XBR Version 7.0 Expands Behavioral Data Analysis to Pinpoint Exceptions and Broadens Application Reach.
Westboro, MA—February 21, 2011—MICROS-Retail, a division of MICROS Systems, Inc. and leading provider of retail technology for the specialty and general merchandise retail industry, announces the release of XBR® Loss Prevention and Store Analytics version 7.0 and Balance™ Sales Audit version 7.0.
In the loss prevention (LP) realm, retailers are constantly challenged to detect exceptions, understand their causes, and provide swift access to comprehensive, easy-to-understand analytical reports on the impact of those exceptions. Retailers are moving beyond exception based reporting to exception based analysis. Systems that can pinpoint high-risk transactions allow analysts and investigators to focus on true exceptions rather than only statistical outliers. In addition, retailers are looking for ways to manage their universal, growing dependency to better leverage field staff, which requires district and regional personnel to access critical LP information from anywhere. The latest release of XBR – version 7.0 – is designed to help retailers inject advanced analytics, faster access, and greater transparency into store operations.
“We’ve added a number of features and enhancements to XBR to improve the user experience and increase the reach of the application,” says MICROS-Retail Product Manager Scott Matza. “The new report rendering, window management, and capability to link to digital video provide a significant boost to the web client and will help field users and investigators resolve cases faster in today’s retail world.”
XBR’s new Employee Violations Dashboards, or EVDs, offer actionable information to field personnel inside and outside the LP function without requiring deep analysis in XBR. EVDs are employee alert reports that compile key metrics based upon the violation, produce a peer comparison, and display historical activity for the cashier. The pixel-perfect PDF reports, which are automatically distributed via email, also include a description of each key performance indicator (KPI) violation reached, action steps, and a hyperlink to the XBR Web application.
Matza added, “The EVD feature provides a great tool to explain employee alert activity to operational personnel that may not be completely familiar with loss prevention, or to field users that are constantly on the move and do not have time to access XBR directly. It provides the complete picture and presents it clearly in a formatted report that is easily viewed on a mobile device or in printed form.”
To further improve the financial side of the retail business, the latest release of Balance Sales Audit – version 7.0 – has been enhanced to provide greater transparency and expanded audit trail functionality, including query tracking that records each report run by user. “In the audit world, accountability is key. The expanded audit tracking makes each change and acceptance made by auditors transparent,” Matza stated. Additional enhancements were introduced to improve the application’s bank reconciliation module and visibility surrounding data polling. Balance automates much of the sales auditing and correction process, saving hours of research every week and focusing auditors on problems that need attention.
Broadened analysis and reporting
Along with the feature and function additions and enhancements, core XBR retail loss prevention reporting includes queries that focus on common fraud areas such as high-risk refund and exchange transactions, low value sales, employees processing their own transactions, and more. “By expanding the use of behavioral data analysis, the advanced reporting can hone in on high-risk transactions and help reduce the manual review process required by users,” Matza explained.
The reporting reach has increased for foodservice customers as well. “Since the mymicros.net data warehouse already contains so much valuable data, it was easy for us to incorporate additional reporting areas into XBR, such as inventory data and same day reporting. Now users can trend key inventory metrics such as food cost variance and waste as well as produce alerts for high-risk activity taking place on the current business day,” Matza continued. “Users of both XBR and Balance 7.0 will benefit from the new query tracking reports that monitor user productivity, report use, and system performance.”
More information about Balance version 7.0 and XBR version 7.0 is available at www.micros-retail.com/xbr.
MICROS-Retail, formerly Datavantage, CommercialWare, eOne, and Fry, is a global retail solutions company that delivers rich customer experiences by blending world-class strategic consulting and business operations expertise with proven eCommerce, retail store and direct commerce technologies; allowing them to attract, convert and retain valued customers across all interaction channels. In addition to the order management, eCommerce, and point-of-sale products, our solution suite includes CRM, loss prevention, and analytics software, as well as web design and consulting services. Java technology, rich functionality, flexible support, and successful experience in demanding environments explain why hundreds of retailers around the world—such as Carlton Cards Retail, Charming Shoppes, Chico’s, Crate and Barrel, Godiva Chocolatier, IKEA, Jos. A. Bank, The Limited, Payless ShoeSource, Polo Ralph Lauren, Staples, Starbucks Coffee, Talbots, Vera Bradley, and Whirlpool—rely on MICROS-Retail to strengthen their businesses and deliver results.