– Glen Laslett FCA, FCIS, CIA, CCSA, CISA, CRMA, ACDA, Group Audit Manager,
As retail organizations seek to drive revenues through increased sales, they also face bottom-line pressure to maintain margins in the face of intense competition. In this context, the ability to limit inventory shrinkage—due to theft, fraud, or administrative error—becomes critical to minimizing losses and enhancing profitability.
Ongoing retail cash management issues such as procurement card fraud, duplicate payments, missed discounts, and purchase order errors directly affect bottom-line results. Retail organizations need to assurance the effectiveness of internal controls, to identify potential revenue leakage and employee or vendor fraud, and improve business process efficiencies.
ACL has worked with leading retail organizations to respond to these business challenges. A systematic implementation of ACL technology can help retail organizations establish a comprehensive continuous monitoring and auditing program to monitor the effectiveness of internal controls environment, resulting in fast payback and significant improvements to the bottom line.
Contact us today to learn more about how ACL technology solutions can be used to:
- Detect and prevent fraud
- Build or complement an existing loss prevention program
- Uncover opportunities to negotiate better supplier discounts
- Support vendor allowance and rebate management
- Improve inventory control
- Streamline analysis of sales results—by branch or region, sales representative, or line of business
- Support regulatory compliance