Enabler Wipro, an international IT and business services company, and IntelliQ, a leading provider of comprehensive profit protection solutions to the retail sector, have formed an alliance to assist retailers to focus on all business areas to prevent loss due to fraud, theft, and non-complying procedures as well as improve operational efficiency.
The two companies have formed this alliance because they have proven that loss prevention projects demonstrate a rapid and high return on investment in systems that can spot incidents of theft and error at the point of sale by analysing EPOS transaction data.
While retail shrinkage is defined as losses from a range of sources, it is theft, mainly shoplifting that most research continues to focus on. However, the Centre for Retail Research in their annual European Retail Theft Barometer said that in 2005 European retailers attributed 45% of their overall shrinkage to employee theft and fraud as well as internal error, process failures and pricing mistakes. The average shrinkage suffered by stores throughout Western Europe was 1.25% of turnover.
Enabler Wipros role as a solutions provider will be to assist retailers to get maximum benefit from IntelliQs RetailKey LP software, by mapping management processes, determining the ideal people resources and ensuring that technology is effectively deployed.
Mike Davies, Enabler Wipro General Manager - European Retail Services, said, 1.25% when expressed as lost profits can be as high as 20%, so there are clearly huge benefits to be derived from tackling loss head on. We see our role as making it easy for retailers to get started with this solution and get business benefits as quickly as possible.
Simon Grant, CEO of IntelliQ, said, We are delighted to be working with Enabler Wipro as this will give us the opportunity to extend our footprint in the European market. He further explained: Our loss prevention application enables retailers to identify losses at the Point of Sale and prevent them, with a fast and proven return on investment. We have considerable experience of delivering sustainable results to leading retailers such as B&Q, Bhs, John Lewis Partnership, Carphone Warehouse and Lloyds Pharmacy.
About Enabler Wipro
Enabler Wipro is an international IT and business services company that delivers measurable value to the worlds best-known retailers. The company works with retailers on their business and IT transformation programmes to achieve competitive advantage.
Enabler Wipros knowledge, retail and IT experience help retailers reduce risk when deploying critical projects. With an increasing worldwide presence, the company has over 300 employees and reached a turnover exceeding 30 million in 2005.
Enabler Wipro is proud to serve leading international retailers and wholesalers including Tesco, Nisa-Todays, Sonae, AVA, Esprit and Despar.
In 2006 Enabler became a part of Wipro Technologies, a division of Wipro Limited (NYSE:WIT), the first PCMM Level 5 and SEI CMM Level 5 certified IT Services organization globally. Wipro is one of the largest product engineering and support service providers worldwide. Wipro provides comprehensive research and development services, IT solutions and services, including systems integration, Information Systems outsourcing, package implementation, software application development and maintenance services to corporations globally.
In the Indian market, Wipro is a leader in providing IT solutions and services for the corporate segment in India offering system integration, network integration, software solutions and IT services. Wipro also has profitable presence in niche market segments of consumer products and lighting. In the Asia Pacific and Middle East markets, Wipro provides IT solutions and services for global corporations. Wipro's ADS are listed on the New York Stock Exchange, and its equity shares are listed in India on the Stock Exchange - Mumbai, and the National Stock Exchange.
IntelliQ is a leading provider of comprehensive profit protection solutions to the retail sector. Our experience helps clients protect and grow profits through the cost-effective analysis of transaction data from multiple sources.
Headquartered in the UK, IntelliQ has been helping both private and public sector organisations for over 10 years, delivering rapid and sustainable ROI. RetailKey LP has been used extensively in retail, notably at Argos, B&Q, Bhs, Carphone Warehouse, John Lewis Partnership and Lloyds Pharmacy,where significant RoI was achieved well within the first year. RetailKey LP is rapidly deployed and requires minimal maintenance. Its ease of use and ability to adapt to the ever-changing patterns of loss leads to increased operational effectiveness and supports the growth of a culture of loss elimination.