Expanded partner program and installations bring real-time loss prevention to more than half of the world’s top 15 retailers
Cork (PRWEB) - Everseen, the leader in real-time computer vision AI for retailers, today announced an expanded suite of products to address the retail industry’s $100 billion global annual shrink problem#_ftn1 []. The expanded product line delivers end-to-end computer vision AI for retailers#_ftn2 [] from the checkout at the front of the store, through the shop floor, to the back of the store and beyond.
The company also announced that it has doubled its store installations, with growth driven by expansion with grocery retailers in the U.S., Europe, and Australia. Everseen is trusted by over half of the world’s top 15 retailers to prevent losses and its solutions are now in use in over 6,000 major retail stores (over 80,000 POS).
“With the economic crisis adding greater pressure, retailers are turning to AI solutions that can address loss prevention and simultaneously deliver a great customer experience,” said Alan O’Herlihy, founder and CEO of Everseen. “Everseen’s computer vision AI delivers insights that enable retailers to see and solve complex challenges in real-time to significantly reduce losses and improve margins by up to 20 percent.”
Everseen’s expanded product suite includes four new AI-driven solutions for loss prevention:
- Evereagle provides a high-level view and insights for the checkout and exit areas, applying computer vision AI for queue management as well as additional layer of loss prevention
- Evershelf applies advanced AI models and insights to deter loss on the shop floor and support inventory management
- Everstock helps increase sales and improve inventory management by alerting staff when an item on the shelf is out of stock
- Eversolve is an application designed for Department, Store, and Regional Managers to pinpoint processes needing immediate attention and to help staff solve issues, improve trends, and reduce variances
These new offerings complement the company’s existing products, Evercheck and Everdoor. Evercheck is the company’s front-of-the-store solution for detecting and correcting both deliberate and unintentional errors at self and staffed checkout lanes the moment they happen. At self-checkouts#_ftn3 [], Evercheck uses a unique nudge approach, with a response time of 300 milliseconds or less, enabling shoppers to correct mistakes that lead to shrink, and reducing the need for staff intervention and potential for conflict. Everdoor reduces loss and improves process compliance in the stock room.
Everseen also expanded its technology partner program to integrate computer vision AI into existing solutions used by retailers. Partnerships now include Dell, Lenovo, Nvidia, Qualcomm, and others. Everseen’s solutions are tech-agnostic, seamlessly integrating with customers’ existing camera, computer hardware, point-of-sale, and other business systems.
Everseen’s computer vision AI technology is trusted by over half of the world’s top 15 retailers to mitigate and reduce shrink, streamline operations, and help to deliver a better customer experience. From store to warehouse, and checkout to shelf, the company tackles the $100 billion global annual retail shrink problem by processing and analyzing 275 years of video daily and in real-time, while monitoring 220 million products and 22 million customer interactions per day. Pinpointing processes that need immediate attention and instructing on the next best action to take enables businesses to see and solve any retail challenge. This allows retailers to reinvent business processes that increase revenue, reduce cost, and mitigate risk, while improving experiences for customers, employees and vendors alike.
For more information, visit:https://www.everseen.comhttps://www.everseen.com.
#_ftnref1 [] The global shrinkage rate runs at 1.4-1.6% of annual retail sales [Source: NRF].
#_ftnref2 [] Less than one-third of food retailers are currently using AI, according to The Food Industry Association, but 71% report that they plan to increase spending on AI [Source: Total Retail’s 2022 Retail Technology Report].
#_ftnref3 [] Consulting firm RBR expects that in five years 160,000 stores globally will provide some form of self-checkout (whether through dedicated machine or smartphone), compared to 46,000 in 2021, and 36,600 in 2020 [Source: The New World of Consumer Behavior: Retail 2022-2023].