June 10, 2024

4 Ways to Maximize Your Loss Prevention Efforts with Exception Reports

Damion Piper, Customer Success Manager


In the world of retail and restaurants, keeping losses in check is crucial. Envysion’s Exception Reports, powered by data integration, is your go-to tool for understanding data, spotting insights, and taking action. Let’s see why Exception Reports are essential for reducing and even eliminating losses.


1. Solve Problems Faster with Exception Reports

Envysion’s Reports lets you dive deep into data, watching video footage and transaction receipts side by side as transactions happen. This way, you can view real-time data so you can focus on transactions that mean the most to you. From the main dashboard, view the Risk Snapshot table, which will bring you to a customized report highlighting the top high-risk transactions. The report will provide you with a detailed snapshot of the transaction along with a video of the event. By selecting specific sites, transaction amounts, or even employees you may want to investigate further, you can view the questionable transaction allowing you to solve the problem faster. 


2. Boost Profits and Cut Losses

Envysion’s Reports connect POS data to profits and losses, tracking each transaction against inventory and costs to identify discrepancies and areas for improvement. By selecting My Reports from your Envysion dashboard, you can access detailed template reports created by restaurant and retail customers. The templated reports include transactions, line voids, traffic, discounts, and more. This data helps uncover unauthorized discounts, refund fraud, or register tampering that leads to profit loss. A best practice is to review your Reports on a set schedule, for example – daily or bi-weekly. In addition, it’s highly recommended to set email alerts for high-risk transactions.


3. Create a Safe, High-Performing Environment

Loss Prevention Reports categorize losses into three main types: internal, external, and errors. This gives businesses targeted strategies to mitigate risks and promote accountability. By selecting the Employees section from your Risk Snapshot, monitor potential incidents like “sweethearting” and other irregular/unwanted activities. The transaction report provides video evidence, which you can log into the Incident Management tool to keep a record. This allows store managers to address issues with proper documentation.


4. Get Insights with Custom Loss Prevention Reports

Envysion’s Reports are easily customized to focus on what matters most to you. Whether it’s tracking sales, understanding customer behavior, or managing inventory, custom loss prevention reports give you actionable insights for growth. In the Reports Templates, you can create customized reports and set email alerts for high-risk transactions or events that seem out of line. From the Intelligence tab, you can choose and customize report templates, set alerts on important transactions, view transactions from your mobile device, and adjust reports as your business changes.

Also, we recently refreshed our app dashboard, making it more user-friendly. Check out the new and improved dashboard here.


The Results:

Expert-created templates or customized exception reports have helped retail and restaurant customers spot high-risk transactions efficiently. My customers say that these quick insights help them see the whole picture of what’s really happening at their sites. Here’s a breakdown of the key benefits our loss prevention reports have provided to my retail and restaurant customers:

For Retail Customers:

  • Monitor sales performance
  • Analyze customer behavior
  • Track inventory levels
  • Streamline operations and supply chains
  • Improve customer engagement and loyalty

For Restaurant Customers:

  • Track sales trends
  • Monitor food costs
  • Analyze menu performance
  • Identify trends for menu optimization
  • Boost profitability through deeper insights


Don’t just take my word for it, hear from Senior Manager of Field Asset and Risk Prevention, Chris Magana, as he shares why our exception reports is his #1 feature on the Envysion app:


Exception Reports for Better Data Management

Envysion’s Exception Reports offer the tools you need to manage your data and reduce losses. As your Envysion Customer Success Manager, I’m here to support you at every step. Let’s work together to achieve your goals and effectively use Envysion’s technology.

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