RETEL TECHNOLOGIES

To request this white paper, click here now.

As the world economy continues its weak recovery, internal shrink and fraud continues to plague both retailers and restaurants as the biggest source of loss for these organizations. The combination of a high volume of cash transactions, valuable and useful product inventories, cash-strapped employees and insufficient utilization of existing deterrent mechanisms has served to increase both the frequency and significance of these loss events.

Fortunately, there are many tools available to managers now to help curtail these losses, starting with understanding the employee motivation to steal at its psychological core, and then understanding how to replace these motivations to steal with motivations to perform.

To explain these motivations, our latest white paper explores the management concept of Expectancy Theory as it relates to employee theft and employee performance.

In this white paper, we will explore:

• The three psychological factors that determine whether or not an employee is likely to steal
• One simple change you can make today to instantly transform high-theft employees into high-performing employees
• How the same forces that hamper employee performance can also hinder management attempts to reduce shrink and increase revenues.

To request this white paper, click here now.

To learn more about Expectancy Theory, click here.

QUICK LINK: Download the whitepaper here – no registration is required.

Within the retail industry, it’s commonly known that internal fraud – that is, losses that occur because of employees – account for the majority of thefts and losses suffered by retailers. With the one exception of organized retail crime, these internal losses are typically the biggest concern for retailers’ loss prevention (LP) and asset protection (AP) departments.

Internal loss comes in a variety of forms. At the simplest level, asset misappropriation activities such as skimming (taking cash before it hits the books) and larceny (stealing cash and product that is already on the books) can be pervasive throughout the organization, from the stores to the warehouse to corporate HQ. At a more complicated level, corruption activities such as embezzlement are often more isolated to senior management levels, and are often very difficult to detect.

In their latest Report To The Nations, the Association of Certified Fraud Examiners (ACFE) surveyed corporations and independent CFEs worldwide to discover three key sets of data:

1. The types of fraud events that organizations typically experience
2. The total dollar amount associated with each type of fraud event
3. The average amount of time it takes to detect a fraud event

The report was both fascinating and sobering. Overall, most organizations lose five percent of their annual revenues to fraud. Factor in the low margins of retailers, and this becomes an extremely significant hit to the bottom line. Even more troubling, however, is that fraud events often go undetected for as long as two years. Early detection, and technology that enables early detection, therefore becomes paramount to organizations that suffer regularly from these losses. It can make the difference between profitability and significant losses.

We have taken the 2010 Report To The Nations and analyzed the key points that are relevant to retail LP and AP professionals. In particular, we look at the impact that early detection has on reducing losses suffered as a result of fraud. The white paper is available for download by clicking on this link, and no registration is required. Please feel free to distribute this white paper, and your feedback is appreciated.

ReTel Technologies will be exhibiting in booth 1140 at the
National Retail Federation Loss Prevention Conference and Exposition in Atlanta from June 14-16, 2010.

ReTel’s powerful surveillance discovery platform has been designed from the ground up to extract, organize and report on the valuable loss prevention, operations and marketing data captured by existing surveillance systems as efficiently as possible. ReTel’s surveillance discovery platform seamlessly blends the capabilities of a trained auditing workforce with the efficiency of cloud-based video processing to deliver next generation surveillance solutions with radical shifts in cost, accuracy and reliability.

To schedule a meeting at the show, please contact us today.

The team will be meeting with prospects, existing clients and security vendors and they look forward to forging new partnerships at this event.