Evercheck mitigates retail shrink, improves operations and delivers substantial financial gains
CORK, Ireland & MIAMI--(BUSINESS WIRE)--Everseen, the leader in vision AI for global retailers, announced findings that reveal significant return on investment (ROI) and efficiency gains from its Evercheck solution for retail loss prevention. These findings are drawn from the commissioned Total Economic Impact (TEI) study conducted by Forrester Consulting on behalf of Everseen.
Based on indepth interviews, financial analysis, and a composite customer model, the study concludes that over three years retailers implementing Evercheck can expect to experience:
- 374% ROI
- $88,000 average annual value recouped per store
- Break-even payback in less than six months
Evercheck is the primary solution operating on the company's Vision AI platform which processes 300 years of video daily. Evercheck utilizes computer vision and artificial intelligence to detect potential shrink-related issues at self-checkouts and staffed lanes and identify anomalies such as unscanned items and product switching. The system then prompts shoppers and store associates to correct the issue.
"Evercheck is exceeding the value that we thought we would recover," said the GM of omnichannel from a multi-national retail franchise. Another respondent, a VP of asset protection and safety from a U.S. regional grocery retailer stated, "Evercheck contributed to thirteen consecutive quarterly drops in shrink."
Respondents also reported that staff productivity was improved by 15%, and technology costs were reduced by $300,000 annually. They also cited the benefits of an improved customer experience and confidence in an ethical AI approach.
"Evercheck's abilities to mitigate shrink and enhance operational efficiency are game changers for our retail partners," said Alan O'Herlihy, founder and CEO of Everseen. "For us, this study validates our commitment to delivering substantial financial benefits and pushing the boundaries of what AI can achieve in the retail sector."
For more information, download The Forrester Total Economic Impact Study Commissioned By Everseen, Sept 2024.
About Everseen
Everseen is a leader in vision AI, trusted by 10 of the top 20 global retailers. The company is transforming retail by enhancing customer experiences, streamlining operations and reducing shrink. Everseen's AI Platform has the largest footprint of AI-powered computer vision endpoints and can operationalize AI for any process in any industry. For more information, visit: .
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Matt Grant
everseen@treblepr.com
