Exacq is at this week’s NRF Loss Prevention Conference in Minneapolis, where the focus is on technology – specifically interoperability of technology – in reducing shrinkage.
A case-study presentation by Hallmark showed almost 6% shrinkage as a percentage of sales in the early 90s before audit measures, combined with new technology, began to be implemented. In the last couple of years Hallmark has upgraded their CCTV systems and added tie-ins with POS and audit software, among other measures. The result of this focus on loss prevention combined with investment in new interoperable technology has seen shrinkage decline to slightly over 1% of sales.
A case-study of Belk Stores emphasized the importance of network-based digital CCTV and interoperability with exception reporting, POS and alarm systems and the ability to sync the video with all other reporting processes.
ExacqVision network DVR offers unique advantages for retail Loss Prevention. The ability to have both analog cameras and IP cameras maximizes flexibility for all rooms and all locations. Client Server architecture provides a stable, secure platform and enables all stores to be monitored remotely. The ability to fully tie into existing POS systems, display POS data, search on POS data, and tie into exception reporting software makes exacqVision a powerful loss prevention verification tool.
Trends in Loss Prevention
The results of a survey of National Retail Federation members were presented, and showed digital video in use by 82% of respondents in 2005, up from 75% in 2004. With newer technologies such as exacqVision coming on line, a significant percentage of respondents are planning new investment in video surveillance for 2006:
(* % planning more utilization in the coming year)
- Digital Video Recording Systems (39.7%)
- Video Monitoring over Internet (39.7%)
- POS Data Mining Software (19.9%)
- POS exception-based CCTV (15.1%)
The exacqVision platform provides for scalable digital video recording from various types of video sources, allows for monitoring and managing of multiple locations over the internet, connects in with POS systems and data mining software, and provides lower cost/camera due to higher camera density, better compression, and the addition of IP cameras.