By integrating video surveillance images with point of sale, or PoS, transaction data, the new offering is designed to enable retailers to pinpoint, and capture, evidence of circumstances leading to stock loss.
The BT Loss Prevention technology, which leverages BT Redcare’s expertise in digital CCTV network storage, has been introduced particularly to help retailers address the issue of staff-oriented shrinkage. According to the European Retail Theft Barometer, staff theft, along with staff assisted theft, is the second most common form of shrinkage (38 per cent of all cases), close behind customer theft (43.3 per cent). In 2006, it cost the retail sector GB pound 1.49 billion. Internal errors, such as staff till mistakes or procedural errors, account for a further 14.3 per cent.
Although 80 per cent of retailers already have CCTV and all have PoS systems, few currently integrate these existing technologies to identify and manage shrinkage more effectively, BT believes. “The BT Loss Prevention solution enables retailers to utilise their existing IT infrastructure by connecting these systems across a modern IP network,” the company says.
BT Global Services UK retail sector manager Gary Sharp said: “Retailers are recognising that reducing shrinkage is a profit growth strategy; it needn’t just be accepted as a cost of doing business. At a time when competition in the sector is fiercer than ever and there’s renewed pressure to reduce efficiencies, it’s starting to creep up the boardroom agenda.
“Utilising our combined technology expertise across the business, from BT Redcare’s security capabilities to our unrivalled networking expertise, and in-depth knowledge of the retail environment, we’re able to offer real-time management of shrinkage at store level.”
The solution links CCTV footage with till transaction details to provide exception alerts, which are reports designed to highlight unusual behaviour.