Real-Time Loss Prevention: Changing The Game In Fraud

Aberdeen selected three key performance criteria to distinguish Best-in-Class companies from industry Average and Laggards that are frequently measured within the retail industry. Based on these indicators, Best-in-Class companies showed the following performance:

• 93% have a chain-wide year-over-year shrink rate of less than 1%(.83%)average
• 90% have a loss prevention audit compliance from more than 90% stores
• 60% have recorded fewer than 2% invalid transactions(unauthorised or fruadulent)as percentage of total transactions

Survey results show that the firms enjoying Best-in-Class performance shared severall common charecteristics:

• Best-in-Class companies are twice as likely Laggards and 30% more than Industry Average companies to conduct real-time theft analysis
• Best-in-Class companies are 40% more likely than Laggards to regularly report transaction management functions and sales audit results for individual stores

In addition to the specific recommendations in Chapter 3 of this report to achieve Best-in-Class performance, companies must:

• Impliment Business Intelligence(BI)tools and predictive analytics to measure, analyze, and report theft and fraud data trends
• Improve the focus on cash asset protection and access control systems to prevent internal theft incidence
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