One of the most common forms of fraud involving employees is “sweethearting,” in which the cashier passes items without scanning them for a friend or family members. This sleight-of-hand at checkout is particularly difficult to spot and several solutions involving the integration of video surveillance and
POS data are trying to solve this problem.
Future Prospects:
Technological improvements, among them the growing use of IP equipment, will make integrations easier. “Going forward, increasingly we’ll be able to get data directly from central computers, as opposed to connecting with every register. Connecting with every register right now is somewhat of a hardware nightmare. The challenge will get easier as data exchange formats mature and we see more IP adoption.
Loss prevention in the retail businesses is concerned with inventory shrinkage and the shortage of currency. Losses related to POS transactions can be a main cause of the shrinkage for the most part. An effective POS-DVR surveillance solution can help employers deal with these situations.
The GeoVision POS-DVR surveillance system uses video text overlay technology to provide visual contextual awareness that helps reduce shrinkage and protect asset against business losses. While working in conjunction with GV-Data Capture, the GV-Series surveillance system can turn into a POS/DVR surveillance system, which helps you with tools to remotely monitor cashier area, associate POS transaction data with videos, record videos for retroactive analysis, and even output alarms for emergency events.
Together with the growing adoption of IP infrastructure, more and more integrations will be possible. These integrations of different systems will allow retailers to gain insights and benefit beyond loss prevention.
The combination of POS data, video footage, video analytics, and data mining will help retailers not only curb shrink, but more importantly get a more complete understanding of their clients, what they buy, where, and how.
Case study:
A nationwide convenience store introduced GeoVision POS-DVR surveillance system at a franchise, which helped identify and correct employee POS manipulation and training insufficiency. The result was a 98% improvement on internal shrinkage within one month after the initial use. Within two months after the initial use of GeoVision POS-DVR surveillance solution, the convenience store identified 5 refund frauds and cash handling wrongdoings, and several shoplifting cases.
Source: a&s Magazine