Loss prevention
1-3% of revenue is lost by fraud 50% fraud cases are done by on ground staff. So what preventive measures can you put in place to reduce loss and protect your profits? Click the button below to find the answer
Faster investigations, Shrink reduction
Loss, also called “shrinkage”, caused by deliberate or inadvertent human actions and can lead to problems that make (you) suffer from staying in business. Thus, loss prevention is not only crucial but also likely to lead to higher profits and more business growth. Cases can be investigated in hours or days instead of months, dramatically reducing overall losses. Shrinkage can be prevented by implementing preventative measures:
Detect No-Bill Transactions
Automatically notices if cashiers receive payment from customers but do not issue any receipts or post any sales transactions on the POS system
Detect Abnormal behavior
Automatically detect any abnormal behaviour such as: no staff presence, staff eating/ drinking, staff using phone, returns/ refunds/ void transactions posted on the POS system without clients present at the checkout and services counters
Provide alerts with videos, images
Alerts and surveillance footages are sent daily for review and potential frauds are immediately reported
Analyze data for unexpected losses
Analyzing reports/highlights are sent weekly to monitor loss trend. Provide opportunities to learn from near misses, accidents to improve or create new loss prevention strategies, which help your business perform better in the future
Case study
The client
A big chain of convenience store in Myanmar
The client implemented a team of 70 people to monitor via CCTV its 300 stores for shrinkage detection. But the loss improved by only 1%. Then, they contacted Yedda
The impact
As of month 3rd, fraud cases have decreased by 54%
Yedda tools immediate impact on loss prevention/ fraud rates. Measuring the total transactions per store, cashier sales Vs. system sales, and even measuring the physical presence of the staffs
