Unedited news and product information from vendors.
Global Retailer with Over 6,500 Locations Standardizes on March Networks in Deal Worth More Than $8 Million
Dec 02, 2010 (09:12 AM EST)
OTTAWA, Dec. 2 /PRNewswire/ - March Networks® (TSX: MN), a global provider of intelligent IP video solutions, today announced that one of the world's largest quick service food franchisors has standardized on a March Networks Retail Solution for its U.S. locations in a deal valued at more than $8 million. The video surveillance and loss prevention solution will boost franchisee profits by helping reduce inventory shrinkage and improve operational efficiency. All franchisees are eligible to adopt the systems, with deployments beginning in January 2011 and continuing throughout the year.
With billions in annual sales, the retail organization is vigilant about combating shrinkage, which it estimates can account for as much as 10 percent of a store's yearly sales depending on its location. The organization selected the March Networks Retail Solution for its proven ability to deter theft and reduce investigation times by integrating point-of-sale (POS) transaction data with video evidence. It also recognized the value of the solution's managed services component, which provides remote system health monitoring and maintenance while leaving franchisees free to focus on their core business. The retailer has already experienced a 3.4 percent average increase in sales revenue across those stores already using the solution.
"Video surveillance is critical in a retail environment, where both the risk of loss and the potential for savings are significant," said Peter Strom, President and CEO, March Networks. "Our integrated solutions have a proven track record helping some of the world's largest retail organizations combat shrink, reduce food costs, improve security and enhance customer service through increased store monitoring. We look forward to working with this leading retailer to roll out our solution on a national scale."
The retailer's loss prevention and information technology groups, along with franchisee representatives, conducted an extensive review before selecting March Networks. They identified several key differentiators for the solution, including its seamless integration with franchisees' existing POS system, its live on-site and remote monitoring capability, and the ease, speed and accuracy with which the franchise operators could identify and pursue suspicious transactions.
The solution integrates powerful VideoSphere® Visual Intelligence and Retail Transaction Investigation (RTI) software with 4000 LC Series hybrid video recorders able to store high-quality video for at least 45 days. The RTI application enables franchisees to efficiently review high-risk transactions and associated video clips. It also monitors POS keystrokes in real-time as an overlay on the video to show product downsizing and item deletes, to further deter inventory loss. Managed services complete the solution by ensuring optimum system performance.
About March Networks
*MARCH NETWORKS, VideoSphere and the MARCH NETWORKS logo are registered trademarks of March Networks Corporation. All other trademarks are the property of their respective owners.
SOURCE MARCH NETWORKS CORPORATION