november2024 - 33

our team validate actual instances of
theft, " Keally explained.
Panoptyc also offers features
that allow operators to view their
market, evaluate driver performance
and assess the need for
service at a location.
Keally pointed out that while
their technology is great at reducing
shrinkage, communication with
the client is critically important,
especially early on. He encourages
operators to have a conversation
upfront, explaining that while you do
not expect to have a theft problem,
you have invested in a system that
can identify suspicious activity.
Operators should assure clients that
they want to work with them to
resolve issues when they happen,
which will keep prices low, keep the
shelves stocked and provide a better
experience for everyone.
He noted that getting a contract
upfront that addresses how theft
is going to be dealt with - either
discipline, a conversation or
reimbursement - is important.
" The biggest key to success is
awareness. If the customer is
willing to bring awareness to the
market - that it's not okay to steal,
and that it's going to be monitored
- that's where you're going to see
ROI with the system, " Keally said,
adding that it must be a partnership
between the operator and the client.
" If the shrink goes above a certain
level, the client has to be willing to
participate in the loss. That needs to
be in the contract. "
AI HELPS PUT THE
'ATTENDANT' IN
UNATTENDED RETAIL
ProWatch Solutions is another
company that is taking an AI-driven
approach to micro market theft
mitigation. Company founder Mark
Kronenberg has a long familial
Theft Detective from GlobalConnect is a cloud-based micro market theft detection
solution. The system includes proprietary hardware that monitors the market and
uploads footage to the cloud for analysis. Specific events trigger a higher risk score
including patterns not necessarily visible to a casual user.
November 2024 * VendingMarketWatch.com 33
Theft Detective by GlobalConnect

http://www.VendingMarketWatch.com

november2024

Table of Contents for the Digital Edition of november2024

Editor's Note – Online learning, live and on-demand
Industry News
Elevate your sales success rate
Success Story – Be Better, Be Different
2024 Pros to Know Winners
Preventing micro market theft with technology
Capturing recurring revenue in OCS and micro markets
Product Focus – RTD Beverages
Social Hubs
november2024 - CoverTip1
november2024 - CoverTip2
november2024 - 1
november2024 - 2
november2024 - 3
november2024 - 4
november2024 - Editor's Note – Online learning, live and on-demand
november2024 - Industry News
november2024 - 7
november2024 - Elevate your sales success rate
november2024 - 9
november2024 - 10
november2024 - 11
november2024 - Success Story – Be Better, Be Different
november2024 - 13
november2024 - 14
november2024 - 15
november2024 - 16
november2024 - 17
november2024 - 2024 Pros to Know Winners
november2024 - 19
november2024 - 20
november2024 - 21
november2024 - 22
november2024 - 23
november2024 - 24
november2024 - 25
november2024 - 26
november2024 - 27
november2024 - 28
november2024 - 29
november2024 - 30
november2024 - 31
november2024 - Preventing micro market theft with technology
november2024 - 33
november2024 - 34
november2024 - 35
november2024 - Capturing recurring revenue in OCS and micro markets
november2024 - 37
november2024 - 38
november2024 - 39
november2024 - Product Focus – RTD Beverages
november2024 - 41
november2024 - Social Hubs
november2024 - 43
november2024 - 44
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