In today’s litigious society APIS could easily pay for itself by preventing just one lawsuit. Depending on the size and financial position of the company, it is even more likely that judgment will be sought in the millions of dollars for even the smallest infraction. Mitigating these lawsuits requires the ability to review and analyze data and details surrounding a particular event or incident and liability increases when those details are not captured properly, communicated and followed up on a timely basis and maintained effectively.
Not only does APIS provide and manage communication of event details, its advanced research capabilities and analytics facilitates investigation research, risk assessment and threat analysis to assist in limiting exposure for the company and maintain global compliance to mandatory business practices like Sarbanes-Oxley and the Federal Sentencing Guidelines.
The return on investment for APIS is delivered in a variety of ways. You will find several time saving and cost saving points of process and function that will vary based on how the system is utilized. With many of these items, like those previously stated, it is difficult to put a pre-determined dollar value to all aspects of the system however, in those areas where this was possible, those numbers have been added. Please see the tabs to the left for examples.
Deterrence / Prevention Effective data capture and retention coupled with advanced research and analysis tools offer opportunity for prevention of incidents and accidents, particularly in repeat events as well as recidivism both by scam artists, shoplifters, organized crime, dishonest employees and hiring of new employees who were previously apprehended as well as deterrence of workplace violence or other workplace incidents.
Efficient Record Keeping - APIS offers an organized and consistent means of recording and tracking loss prevention data. Data is stored electronically and backed up daily to ensure proper data retention. (This figure is located in the Time/Money savings under ROI Tangibles)
Expedited Data Entry / Better Time Management APIS was designed for speed and data input is streamlined for fast data entry with specific function for eliminating redundant entry. Better/faster data entry means less time spent processing case information and more time spent on risk management and loss prevention initiatives. (This figure is located in the Time/Money savings under ROI Tangibles)
Investigation Research Support APISdataweb and the APISsuperweb facilitate investigation research and save significant time in investigation and case development, link analysis and trend identification. (See ROI-Tangibles)
Integrated Solution working with multiple systems for integration including for example telephone incident reporting, outside vendors/insurance carriers/brokers, email support, exception reporting, third party negative data files and more saves time and money and the electronic means of data transfer means data is delivered, received and/or analyzed faster, limiting exposure.
System Training interactive program offers 24/7 training availability. No need to schedule a training session with a trainer and this training is included with APIS at no extra cost.
Liability and Damages The APIS system is designed with data control, user communication and a required approval process to ensure proper recording of case data and review of apprehension procedure. This helps in maintaining better case data and ensures that case details are properly accounted for to limit liability and exposure from poor data management when cases go to court. This savings will vary but is a definite consideration in return on investment. Improper data management of one case alone could cost tens or hundreds of thousands of dollars if not more.
Additional Intangible Savings includes:
- Impact on Communication
- Impact on Awareness
- Impact on Corrective Action
- Impact on Accountability
- Impact on Compliance
- Impact on Shrink / Inventory Loss Impact on
- Reporting at Corporate and DCs
Time / Money Time is money and the performance of the system realizes that. The intangibles listed above contribute to a significant savings of time which translates into saving money when you translate salary hours into payroll dollars saved. The efficiency of data entry, collection and reporting will translate into a reduction in labor required to perform the function which can be estimated as a tangible cost savings. This is a savings realized at a variety of levels including at the DC level with Loss Prevention Agents and Managers, and at corporate levels collecting Loss Prevention Details, Summary reports and analysis.
Communication electronic data management means less money spent on shipping / handling of case data including telephone calls, fax, postage, shipping costs, handling, etc. It also means that data can be communicated more quickly via electronic transfer limiting liability and exposure and providing faster return when communicating with insurance carriers, brokers and/or civil demand companies.
Paper / Office Supplies & Administration electronic data management means more data may be communicated in a paperless environment allowing for cost savings in paper and case file costs.