Fujitsu calls in the fraud squad
1 April 2005 | 0
Fujitsu Services has launched a new system to help retailers counter the problems of fraud and shrinkage by analysing data collected at point of sale terminals.
The Loss Prevention Management System (LPMS) has already been used extensively in Europe following two years of product development and trials.
The LPMS system searches and analyses data from every PoS terminal in each store for each employee throughout the day and the week. It then presents accurate and flexible analysis in a graphical, user-friendly format.
According to recent European statistics, shrinkage in the retail sector can account for up to one per cent of gross turnover. Of this figure, on average 17 per cent occurs at the point of sale – such as misuse of staff discount, or suspiciously high numbers of ‘voids’ at the cash register. Previously, tackling the problem of fraud at the point of sale involved analysing large amounts of data, considerable manpower and some luck.
The LPMS provides prompt and exact access to information on risky PoS activity, allowing an audit or security team to follow up irregular transactions that may have taken place at the cash register.
Fujitsu Services: +353 (0)1-2161800