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

Tricks to Improve Profits for Back to School

Posted by Laura Hills on Jul 27, 2016 1:16:00 PM

It may seem like summer just got started, but for most retailers the back to school shopping season is well underway. This season is shaping up to be no different than the others in recent memory, and by that I mean the trend of individual consumer habits are driving sales. “Retail’s balance of power resides firmly in the hands of the consumer, and forward-thinking merchants who embrace this ongoing shift are poised to recast the future,” STORES Media Editor Susan Reda said. “Merchants who conduct business in an every-channel-of-engagement-matters environment are the ones who cultivate loyal shoppers. They’re also the ones leading retail’s digital transformation.”[1]

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Topics: ReThink Reporting

Turning Sweethearts into Productive Employees

Posted by Laura Hills on Jul 19, 2016 2:00:00 PM

Lately, we’ve been writing about some of the most common types of employee theft, as a part of our loss prevention education series, and our tips on how to identify and solve these issues.  Sweethearting ranks on the top 5 list of common employee theft practices. Sweethearting is the term used when an employee gives away merchandise without charging another party.  Usually involving merchandise that they’re not authorized to give away. 

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Topics: Use Cases

Gotta Catch 'Em All

Posted by Maddy Moyer on Jul 14, 2016 12:45:00 PM

With the newest release of Nintendo’s beloved Pokémon series, Pokémon Go, our office parking lot has turned into the latest and greatest hangout for techies, tweens, and everyone in-between. This has become a common occurrence for many other businesses across the United States.  For some, this game has created an annoyance, as players wander around places they probably shouldn’t or pull out their phones at inappropriate times in an effort to find the closest Pokéstop or PokéGym. But for retailers and restaurants, Pokémon Go presents a great opportunity.

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Topics: Blog

    

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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