms, and helps investigators filter through large volumes of transactions to quickly detect suspicious activities that might warrant further investigation. Retail shrink is increasing, and theft tactics are becoming more complex, strategic and internal
Retail shrink is increasing, and theft tactics are becoming more complex, strategic and internal. According to the National Retail Federation (NRF) 2019 national retail security survey, theft, fraud, and losses from other retail “shrink” continues to rise (totaling US$ 50.6 billion in 2018, up from $46.8 billion the year before). To identify theft trends and combat loss, retailers are increasingly turning to technology to put in place effective ways to work smarter and automate their processes to reduce losses and preserve valuable margin.
Theft and financial fraud detection
“Working with a variety of tools and applications to reduce retail loss is a critical aspect of any retail investigator’s job. However, the enormous volume of POS transactions to review, combined with the amount of time it takes to manually find the security video associated with potentially fraudulent activity makes this a daunting task. With Transaction Finder, we solve that problem by using a single tool that makes it easy to detect theft trends, identify suspicious transactions and locate video of interest,” explains Rob Borsch, Practice Leader – Retail and Banking at Genetec, Inc.
Scanning POS database
Using the Transaction Finder task in Security Center, investigators simply enter relevant search criteria like date and time, employee name, SKUs involved in the transaction, void transactions, or whether motion was detected on the customer side of the register, etc.
Transaction Finder will scan the POS database for activities that meet the selected criteria along with the associated video and the transaction details. Using customizable dashboards, investigators can quickly identify suspicious transactions, immediately review the associated video for more context, and flag transactions for further investigation.