Launches solution to provide retailers with an integrated view of the shrink management lifecycle

Launches solution to provide retailers with an integrated view of the shrink management lifecycle

Wipro Retail, a specialist division of global IT services provider, Wipro Technologies, has announced the launch of its integrated Loss Prevention (LP) platform.

The provider is claiming its solution is the first of its kind to provide complete visibility into the entire shrink management lifecycle.

The new LP Platform has been designed to help identify internal and external theft and provides a comprehensive view, from identification to resolution. The solution integrates a video management system with a retailer’s point-of-sale (PoS) and case management systems, which it said can help accurately pinpoint areas of theft that were previously difficult to identify.

Wipro said the LP Platform addresses some of the current operational issues faced by retailers by also incorporating business performance management. This would help retailers identify bottlenecks, prioritise cases and drive a higher rate of closure.

Bundle offers one-stop LP shop

The platform also includes a ‘next-generation’ analytics suite that it said would also help retailers prevent fraud using predictive modelling. Other features of the solution include the ability to identify trends and shrink hotspots; executive dashboards for effective decision making; and Intelligence On-Demand – a reporting feature that is integrated as part of business processes.

The solution is backed by workflow and dashboards so retailers can ensure that shrink is being dealt with and that data is put in the hands of managers in the frontline, the provider added. And its LP platform will be delivered by bundling technology, infrastructure and business services, eliminating the need for the retailer to own the software.

"In a tough economic environment, any reduction in shrink is a straight boost to the bottom line. The LP Platform is an innovative solution that looks to identify, manage and prevent shrink in a holistic way. It will improve the effectiveness and throughput of LP operations, thereby enabling retailers to improve their operational efficiency and improve their margins," said Mike Davies, Wipro Retail vice president.

He added: “The Wipro Retail LP solution has been developed as the result of the growth that we’ve been experiencing. That growth has allowed Wipro Retail to deepen our capabilities, and build new ones. In the area of shrink, we have extensive experience in stores systems and have helped some of the leading retailers with their loss prevention operations.”