The solution that provides an efficient and comprehensive ROI
It’s best perceived that as a business you are meticulously tracking your profits and losses and you would be unequivocally aware if there was an area within your organisation that was suffering significant costs, but would you fully comprehend the full effect that it can have?
As a business you will be aware that fraudulent claims exist, however by not having the tools to address and combat these claims this problem could potentially be costing your organisation millions of pounds each year, but more frustratingly if you had the tools, these costs can be significantly reduced.
It may be particularly difficult to comprehend, but when we say that this phenomenal loss is coming from your principal source of income, your customers, would you believe us?
Perhaps not, however the best way for us to convey this is to ask you to think for just a moment about how many times your customer service team/ social media team receive calls, posts and emails from customers expressing that they have not received an item in their parcel, or that their parcel or items were damaged on arrival? Probably more than you anticipate.
Now, combine this with the dominance of social media complaints, organisations are increasingly becoming more conscious about their brand reputation, with customers quick to ‘blast’ your organisation online.
Due to this, it’s often perceived that the easiest way to address these complaints and queries and to avoid the repercussions of social media influence is to just replace or refund with no questions asked.
To name but one reason why you may do this is due to the cost of your team trying to investigate the legitimacy of these claims is higher than it is to just apologise to the customer and replace/ refund.
However, have you sat down and considered the reality that a high proportion of these claims may not be genuine?
As a result of these dishonest claims, they will be contributing not only significant costs to your company in terms of you having to replace items that aren’t lost or damaged or refunding customers unnecessarily, but customers can potentially carry out the same fraudulent claims more than once if they see that they are successful.
As the cost of living is substantially increasing, with no plummet in sight, so in fact may the increase of these claims, which as a business is a cost that you really cannot afford to go unnoticed.
However, with the support of Data Installation & Supplies and our innovative video technology solution from Qognify, Business Video Intelligence can significantly reduce the hours taken to browse recordings to clarify irregularities, (for example lost or damaged items within the warehouse.)
Through the combination of video and transactional data we make it possible to search for specific items or transaction types, furthermore, finding the matching video recordings of the parcel being packed within seconds of a customer query coming into your team, which can then speedily allow you to determine the legitimacy of a customer claim…
Of course, mistakes in the warehouse do happen, meaning that not every customer not in parcel, or damaged item claim is fraudulent, in which case Business Video Intelligence can be used to deliver the highest level of customer service.
Business Video Intelligence not only assists you with fraudulent claims, but it supports you in swift investigations, by providing you with seamless documentation of the flow of your goods and improving the efficiency of research, with the seamless monitoring of each step of your processes, through a combination of visual and transactional data.
To put into perspective the impact that Business Video Intelligence can have on your organisation, when the innovative solution was implemented for one of our customers, we gave a £1.5million saving over just a few years.
We appreciate that this blog will only pose as a brief insight into hopefully making your loss prevention and customer team collaborate and begin primary discussions to try to factor the real costs that Not in Parcel Claims, Missing Consignments and Returns Claims are costing your organisation, enabling you to begin to comprehend the actual losses that are being faced because of customers fraudulent claims.
We welcome hearing from you so that we can provide you with a more in depth understanding of exactly how Business Video Intelligence works, furthermore through our understanding of your organisation we can customise the solution to specifically meet your requirements, offering tailor made, modular resolutions through use of the advanced integration capabilities of Business Video Intelligence.