LP Reporting Reduces Suspicious Transactions

By Integrated Solutions for Retailers magazine

Giant Tiger uses the reports generated by LP Data Mining at both the enterprise level and the store level. "We gave our store managers and franchisees access to the LP Data Mining information so they could look for patterns in refunds and item voids and determine whether they need to be followed up on," notes Ling. "The managers are in the best position to determine whether particular incidents are training issues, cashier errors, or situations that need to be escalated to the LP department."

With retail margins getting smaller, store owners are constantly on the lookout for ways to cut unnecessary losses, such as internally generated shrink. POS exception reporting using rules-based alerts is one of the most effective ways to pinpoint erroneous or fraudulent transactions at the POS. Exception reporting solutions help LP managers identify internal fraud and other POS irregularities based on a set of retailer-defined business rules. Retailer LP personnel can use the information generated by exception reporting to track incidents over time and to gather evidence needed to address personnel issues. Plus, retailers find that simply alerting store personnel to the fact that exception reporting is in use can itself be an effective deterrent to internal fraud.

Used with permission from Integrated Solutions for Retailers magazine