A complete guide to exception-based reporting

Exception-based reporting (EBR) is useful for retail and quick service restaurant (QSR) businesses. Effective EBR tools can support loss prevention teams and improve profit margins.

In an industry where loss prevention can significantly affect your bottom line and reduce losses, EBR is critical. A study from the National Retail Federation found that inventory shrinkage alone cost the retail industry over $61 billion annually. Learn about the value of exception-based reporting below.

What is Exception-Based Reporting?

Nearly every restaurant and retail store have a digital (POS) point-of-sale system for accepting customer payments. POS software is a rich source of business data that can identify when a POS transaction took place, which employee helped complete a transaction, and the type of payment method used.

Exception-based reporting is a process of data analysis that reviews a set of data, including a series of transactions, and identifies outliers. These outliers can be positive – perhaps one sales associate is outperforming their peers, or they can be negative, indicating that a staff member is using a POS system incorrectly or even stealing from the company.

Exception-Base Reporting Case Study

One case study of a QSR restaurant that wanted to improve its security and reduce its sales costs. By adapting DTiQs software and real-time exception-based reporting, they improve their shrinkage, improve security systems, and reduce sales costs.

The use of remote surveillance cameras to monitor the store and exception-based reporting allowed the QSR Restaurant to identify employee productivity. To the point that after DTiQ’s system was installed, this particular they were able to improve its shrinkage by fifty percent.

Benefits of EBR Systems

Even the most careful businesses can experience some level of shrinkage and internal theft. Exception-based reporting is a critical component of asset protection and a good loss prevention strategy. Businesses can use EBR for a variety of purposes:

  • Identify training gaps: After reviewing transaction data, retailers may find a discrepancy is simply the result of staff error. For example, an employee might be categorizing an item incorrectly or applying a discount to an item that doesn’t qualify. With good reporting, managers can find where staff are making mistakes and re-train them to prevent future errors.
  • Catch internal theft: Employee theft can be a major issue at both restaurants and shops. Staff members may abuse loyalty programs, steal from shared tips, or void transactions and pocket the difference. POS exception reporting can catch unusual activity – such as a high number of voided transactions during a specific employee’s shift.
  • Improve your bottom line: Without an exception-based reporting tool, you would need to review transaction data by hand to identify mistakes and fraud. This would be a significant labor cost – and you might still miss the warning signs of internal theft. With EBR, you have access to data analytics that helps improve your profit margins.
  • Enhance customer experience: Exception-based reporting loss prevention software is even more powerful when combined with intelligent video surveillance. You can monitor how employees are interacting with customers, measure engagement, track customer paths, and find areas for improvement

Take Advantage of DTiQ’s Powerful Analytics

Of course, exception-based reporting isn’t without its challenges. With so much data to sift through, many managers don’t have time to review daily reports from POS systems. This is where advanced analytics and reporting for POS data come into play.

By integrating an intelligence platform with your POS system, like DTiQ’s SmartAudit you can corroborate POS line items with employee behavior to reduce shrinkage and identify training needs. DTiQ’s exception reporting software will alert you to suspicious transactions and allows you to verify transactions through high-quality audio and video surveillance.

Learn More about DTiQ’s Solutions

DTiQ has helped plenty of other national and international establishments with our integrated video, auditing, and analytics tools. Our case studies show us how our solutions have helped establishments like Domino’s Pizza, Subway, 7-Eleven, and more.

For pricing information and more details on our customized solutions, book a demo with DTiQ today.

Download the E-Book
By clicking “Download" below, you give your permission for DTiQ to store and process the personal information you've provided above in order to deliver the requested content.
Thank you! Your download will start soon.
Oops! Something went wrong while submitting the form.
File button
Articles

A complete guide to exception-based reporting

Exception-based reporting (EBR) is useful for retail and quick service restaurant (QSR) businesses. Effective EBR tools can support loss prevention teams and improve profit margins.

In an industry where loss prevention can significantly affect your bottom line and reduce losses, EBR is critical. A study from the National Retail Federation found that inventory shrinkage alone cost the retail industry over $61 billion annually. Learn about the value of exception-based reporting below.

What is Exception-Based Reporting?

Nearly every restaurant and retail store have a digital (POS) point-of-sale system for accepting customer payments. POS software is a rich source of business data that can identify when a POS transaction took place, which employee helped complete a transaction, and the type of payment method used.

Exception-based reporting is a process of data analysis that reviews a set of data, including a series of transactions, and identifies outliers. These outliers can be positive – perhaps one sales associate is outperforming their peers, or they can be negative, indicating that a staff member is using a POS system incorrectly or even stealing from the company.

Exception-Base Reporting Case Study

One case study of a QSR restaurant that wanted to improve its security and reduce its sales costs. By adapting DTiQs software and real-time exception-based reporting, they improve their shrinkage, improve security systems, and reduce sales costs.

The use of remote surveillance cameras to monitor the store and exception-based reporting allowed the QSR Restaurant to identify employee productivity. To the point that after DTiQ’s system was installed, this particular they were able to improve its shrinkage by fifty percent.

Benefits of EBR Systems

Even the most careful businesses can experience some level of shrinkage and internal theft. Exception-based reporting is a critical component of asset protection and a good loss prevention strategy. Businesses can use EBR for a variety of purposes:

  • Identify training gaps: After reviewing transaction data, retailers may find a discrepancy is simply the result of staff error. For example, an employee might be categorizing an item incorrectly or applying a discount to an item that doesn’t qualify. With good reporting, managers can find where staff are making mistakes and re-train them to prevent future errors.
  • Catch internal theft: Employee theft can be a major issue at both restaurants and shops. Staff members may abuse loyalty programs, steal from shared tips, or void transactions and pocket the difference. POS exception reporting can catch unusual activity – such as a high number of voided transactions during a specific employee’s shift.
  • Improve your bottom line: Without an exception-based reporting tool, you would need to review transaction data by hand to identify mistakes and fraud. This would be a significant labor cost – and you might still miss the warning signs of internal theft. With EBR, you have access to data analytics that helps improve your profit margins.
  • Enhance customer experience: Exception-based reporting loss prevention software is even more powerful when combined with intelligent video surveillance. You can monitor how employees are interacting with customers, measure engagement, track customer paths, and find areas for improvement

Take Advantage of DTiQ’s Powerful Analytics

Of course, exception-based reporting isn’t without its challenges. With so much data to sift through, many managers don’t have time to review daily reports from POS systems. This is where advanced analytics and reporting for POS data come into play.

By integrating an intelligence platform with your POS system, like DTiQ’s SmartAudit you can corroborate POS line items with employee behavior to reduce shrinkage and identify training needs. DTiQ’s exception reporting software will alert you to suspicious transactions and allows you to verify transactions through high-quality audio and video surveillance.

Learn More about DTiQ’s Solutions

DTiQ has helped plenty of other national and international establishments with our integrated video, auditing, and analytics tools. Our case studies show us how our solutions have helped establishments like Domino’s Pizza, Subway, 7-Eleven, and more.

For pricing information and more details on our customized solutions, book a demo with DTiQ today.

Articles
Speakers
Share
Or simply highlight text to share

A complete guide to exception-based reporting

Posted
October 19, 2023
by
Katie McCann
Share
In This Article
Subscribe
Get a weekly newsletter with resources, tools, and articles personalized to your business.
Build your DTiQ Weekly
See how DTiQ can transform your multi-location operations.
Book a demo

Exception-based reporting (EBR) is useful for retail and quick service restaurant (QSR) businesses. Effective EBR tools can support loss prevention teams and improve profit margins.

In an industry where loss prevention can significantly affect your bottom line and reduce losses, EBR is critical. A study from the National Retail Federation found that inventory shrinkage alone cost the retail industry over $61 billion annually. Learn about the value of exception-based reporting below.

What is Exception-Based Reporting?

Nearly every restaurant and retail store have a digital (POS) point-of-sale system for accepting customer payments. POS software is a rich source of business data that can identify when a POS transaction took place, which employee helped complete a transaction, and the type of payment method used.

Exception-based reporting is a process of data analysis that reviews a set of data, including a series of transactions, and identifies outliers. These outliers can be positive – perhaps one sales associate is outperforming their peers, or they can be negative, indicating that a staff member is using a POS system incorrectly or even stealing from the company.

Exception-Base Reporting Case Study

One case study of a QSR restaurant that wanted to improve its security and reduce its sales costs. By adapting DTiQs software and real-time exception-based reporting, they improve their shrinkage, improve security systems, and reduce sales costs.

The use of remote surveillance cameras to monitor the store and exception-based reporting allowed the QSR Restaurant to identify employee productivity. To the point that after DTiQ’s system was installed, this particular they were able to improve its shrinkage by fifty percent.

Benefits of EBR Systems

Even the most careful businesses can experience some level of shrinkage and internal theft. Exception-based reporting is a critical component of asset protection and a good loss prevention strategy. Businesses can use EBR for a variety of purposes:

  • Identify training gaps: After reviewing transaction data, retailers may find a discrepancy is simply the result of staff error. For example, an employee might be categorizing an item incorrectly or applying a discount to an item that doesn’t qualify. With good reporting, managers can find where staff are making mistakes and re-train them to prevent future errors.
  • Catch internal theft: Employee theft can be a major issue at both restaurants and shops. Staff members may abuse loyalty programs, steal from shared tips, or void transactions and pocket the difference. POS exception reporting can catch unusual activity – such as a high number of voided transactions during a specific employee’s shift.
  • Improve your bottom line: Without an exception-based reporting tool, you would need to review transaction data by hand to identify mistakes and fraud. This would be a significant labor cost – and you might still miss the warning signs of internal theft. With EBR, you have access to data analytics that helps improve your profit margins.
  • Enhance customer experience: Exception-based reporting loss prevention software is even more powerful when combined with intelligent video surveillance. You can monitor how employees are interacting with customers, measure engagement, track customer paths, and find areas for improvement

Take Advantage of DTiQ’s Powerful Analytics

Of course, exception-based reporting isn’t without its challenges. With so much data to sift through, many managers don’t have time to review daily reports from POS systems. This is where advanced analytics and reporting for POS data come into play.

By integrating an intelligence platform with your POS system, like DTiQ’s SmartAudit you can corroborate POS line items with employee behavior to reduce shrinkage and identify training needs. DTiQ’s exception reporting software will alert you to suspicious transactions and allows you to verify transactions through high-quality audio and video surveillance.

Learn More about DTiQ’s Solutions

DTiQ has helped plenty of other national and international establishments with our integrated video, auditing, and analytics tools. Our case studies show us how our solutions have helped establishments like Domino’s Pizza, Subway, 7-Eleven, and more.

For pricing information and more details on our customized solutions, book a demo with DTiQ today.

THE AUTHOR
Katie McCann
Manager, Content & Communications
Meet Katie, the creative force behind content and communications for DTiQ. When she's not at work, you'll find her soaking up the great outdoors with her four-legged sidekick or breaking it down in a spin class. But it's not all hustle – she knows how to kick back and enjoy some quality time with her friends, especially when there's charcuterie involved.

Transform your operations today