Innovations in transaction tracking to improve retailer profits

Digital transformation and the ongoing move towards cloud-based platforms and infrastructure has brought significant change to the world of physical security. The tired legacy solutions of the past – one-dimensional and capable of only the most very basic functionality – are rapidly being replaced by hosted network-ready solutions facilitating device interconnectivity and impressive data-sharing. Businesses can now protect their assets, premises and people with a wealth of security technologies operating on digital platforms for high levels of comprehensive security and protection.

Cloud has the ability to transform security solutions into business intelligence solutions utilising collected data and powerful analytics to unlock many benefits beyond security. Retail is one such industry that is experiencing the cutting edge of physical security technology, with the growing popularity of a solution to help improve transaction accuracy and boost profits through verification of sales, order processing and delivery success.

Watch Morphean’s new transaction checker tool in action with Footasylum

A smart solution for retail

Consider a busy warehouse where items are picked and packed to fulfil customer orders. Once this process has been completed and goods dispatched, there is very little that can be done to remedy a misplaced order, or to challenge a customer who claims to have received an empty or part-complete package. Retailers are usually faced with having to bear the cost, refunding the customer or resupplying items.

With a solution in place that can monitor the product journey from the time it is picked, through packing and delivery to a customer door or a store, retailers have full peace of mind that their processes are fully tracked, adding a greatly needed layer of profit protection. Video can be retrieved instantly as required and this provides full transparency across packing lines, or even within retail goods manufacturing, where quality control may be an issue.

Video surveillance, together with dedicated transaction checking software results in a business intelligence solution that allows users to link video with specific key pieces of data, such as a transaction ID, client number, date and time. This data, backed by surveillance video, provides irrefutable proof that an order has been fulfilled and delivered, giving a retailer the evidence they need if that order is disputed later in the journey.

Accountability and security

The ability to link manual processes to video data provides accountability and security for each and every order. And those retailers who have implemented such a solution are already reaping the benefits. One example is Footasylum, a fashion streetwear and sportwear retailer that has already found that missing item queries have reduced by 50% and delivery success has increased by 25% as a direct result of implementing a transaction checker solution within their warehouses.

The transaction checker solution is based on an as-a-service model, making the technology affordable for businesses big and small. Regular software updates and firmware upgrades mean that the dynamic business intelligence solution is always online, always up-to-date, and capable of reinforcing, improving and protecting retail processes now and in the future.

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