Stuttgart-based fashion and lifestyle company opts for business analytics and loss prevention compliance

Stuttgart-based fashion and lifestyle company opts for business analytics and loss prevention compliance

E. Breuninger, a fashion and lifestyle company based in Stuttgart, has become the first retail chain to introduce a new business analytics and loss prevention product to the German market.

Breuninger made the strategic decision to introduce Torex Business Analytics and Torex Loss Prevention – an integrated suite of solutions for business data analysis and loss prevention from provider Torex. The company expects the broad functional range of the solution to further improve the transparency of and ability to audit its business processes. The solution went live in July 2010, and is mainly being used by the internal auditing and inventory departments. Additional user groups can be added at any time, including the point-of-sale (PoS) or accounting department, all of which stand to benefit from using the analysis data delivered by the new Torex product for their own purposes.

Granular visibility of issues

The Torex solution has been designed to enable Breuninger to analyse all PoS data – from the item master through to sales transactions – and thus improve transparency throughout the entire company. This affords the established company with comprehensive protection against deviations in payment processing workflows, including organisational irregularities and inefficiencies or even fraudulent transactions. Identifying such activities will help Breuninger to reduce losses in time and money and, just as important, to also prevent loss of customer trust, inventory deviations and credit card fraud, according to the provider.

With Torex Business Analytics the company can meet German principles on data access and the ability to audit digital documents (GDPdU) and other compliance provisions, representing a major milestone in extending internal control structures. One of the core demands of Breuninger is to attain audit-compliant business processes. The Torex product suite provides the company with a tool to tap into this information and achieve the level of transparency prescribed by law.

Breuninger installed Torex Business Analytics on its own server, which receives updated transaction data from all stores on a daily basis. This allows the company to perform extensive analyses on this data, which can even reach back many years.