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What are the Different Types of Loss Prevention Software?

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  • Written By: H. Bliss
  • Edited By: W. Everett
  • Last Modified Date: 15 November 2016
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Loss prevention is a big part of business, and many types of software are created to deal with the many aspects of loss prevention. Some types of loss prevention software help with surveillance, while others monitor financial records for evidence of wrongdoing. For loss prevention workers, software that helps organize information on inventory loss can assist in preparing a legal case for court. This type of software can be hosted in the Internet or run from a local computer or server. Loss prevention software can also be classified by industry or purpose, like retail loss prevention or emergency services loss prevention programs.

Surveillance software generally will run a series of cameras that monitor an area and record activity. This type of system can reduce loss by enabling the business to identify and prosecute shoplifters. Some systems work with wireless cameras, allowing the property owner to place cameras without running wires. Most systems of this type allow the user to look at live camera feeds while the system records all feeds to memory.

In loss prevention, cameras can be used to monitor customers to detect or deter shoplifting, or they can be trained on the cashier to detect problems during register transactions. Retail loss management software can help a retail manager organize theft cases for court prosecution. This type of software also detects instances of fraud within a payment system.

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Sometimes, retail loss prevention software companies offer off-site whistle-blowing services that take reports of problems within the company that might help prevent loss. These programs are designed to offer a safe place to report bad business practices without fear of retribution. Some companies offer rewards to whistle-blowing employees who help the company avoid losses by reporting problems in the workplace. Software for this purpose includes functions that help the user track and record whistle-blowing events so the information can be used to improve operations and prevent future losses.

Another type of software, called data loss prevention software, is designed to keep a user from losing sensitive or proprietary computer data. Protecting valuable data means protecting the files from leaks and hackers, as well as protecting files from getting lost. Techniques used by a data loss prevention software program include multiple backups, including some off site, and security safeguards to prevent intruder access to files. Since leaked data can mean a loss of money for the organization protecting it, protecting data assets can be as important as protecting financial assets.

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