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Fujitsu and IntelliQ form collaboration to reduce retail shrinkage

October 27, 2006

As part of its overall focus on responsive retailing, Fujitsu Services, one of Europe’s leading IT services companies, has formed a collaboration with IntelliQ, a leading provider of comprehensive loss prevention solutions. The collaboration will help retailers from across Europe reduce shrinkage caused through administrative errors or theft and fraud at the till.

The average shrinkage rate suffered by stores throughout Europe is 1.24% of turnover, according to the European Retail Theft Barometer*. The survey suggests that retailers perceive internal theft to be responsible for 30% of shrinkage and staff error; process failures and pricing mistakes to account for 14.3%.

It is widely believed that most losses occur at the Point of Sale (POS) terminal. IntelliQ’s RetailKey LP application will allow retailers to prevent losses at the till by auditing and analysing large amounts of transaction data in order to identify irregularities and fraudulent activities caused by staff. The return on investment of this tool provides a fast payback, making it a preferred option for audit and finance staff tackling loss prevention.

Dr Mark Dorgan, European retail partner, Fujitsu Services, comments: “The addition of this tool for tackling the perennial problem of shrinkage makes a valuable contribution to our mission of providing retailers with an end-to-end portfolio of retail information services. By working with IntelliQ, Fujitsu will be able to provide retailers with a complete package from implementation through to on-going support, including a pioneering loss prevention solution. This will enable retailers to identify quickly and efficiently instances of fraud in the most cost-effective way.”

Simon Grant, CEO of IntelliQ, comments: “This loss prevention application enables retailers to identify losses at the Point of Sale and prevent them, with a fast and proven return on investment. We have vast experience of delivering sustainable results to leading retailers such as B&Q, Bhs, John Lewis Partnership, Carphone Warehouse and Lloyds Pharmacy and this collaboration with Fujitsu will allow us to combine RetailKey with the services already offered by Fujitsu.”

* Source: European Retail Theft Barometer 2005: Monitoring the Costs of Shrinkage and Crime for Europe's Retailers, Nottingham: Centre for Retail Research.

About Fujitsu Services

Fujitsu Services is one of the leading IT services companies in Europe, Middle East and Africa . It has an annual turnover of £1.74 billion, (€2.58 billion) employs 14,500 people and operates in over 20 countries. It designs, builds and operates IT systems and services for customers in the financial services, telecom, retail, utilities and government markets. Its core strength is the delivery of IT infrastructure management and outsourcing across desktop, networking and data centre environments, together with a full range of related services, from consulting through integration and deployment. Headquartered in London , Fujitsu Services is the European-centred IT services arm of the Fujitsu Group. The Fujitsu Group is a US$45 billion (€37 billion) leader in customer-focused IT systems and services for the global marketplace.

About IntelliQ

IntelliQ is a leading provider of comprehensive profit protection solutions to the retail sector. Our experience helps clients protect and grow profits through the cost-effective analysis of transaction data from multiple sources.Headquartered in the UK, IntelliQ has been helping both private and public sector organisations for over 10 years, delivering rapid and sustainable RoI. RetailKey LP is rapidly deployed and requires minimal maintenance. Its ease of use and ability to adapt to the ever-changing patterns of loss leads to increased operational effectiveness and supports the growth of a culture of loss elimination.

Graham Goulden

Phone: Phone: + 44 (0) 1753 604736
Fax: + 44 (0) 1753 604669
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Company:Fujitsu Services

Nikki Cope / Sarah Townsend

Phone: Phone: + 44 (0) 1425 472330
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Company:McKenna Townsend PR

Date: 27 October, 2006