Highly skilled team reduces theft, increases profit, ROI 6 months
Leusden, The Netherlands − 2nd of November, 2010 − Torex Retail Holdings Limited (Torex™), the leading global provider of innovative, integrated technology solutions to the extended retail marketplace, announced it has signed an exclusive agreement with StoreVision to offer the first fully managed retail shrinkage service in The Benelux.
As part of the agreement, Torex has acquired the exclusive distribution rights for the globally-proven StoreVision shrinkage solutions in The Benelux, and has established a dedicated unit based in the Netherlands to provide retailers with a total managed solution. As well as providing all the hardware and software required to combat theft, the Torex unit incorporates a highly skilled team of people with extensive experience and expertise in tracking and analysing irregular activities.
StoreVision is an advanced data mining system. It combines data from a retailer’s existing POS system with CCTV video surveillance to deliver the most productive and quickest POS auditing system worldwide. StoreVision integrates out-of-the-box with Torex POS solutions, with full integration typically completed operation-wide within two to three days. The Torex/StoreVision managed solution can also integrate easily with other POS systems.
The Torex managed solution will synchronise all POS transactions with the corresponding digital video images and automatically identify potentially irregular activities. Every irregular transaction can then be reviewed frame by frame, with the aid of 240 filters. This unique drill-down capability will enable the specialist Torex auditors to quickly identify the irregular transactions and process errors that cause losses for the retailer, to identify the criminal or criminals involved, and also to analyse their historical activities for additional crime in order to build a successful prosecution case against them.
Several well known retailers in The Netherlands have already benefitted from the integrated StoreVision/Torex solution, and report a typical return on investment of six months, with losses reduced by an average 0.5% of sales. With its new managed service, Torex will significantly enhance this offering by supervising the operation on behalf of retailers, enabling them to focus on their core business activities.
Theo Hendriksen, Country Manager, The Netherlands, Torex said, “This Torex offering is a breakthrough for retailers. Unfortunately, fraud at the checkout is very common. It is very difficult for a retailer to avoid losses, so it is also an expensive problem to have to deal with. At least half of the theft is conducted by checkout staff. The Torex managed solution will not only help retailers to identify fraudsters and support prosecutions, but will help them improve the quality of their staff and service, and increase revenues. The fully managed service will also free up retail managers to concentrate their efforts on revenue-generating activities”.
Fred de Haas, Director of Sales, StoreVision, said, “We are very excited to be partnering with Torex in this regional first. Torex’ expertise in the extended retail marketplace is second to none, and with this new initiative they will provide much needed help to retailers who are trying to tackle this very challenging and extensive problem”.
About Torex– www.torex.com
Torex is the leading global provider of innovative, integrated technology solutions to the extended retail marketplace.
Torex has over 25 years’ experience of working in partnership with the world’s most forward-thinking retail, petroleum and convenience and hospitality brands to entice, engage and retain their customers.
Over 7,000 customers worldwide depend on our proven, best-in-class solutions and knowledgeable industry experts to help them identify, define and deliver a more personal and qualitative experience for each customer, and to maximize profitability, increase return on investment and achieve competitive advantage. Torex customers include Hema and Zeeman.
Torex Media contacts:
Joyce Guliker
Tel: +31 (0)33 43 41 400
Mobile: +31 (0)6 53 64 51 82
Email: joyce.guliker@torex.com
About StoreVision
StoreVision was founded in 2002 to provide retailers with tailored systems and solutions, to successfully reduce retail shrinkage and process errors. The company was created by a team of experienced retail security professionals who enjoyed succesfully careers either working within major retailers or supplying them with technology to reduce shrinkage. StoreVision Solution has been proven in various retail formats, including pharmacies, convenience stores, supermarkets, hypermarkets, specialty stores and department stores.
StoreVision CEO:
Ørn Johansson
Tel: +45 781 112 00
Mobile: +45 525 112 00
Email: orn@storevision.com
