Appriss Retail, a leading provider of data and analytics solutions designed to reduce retail losses, decrease returns, and provide a more seamless consumer experience, today announced the launch of Workbench, a new feature that enables diverse business users to proactively identify and address fraud.
According to the 2023 National Retail Security Survey, the retail industry lost over $112 billion to retail crime including shrink, theft, organized retail crime, and returns fraud in 2022. In response to the growing problem, retailers are demanding more control over loss prevention strategies and are looking to implement leading tools quicker than ever before.
In response, Appriss Retail developed Workbench to offer a user-friendly dashboard that helps a variety of business users across departments pinpoint the situations, people, places, products, and processes that need attention. By allowing these users to access more than just reporting functions, they are empowered to proactively identify fraud, reduce losses, and ensure a secure shopping environment for customers.
With Workbench, Appriss Retail customers benefit from heightened operational efficiency and shorter time-to-value. They also gain access to:
- Early Detection: Leveraging AI and machine learning, Workbench enables the early identification of negative trends that will negatively affect profits, allowing for early intervention that minimizes financial losses and preserves businesses’ reputations.
- Comprehensive Dashboards: The intuitive dashboard presents prioritized lists of potentially fraudulent incidents, highlighting those that require immediate attention based on severity and impact.
- Actionable Insights: Workbench guides decision-making and streamlines loss mitigation efforts.
“Retail fraud happens fast, but with Workbench, we’re finding our customers can address it even faster than before,” said Amy Wilson, chief product officer, Appriss Retail. “By putting this advanced functionality in our customers’ hands, they can ensure fraud never slips under the radar, maintaining profits and protecting their businesses.”
As new trends in fraud prevention arise, Appriss Retail is committed to updating its solutions to continuously offer best-in-class fraud prevention technology that reduces shrink, improves inventory visibility, and boosts profits. Workbench takes this commitment to the next level by encouraging users to take a closer look at the historical data and behaviors impacting their specific business.
Retailers can learn how to take loss prevention strategies into their own hands quickly and effectively with Appriss Retail’s Workbench by visiting www.apprissretail.com.
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