Fraud and loss prevention
Customer theft and staff fraud at the register are the biggest contributors to shrinkage, making a considerable dent in retailer margins. In 2019, shrink was estimated to have cost retailers an eye watering 1.62% of revenue. In Australia the cost was $2.5B and, in the USA, $61B.
Even though CCTV is collecting thousands of hours of footage every day, loss prevention teams can never review it all to identify theft and fraud incidents.
Using advanced AI video analysis and POS data integration, Beehive Sting automatically detects high risk transactional behavior, highlighting possible cash register fraud evidence for assessment and providing real-time analysis and alerts for self-checkout discrepancies.