FOR IMMEDIATE RELEASE
Footwear retailer addresses fraud and loss prevention with FraudWatch, powerful Web-based system
Toronto - November 6, 2001 - Triversity Inc., a leading software provider delivering multi-channel, customer-centric solutions for the retail industry, announced today it has been selected by Town Shoes and its affiliate retail outlets to implement Triversity`s FraudWatch, an active loss prevention reporting and analysis solution.
Triversity`s FraudWatch offers a comprehensive fraud detection and loss prevention system that operates at the point-of-sale (POS). FraudWatch will protect Town Shoes against shrinkage at the POS caused by employee and customer fraud and non-compliance with operational procedures. Town Shoes has implemented FraudWatch on an ASP basis, ensuring a fast implementation and immediate return on investment with minimal risk.
Implementing FraudWatch was a natural progression for Town Shoes, as the company has previously successfully installed three Triversity retail technology solutions: Virtual Store, an e-commerce solution that provides one common infrastructure across all points of interaction with the customer; Transactionware, a highly configurable point-of-sale (POS) software application; and Transnet, a multi-platform file and message transfer solution.
"By leveraging the existing infrastructure, FraudWatch will improve Town Shoes` bottom line by providing us with the ability to track employee fraud and non-adherence to corporate policies quickly and cost effectively," said Peter Gerhardt, Chief Financial Officer, Town Shoes. "We have had a track record of success with Triversity solutions and seen a rapid return on investment with its products. Triversity has proven itself to be an experienced and trusted technology partner."
FraudWatch`s specialized data mining capabilities identify sources of revenue loss at the POS by monitoring every keystroke, providing up-to-the minute automated alerts, reports and analysis to loss prevention personnel. In addition, the browser-based application ensures access to vital information from any location, at any time.
"The effects of shrinkage can have a dramatic impact on bottom line results in the retail industry," said David Thomas, president and CEO, Triversity Inc. "FraudWatch enables Town Shoes to reduce shrinkage by monitoring fraud and pinpointing problems immediately, ensuring a rapid payback."
About Town Shoes
Canadian shoe retailer Town Shoes Limited, founded in 1952, operates under the Town Shoes and The Shoe Company banners. Town Shoes offers women`s fashion footwear in a full service environment. The Shoe Company offers brand name family footwear at up to 50 per cent off the suggested retail price, in a bright, clean and pressure-free superstore environment. The Shoe Company operates outlets all across the country. Customers can also shop online at http://www.theshoecompany.com.
About Triversity Inc.
Triversity is a leading software provider delivering integrated multi-channel, customer-centric solutions for the retail industry. By integrating market-leading Point-of-Sale/Point-of-Interaction (POS/POI) applications with intelligent retail customer relationship management (CRM) solutions, Triversity allows retailers the capability to offer a consistent shopping experience across all channels, all the time, and enables them to easily and effectively manage the customer lifecycle on a one-to-one basis. The company`s TAP model enables retailers to Transact with their customers; Analyze their market baskets and customer data; and, deliver Personalized marketing programs and incentives across all channels of distribution. Triversity also offers active loss prevention reporting and analysis, providing a comprehensive fraud detection solution that protects retailers against revenue loss due to employee theft or non-compliance to corporate policies and procedures.
Triversity`s retail solutions are installed in over 350 retailers in 32 countries. Retail clients include the U.S. Army and Air Force Exchange Service (AAFES), Discovery Channel, Dylex Limited, Hallmark, Pep Boys, Provigo, Rite Aid, The Shoe Company, Staples Canada, The Sports Authority, Wawa, White Rose Nurseries and Williams-Sonoma. Triversity is headquartered in Toronto, with regional offices in Philadelphia, Dallas, Mexico City and Sydney. For more information, please visit http://www.triversity.com.
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For more information:
Greg Bandler
Triversity Inc.
(416) 791-7109
gbandler@triversity.com
Anita Wong
Strategic/Ampersand
(416) 961-5595, ext. 431
anita@stratamp.com
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