Alex Jazayeri, CEO Today, retailers need to arm themselves against an ever-increasing risk of fraud stemming from both internal and external sources. The antiquated approaches of investigation where loss prevention teams have to visit stores and manually check transactions and receipts are no longer feasible.
With over two decades of experience in theft identification, IntelliQ helps its clients leverage an intelligence-led approach to investigating, detecting and preventing invisible internal fraud, external theft, and poor procedural compliance. “Our forensically-minded analytics platform thinks like an investigator – enabling loss prevention teams to quickly identify sources of fraud and the root causes of shrinkage," says Alex Jazayeri, CEO at IntelliQ. “Furthermore, IntelliQ also helps its customers bridge the gap between their e-commerce platforms and brick-and-mortar stores. Our joined-up analytics capability ensures retailers close the loop on fraud risks that can emerge in the gaps between omni-channel operations."
With IntelliQ’s easy-to-use and intuitive analytics platforms, clients can quickly and easily identify loss and fraud at a granular level. They can locate suspicious systematic behaviour in cashiers, automatically investigate the specific activities and distribute the case reports to the right people in the organization at the right time. The user-configurable dashboards also ensure that CIOs need not hire additional resources to help with setting up and changing their reporting needs.
Our forensically-minded analytics platform thinks like an investigator – enabling loss prevention teams to quickly identify sources of fraud and the root causes of shrinkage
“The users can themselves generate a variety of automated reports for investigating fraud and are limited only by their own imagination,” adds Gareth Davies, Business Development Director at IntelliQ. By training their clients and providing comprehensive technical support, the company also ensures that their clients can understand and identify new patterns of fraud occurring within their business.
“The way that we approach loss prevention analytics is also completely unconstrained,” explains Davies. “Our unique capability to traverse through multiple layers of high-volume transactional data provides loss prevention teams with maximum flexibility, and a nimble, automated solution for detecting and deterring hidden losses.” Furthermore, the platform adds intelligence to the incoming data to enrich reports and simplify fraud investigations.
IntelliQ offers their prospective clients a free-of-cost and unique Data Challenge wherein they analyze 90 days’ worth of transaction data, building a proof of concept system and specifying exactly where the ROI will be generated.
IntelliQ also benchmark the areas where fraud and risk exists in their client’s business against industry averages so that a complete picture emerges of how their operations can be improved, and demonstrating the ongoing benefits that can be rapidly generated by adopting IntelliQ.
With its comprehensive fraud protection solution, IntelliQ has been able to garner a customer base of around 60 clients globally, spanning all retail sectors and including market giants such as the AS Watson Group, The Body Shop, Burberry, JD Sports, Circle K, John Lewis, Merlin Entertainment, Primark and Pret a Manger to name just a few. In terms of customer case studies, Davies recalls an instance wherein a global apparel chain contacted IntelliQ to help them replace an existing outdated fraud reporting system and also run their investigations and loss prevention reporting in a multi-currency and multilingual environment. Merely with the implementation of the system and the automation of gift-wrapped fraud reports, the client was able to yield a significant and sustainable ROI. These returns were further boosted by detecting and eliminating fraud and procedural weakness across their entire global operations.
In addition, IntelliQ boasts of an expert team with unparalleled domain expertise in loss prevention fraud analytics, having provided pioneering train-of-thought and link analysis techniques to the retail sector for many years.
IntelliQ also partners with numerous leaders in the Loss Prevention industry in order to bring its services to customers as part of a comprehensive security system. Most recently, IntelliQ has announced a new strategic partnership with Spearpoint Security Group based in the APAC region, in order to develop a one-stop-shop solution for fraud detection, identification, and elimination that is tailor-made to meet the needs of retail clients within APAC specifically.
