AUSTIN, Texas -- PerformanceRetail, a provider of web-based software for the high-velocity retail industry, and FKI Security Group, a U.S. security and loss prevention company, have entered into a co-marketing alliance to provide web-based software applications and security hardware such as digital video recorders and intelligent safes as part of an end-to-end loss prevention offering to the retail industry.
This alliance will enable retailers to monitor key performance indicators of shrink, more quickly identify the source of the loss and move to resolve [image-nocss] the issues, reducing loss and improving retailer profitability, the companies said.
Through its MADE (Multi-Application Data Exchange) interface, New Albany, Ind.-based FKI Security Group's Image Vault digital video recorders (DVRs) can interface with a variety of devices in the retail store environment including access-control systems, alarm panels, ATMs, electronic safes and point-of-sale (POS) devices. Austin, Texas-based PerformanceRetail's InSite Loss Prevention Edition tracks events at the POS and identifies issues that negatively impact retailer margins, with a particular focus on cashier actions that correlate with fraudulent behavior.
By integrating the platforms from the two companies, retailers can track loss indicators from the POS and tie questionable events back to video of the specific potential fraud or theft occurrence. The video from the FKI Image Vault DVR, coupled with the transaction data from the PerformanceRetail InSite software provide the retailers with a closed loop loss prevention solution that can quickly drive ROI.
Additionally, retailers can leverage the instant alerts features of InSite to remotely monitor and tie alarms to activities related to FKI's NKL Cash Handling Systems, further improving their loss prevention processes.
Image Vault DVRs, FKI Security Group's flagship product, have been proven in many different retail environments nationwide, the company said, where simplicity and durability are key factors. Image Vault, currently shipping Version 8.4, offers faster record rates, smaller image sizes and the stability of the Windows XPe OS.
The PerformanceRetail InSite Loss Prevention Edition provides real-time visibility into the key metrics of shrink and enables proactive resolution of potential losses through:Chain, district, store and cashier loss prevention Scorecards which highlight and correlate loss indicators across the entire organization. Instant alerts, which provide notification of exceptions at the cashier, store or district level on key loss prevention indicators such as price overrides, voids, errors, no sales, coupons, cash over/short and scan rate. Shift analysis and loss prevention-specific transaction and cashier reports, with drill-down capability to enable quick issue resolution. InSite Agent which can continually monitor POS activities and securely transmit transaction-level data to the retailer for issue analysis and resolution.
Steve Aronson, FKI Security Group's vice president of marketing, said the partnership will enable the retailer to identify areas of loss and quickly take steps to resolve potential issues. PerformanceRetail creates and supportsapplications that enable retailers to track and improve retail performance, and FKI Security Group buildsdevices that monitor and control cash from the POS all the way to the bank drop or pickup by the cash transporting service, he said.
FKI member brands include FireKing, Meilink Safes, Gary Safes, McGunn Safe, NKL Cash Handling, and Image Vault Digital Video Recorders.