Torex Retail Holdings has launched a tool to help tackle the issue of internal losses.
The provider of technology solutions to the extended retail marketplace has announced the launch of the Torex business analysis loss prevention tool that equips companies with insight into improperly handled sales, returns and refunds by staff.
It is a web-based product that is installed in the central database of a retail chain to allow managers to scrutinise inconsistencies across millions of transactions. Information can be accessed and analysed by both local store managers and head office, it also provides reports that support full-scale audits.
Doug Hargrove, chief marketing officer for Torex, said: “Internal losses are crippling many retailers and with the current times proving tough, identifying these losses is especially important to safeguarding profits.
“We are confident that Torex Business Analysis Loss Prevention will lead to significant cost savings for retailers across a large variety of sectors.”