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Finding profit loss in your store requires dozens of hours a week, constantly monitoring thousands of transactions. Combing through the data for lost profits in your store can feel like finding a needle in a haystack. Outdated manual processes and POS flagging systems often miss what's right under your nose, hiding in the massive spreadsheets.
A current Storewise customer found almost $20,000 in profit loss tied to a single employee, using the Risk Module.
“All it took was for Storewise to flag the suspicious transactions and a click to expose it, [management] to identify the loss due to fraud, and [LP] to investigate the full extent of loss at their store,” said Dan Armour, Storewise Manager of Profit Protection.
Storewise Risk Module even broke down the details, revealing exactly how the employee had committed fraud and flagging every single transaction that was used to commit the fraud within the last 90-days. When the transaction occurred, which lane each instance occurred in, what items were used, the cost of each transaction, and the total loss - all of these critical details were made available at a glance.
These details helped the grocer shore up operations and identify security improvements to prevent it from happening again. More impressively, the loss identification, resolution, and process improvement took place within less than a month of starting the Risk program.
In this case, Storewise Risk Module took less than a month to identify and halt two years of fraudulent activity.
Risk takes care of all the heavy lifting. From examining each and every transaction at every store, every night, to setting loss thresholds that keep you from wasting your time, we take your loss prevention capabilities to the next level.
This story came directly to our customer success team at Storewise. To speak with us about protecting your profits, reach out to michelle.morris@storewise.io to schedule a 15 minute virtual tour of the affordable and customizable Storewise Platform today.
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