The Retail Risk Innovation in Risk Management Award

Appriss Retail’s Secure, Engage and Incident Solutions Receive Key Upgrades in 2024

Appriss Retail

Appriss Retail enables profit-saving measures for over 150,000 retail locations across 45 countries and six continents, including some of the largest, name-brand global retailers in the United States, Europe, and Australia. The company’s solutions, Secure, Engage, and Incident, protect retailers against fraud and abuse for every transaction, no matter where it happens, by providing relevant, actionable, and profitable collective intelligence to retail operations, finance, marketing, and loss prevention teams.

Over the past year, Appriss Retail has brought to market several innovative products and initiatives that have strengthened retailers’ risk management and loss prevention efforts.

Incident + ORC Intelligence: A Breakthrough in the Fight Against ORC

Shrink, including theft and organised retail crime (ORC), is a $112 billion issue for retailers. As organisations seek precise and aggressive tools to tackle the problem, Appriss Retail introduced Incident + ORC Intelligence, a breakthrough solution to the market in September 2024. The module utilises cutting-edge technology to automatically link incidents of theft, fraud, and abuse, enabling the seamless creation of comprehensive cases to help dismantle ORC syndicates effectively.

Incident + ORC Intelligence uses generative AI to summarize linked incidents of criminal activity. It also identifies related incidents based on the suspect, narrative, vehicle, and other case information, assisting the investigative process. Unlike publicly available generative AI tools, Incident + ORC Intelligence was purpose-built for the unique challenges of retail loss prevention and fills a gap in how law enforcement works with retailers on cases of ORC. With Incident + ORC Intelligence, retailers can seamlessly provide law enforcement with detailed and actionable case files, including photos and evidence collected during the investigation, to help build a stronger case.

Secure: Helping Retailers Do More With Less

Another Appriss Retail solution, Secure, leverages predictive analytics to quickly identify trouble spots within a retailer’s operations and provide actionable insights to address fraud, theft, and shrink. With Secure, retailers gain a comprehensive view of in-store and online operations, enabling an omnichannel view to prevent loss, optimise inventory management, and streamline business processes. Customers using Secure have seen a significant 9% reduction in sales-reducing activities and shrink, and a 14% decrease in discount/promotion abuse.

Secure is not limited to shrink reduction, however; it extends its capabilities to monitor KPIs and metrics for stores and cashiers. The platform identifies areas of internal risk and loss, enabling retailers to make informed decisions that enhance their operations. Secure seamlessly integrates with business intelligence dashboards, allowing retailers to visualize and act upon their data easily.

In January 2024, Appriss Retail announced a Secure Workbench add-on that further enables diverse business users to proactively identify and address fraud. With Workbench’s user-friendly dashboard, retailers can more easily pinpoint the situations, people, places, products, and processes that need attention, empowering proactive risk management, fraud identification, streamlined loss prevention and the creation of secure shopping environments for consumers.

Engage: Real-Time Profit Protection

Engage equips retailers with real-time protection by delivering behavior-based recommendations across touchpoints, from in-store to online and call centres. By analysing transaction data, Engage ensures a consistent and personalised experience for consumers during the purchase, return, and claims processes. This leads to increased profits for the retailer while providing loyal customers with a positive returns experience and effectively deterring returns fraud and abuse. Retailers using Engage have realised an 8.2% reduction in total return dollars, amounting to millions in bottom-line savings.

A testament to the success of this innovative solution portfolio and timely product launches Appriss Retail has brought on several leading brands and retailers as customers this year, including a launch into the Australian market. The company expanded its global operations with the announcement that Officeworks, a leading Australian office supply store chain, selected Appriss Retail’s Secure solution to reduce shrink. Officeworks chose Appriss Retail for its highly recognised ability to protect online and in-store transactions from theft, fraud, ORC, claims, appeasements, and more. Appriss Retail also lists Myer, Australia’s largest department store chain, as a customer in the region alongside Target, Kmart, and Coles.

Appriss Retail’s omnichannel intelligence platform not only addresses critical issues like shrink reduction and returns fraud, but it also empowers retailers to make data-driven decisions to maximize profitability and enhance their risk management. Appriss Retail’s dedication to innovation positions it as the best choice for retailers looking to thrive in today’s ever-changing retail landscape.

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