We are so honored that Oncam, alongside partner Video Analysis Solutions (VAS), received double the recognition from the Retail Risk Fraud Awards 2017! Oncam and VAS were named the winners of the Most Innovative In-store Solution for their Live Customer Occupancy Watch platform and received a “highly commended” recognition for their one box video surveillance solution in the Most Innovative In-store Surveillance Solution category.
The Retail Risk Conference brings together leading retailers, academics, loss prevention managers and solution providers to present their latest insights, case studies and technological breakthroughs, promote thought leadership and establish best practices in risk management.
Each year as part of the conference, the Fraud Awards highlight advanced technologies, programs, teams and services designed to reduce retail fraud and enhance loss prevention efforts. Submissions are judged by leading retailers across the globe, including representatives from Amazon, adidas, JD Sports Fashion, Cotton On Group, McDonald’s and more.
Oncam and VAS were awarded for their joint effort to provide a holistic approach to customer-based analytics using Oncam’s award-winning, 360-degree surveillance solutions and VAS analytics software. VAS builds customized solutions based on 360-degree video and video analytics to address loss prevention, customer service and store operations.
The Live Customer Occupancy Watch platform uses captured video to determine customer conversion rates, high-traffic areas and customer-to-employee ratios; information that is used to boost customer service, optimize store operations and increase sales. The result is a solution that provides video surveillance along with key business intelligence capabilities that many retailers demand in an effort to deliver significant ROI on their investment in video infrastructure.
The one box video surveillance solution can implement a myriad of services, including customer counting and staff alerts, customized reporting applications, POS transaction searching, 100 percent video surveillance coverage with remote access and more. This solution benefits retail operations and loss prevention by enabling stores to meet and even exceed their customer service targets and allowing rapid investigation of incidents, reducing the requirement for live monitoring.
According to the annual National Retail Security Survey, retail shrink increased to $48.9 billion in 2016 from $45.2 billion in 2015, indicating the seriousness of retail theft and necessity for innovative technologies. Oncam’s partnership with VAS demonstrates the ability to go beyond video to bring a complete picture of store operations to users’ fingertips. Their solutions provide users with the tools to enable fast, informed and smart decisions, and help users create reports to improve store operations, cut unnecessary costs and ultimately increase sales.
Congratulations to the entire team on the award wins!