CAMBRIDGE -- IntelliVid Corporation, the leader in intelligent video analysis software for retail loss prevention, today announced that a leading fashion-oriented department store has chosen its Video Investigator™ software to transform the retailer's existing closed-circuit television (CCTV) systems into a solution that enhances the shopping environment and pro-actively reduces inventory losses.
Video Investigator increases the value of this and other retailers' existing CCTV systems, enabling them to take an active role in preventing theft, rather than just recording it. The retailer selected Video Investigator after extensively testing and evaluating its capabilities under rigorous in-store conditions in multiple departments. Without exception, the product met or exceeded all of the criteria established, including the ability to detect potential losses that would otherwise be missed, and to track suspects across multiple cameras.
The retailer easily integrated the system into its existing CCTV infrastructure. Store loss prevention (LP) personnel now rely on Video Investigator's patented Intelligent Video Analysis (IVA) technology for several critical loss prevention activities, including tracking suspects and assets and monitoring high-value merchandise. These new capabilities are already improving the retailer's bottom line. In areas protected by Video Investigator, shrink has decreased by as much as 45%. The retailer reports that customers are satisfied because it has increased the use of open merchandising, enhancing the shopping experience.
The retailer is employing the Video Article SurveillanceTM feature, which automates the monitoring of select high-value merchandise and alerts LP personnel to possible theft incidents, freeing them to focus on other loss prevention activities.
"We're putting systems in place to watch much of the merchandise that professional thieves seek out," said Dr. Patrick Sobalvarro, president and CEO of IntelliVid. "The CCTV system is now doing much more for the store, enabling the LP team to spend more time out on the sales floor working with store associates to provide better customer service. We're gratified to be able to help our customers put both video and human assets to more effective use."
About Intellivid (www.intellivid.com)
Founded in 2002, IntelliVid provides intelligent video analysis solutions to large retailers faced with profit-consuming shrink. Its Video Investigator software unleashes the full potential of closed-circuit TV systems enabling loss prevention professionals to identify theft incidents quickly, gather critical video evidence and manage case investigations efficiently. Unlike digital video recorders, which merely record thefts, Video Investigator monitors high-loss items and instantly identifies theft incidents automatically using limited staff and existing video systems. The patented technology also enables retailers to track customer traffic, detect out-of-stocks, identify safety issues, and more.
Headquartered in Cambridge, Massachusetts, IntelliVid is backed by Egan Managed Capital and Flagship Ventures. Its customers include a leading drug store chain, major department store and top discount retailer.