Swedish tech company, Extenda Retail, is shaking up the FMCG retail sector with its innovative Self-Service and Loss Prevention (SSLP) system. This solution, which is applicable to any Point Of Sale system, aims to address the challenging global problem of shrinkage, which is estimated to be worth more than $100 billion.
The SSLP package is designed to increase the efficiency of store employees while reducing operational costs and boosting customer loyalty. It works by utilizing the latest machine learning (ML) technologies to detect suspicious behaviour and to improve accuracy when it comes to basket audits and rescans, as well as integrating with camera AI technology. This technology also allows for a personalised customer experience.
Thomas Staven, Chief Product Officer of Extenda Retail, spoke highly of the SSLP package: “We’ve infused AI and machine learning technology within our Self-Service Loss Prevention offering to both protect the bottom line of retailers, as well as delight customers”.
Established over 40 years ago, Extenda Retail is an industry leader in retail software development. Their extensive portfolio of solutions and services include Hii Retail Cloud Retail Software, POS and Checkout, WMS, Customer Intelligence & Loyalty, and Pharmacy Software. The company has helped to revolutionise the retail industry by serving hundreds of retail chains in over 37 countries.
Carolin Jaques, Marketing Director of Extenda Retail, said: “We strive to develop efficient, game-changing software to help retailers grow their business and heighten the customer experience”. By addressing the implications of self-service retail, Extenda Retail is paving the way for a future of streamlined and secure retail.
