Agilence Cited in Independent Breakout Vendors: Industry-Specific Insights Service Providers Report

Posted by Adam Creamer on Nov 8, 2016 10:12:00 AM

Leader in data analytics for loss prevention and operations profiled as Food and Beverage Insights Service Provider in report.

MOUNT LAUREL, NJ—November 08, 2016 – Agilence, Inc., the leader in cloud-based data analytics for loss prevention and retail and restaurant operations, today announced that it was cited in the October 2016 Forrester Report, Breakout Vendors:  Industry-Specific Insights Service Providers.  Agilence was included in the food and beverage vertical among industry-specific insights solutions providers who were noted for their ability “to help firms within their market get actionable insights and tangible business value.”

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Topics: Press Room

3 Easy Ways to Improve Sales and Profits

Posted by Maddy Moyer on Nov 3, 2016 10:09:00 AM

As we near the holiday season, businesses everywhere are ordering inventory, stocking the shelves, and hiring seasonal staff to prep for the rush of shoppers that awaits. According to the National Retail Federation, 2016 Holiday sales are projected to rise 3.6% this year and, for many stores, the holiday season from November to December can represent as much as 30% of their annual sales. As a business owner, you want to capitalize on this opportunity but you don’t want to go over budget by investing in unnecessary holiday expenditures. Here are 3 tips we have for you so that you can make the most of this holiday season without breaking the bank:

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Topics: ReThink Reporting

Use Case Spotlight: SITs

Posted by Maddy Moyer on Oct 6, 2016 2:37:00 PM

Single item transactions are always a point of concern for restaurant loss prevention professionals. While these transactions will happen in the normal course of daily business, high velocity by the same cashier is an indication of potential pass-offs of added items to friends and family ("Sweet-hearting") or the cashier under-ringing items and pocketing the added cash from the guest. These transactions look like incomplete orders, like just the bacon showing on a check for a double bacon cheeseburger, or just the guacamole appearing on an order for a burrito. The cashier sends the full order to the kitchen, but then voids off items and only rings the add-on item and tenders the check, pocketing the difference.

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Topics: ReThink Reporting, Use Cases

Spurn The Churn: Reducing Employee Turnover

Posted by Maddy Moyer on Sep 21, 2016 1:00:00 PM

Employee turnover is inevitable – not many people stay with one company forever anymore.  People leave for all sorts of reasons, but the top reasons people leave a job are addressable like their relationship with their boss or feeling unchallenged or unappreciated.  TheBalance.com cites the “Top 10 Reasons Why Employees Quit Their Jobs”[1] and the employee’s relationship with their boss tops the list.  In fact, relationships with management and coworkers are on the top of the list along with other controllable factors that can influence workforce performance.

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Topics: ReThink Reporting

Agilence User Forum Features Customer Case Studies, New Community Portal

Posted by Maddy Moyer on Sep 20, 2016 3:24:45 PM

Annual Agilence User Forum focuses on best practices to increase margin, reduce costs

and drive operational efficiencies that improve the bottom line for top tier retailers and restaurants

MOUNT LAUREL, NJ, September 20, 2016 – Agilence, Inc., the leader in cloud-based data analytics for retail and restaurant operations, today announced its annual user forum was held on September 13 – 14, 2016 at the Franklin Institute in Philadelphia, PA.  Agilence customers, representing a diverse group of mid to large tier retailers and restaurants, came together as a user community to discuss industry trends, network with peers and exchange ideas and best practices in driving margin improvements, expense reduction and improving operational efficiencies through data analytics.

The Agilence User Forum featured user presentations, hands-on workshops, and an Executive Think Tank program.  Industry leaders shared successes in not only identifying but recapturing significant bottom line dollars for their companies using 20/20.  

Agilence unveiled a brand new online discussion forum, the 20/20 Water Cooler™! 

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Topics: ReThink Reporting, Press Room

Dividing the Day to Multiply Operational Efficiency

Posted by Maddy Moyer on Sep 14, 2016 11:00:00 AM

In the restaurant industry, dayparting is the practice of dividing the business day into several parts– Breakfast, Brunch, Lunch, Dinner etc. During these blocks of times, different menus are featured with items targeted toward that particular mealtime and/or demographic.

Analysis of dayparts can provide owners and managers with actionable insights into how they can optimize their meal service operations. Measuring metrics such as order accuracy, kitchen bump time, and production time by menu item, across different times of the day, can influence menu assortment, pricing strategies, ordering logistic accuracy, and effectively aid in the proper scheduling of staff.  

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Topics: ReThink Reporting

Are E-Receipts Safe?

Posted by Laura Hills on Sep 7, 2016 2:00:00 PM

Asking if we want a paper copy of our receipt is becoming the norm when we visit our favorite retailers and restaurants.  Our first reaction is to say ‘no thanks’ to a paper copy. We think of the environment and convenience – and honestly, who really revisits those multitude of coffee shop reciepts cluttering our bags, wallets and pockets. Simply saying no to a paper copy is one less thing to recycle, fewer germs and extra protection from theft. 

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Topics: ReThink Reporting

A Check Kiting Kingdom Comes Crashing Down

Posted by Maddy Moyer on Aug 17, 2016 2:00:00 PM

Lately, we’ve been writing about retailers and restaurateurs contending with activities impacting profits such as losses from employee fraud and theft, inefficient operations, and noncompliance with corporate policies.  However, on June 23rd, 2016 a major fraud scandal hit close to home in nearby Mount Holly, New Jersey, just 15 minutes from our headquarters. This reinforced our thoughts about the universal application of our 20/20 Data AnalyticsTM platform.

The scandal that broke through, after a 2-year investigation, involved an organized sophisticated retail crime technique called ‘Check Kiting’.

Check kiting requires an individual to have an open account at two separate banks or to have one bank account and a 2nd place, such as a grocery store, where they can cash checks.  Within the first account there can be a balance of any amount, for example let’s say $50 dollars, but within the second, there is nothing. This scammer will write a check from the first account and deposit it to the second account for an amount greater than their actual balance, in this example let’s say $70 dollars.

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Topics: ReThink Reporting

Understanding and Preventing Credit Card Chargebacks

Posted by Maddy Moyer on Aug 11, 2016 2:16:00 PM

Every retailer has experienced shoplifting. While the impact of shoplifting has remained constant, the techniques in which these thieves masquerade as customers to walk off with merchandise has changed. Today, credit cards have become a prime channel for shoplifters to walk out with merchandise without truly paying for it and retailers have no way of identifying in real time which customers will be committing the crime.  Let’s consider the credit card chargeback tactic.

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Topics: ReThink Reporting

How to Thwart Employee Theft: The ‘Wagon Wheel’ Scheme

Posted by Maddy Moyer on Aug 4, 2016 2:24:00 PM

As a restaurateur, you’d like to believe that all of your employees are honest people.  While many of them are, industry surveys continue to indicate that most restaurants will experience some form of employee theft.  This could range from hourly employees snacking on French fries, or managers taking home extra comp’d meals at the end of the night.  It is estimated that 75% of all employees have stolen from their employers at least once.  So what if they eat a few fries now and then? It won’t impact my inventory enough to matter, right?  Unfortunately, the majority of the time, restaurant operators aren’t seeing the full picture.  No matter the severity, employee theft has an impact on your bottom line and in some cases that impact can be costly.  One easy to commit, but hard to detect, form of employee theft is called the ‘wagon wheel’ scheme.  This scheme siphons off your profits and, when committed by a number of servers, can put the success of your business in jeopardy.

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Topics: ReThink Reporting

Welcome to the Agilence Blog!

In this blog we will cover all things retail.  Everything from tips for operations and loss prevention, to analysis of current trends and customer habits will be covered here.

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