Loss Prevention Managers Look To The Cloud

Loss Prevention executives get first look at new cash management solution from Tellermate at the NRF Loss Prevention Conference & Expo in Dallas. Tellermate will be launching T-knx, the latest innovation in its range of solutions to reduce cash loss in the retail environment. Stop by Tellermate Booth #825 and be among the first to experience the T-knx solution.

Dave Lunn, Group Sales Director at Tellermate, recently presented a paper at the Retail Fraud Conference in London. During the presentation Dave made reference to the fact that employee theft across the world costs retailers $38B. In addition, 80% of retailers questioned in the US identified employee-related shrink as the most important issue to tackle in the field of loss prevention. 81% said that point of sale is the most important area to focus on to lower shrink. Dave also pointed out that cash is one of the top three causes of shrink at 46%. (Source: Loss Prevention in a Post-Recession World - Benchmark Report, Retail Systems Research, 2011)

To help retailers reduce cash shrinkage, Tellermate is launching T-knx, a sophisticated and secure web-based management tool which seamlessly integrates Tellermate cash counting equipment into back office business processes. This market leading technology captures data from your T-iX machine and uses it to analyze and report business cash counting data in real time. T-knx gives loss prevention and cash operations staff the tools they need to capture and analyze all their cash handling data without the need for investment into back office systems.

"T-knx is so easy to use, yet it provides data mining and management information capability that, up to now, has only been available with a considerable level of back office and IT investment" says Dave Lunn. "Using T-knx helps to drive adherence to process, a key deterrent against staff fraud."

The T-knx system works by seamlessly capturing count data from the Tellermate T-iX weight-based cash counting machines. Every drawer and safe count from each store location is transmitted to the web application. T-knx presents business cash counting data in both clear and concise graphical dashboards and detailed tabular formats that allow drilling down to specific locations, operators or check outs.

Additionally, exceptions such as missing counts or substantial gaps to the Z reading will be highlighted and notified in real time by email alerts, allowing immediate corrective actions to take place. T-knx provides the management information required to drive better cash management processes, investigate exceptions and provide evidence required to challenge fraudulent activity with confidence.

About Tellermate:
The Tellermate Group is a leading provider of cash management systems for the retail, food service and financial industries. With over thirty years of industry experience and background, Tellermate has a global portfolio of blue chip clients. Across the world, Tellermate systems process more than $1B daily in over 20 currencies, helping clients to increase the profitability of cash transactions by verifying count accuracy, deterring fraud and delivering real time management information.

SOURCE: Tellermate, Inc.