French Connection has said it significantly cut potential till fraud, seven months after implementing a system that analyses data from till software.
In July last year, the hosted SeeWhy Loss Alert system software went live in the 80 French Connection stores in the UK, and two months later in the company's 30 US stores.
Till fraud is a common problem among retailers and can include staff undercharging for items or refunding excessive amounts of cash for goods bought more cheaply.
French Connection uses the SeeWhy system to alert its store managers quickly to any unusual activity. The system uses real-time behavioural profiling to analyse expected transactions for each store, cash register and cashier, based on historical data. It is hosted by Sanderson RBS, which supplies the Retail-J electronic point of sale system to all French Connection shops.
Doug Gardner, IT manager at French Connection, said the service was a “powerful fraud prevention tool”.
“In a short time, we’ve seen a great reduction in ‘no-sale’ and ‘void’ transactions - key indicators of potential fraud - and have been able to implement and enforce other store policies by having better visibility into our transactions and the habits of our cashiers,” he said.