A chance meeting at InfoSec with Panasonic has helped Overtis significantly boost its presence in the retail market as it brings its security products to till points.
According to the British Retail Consortium (BRC) shrinkage, mistakes in giving too much change as well as theft and fraud from shop workers, accounted for 1.5% of turnover last year, which mcost the high street millions.
Using a security system that sits on the electronic point of sale systems (EPOS) and ties in with CCTV cameras it is possible to monitor specific transactions and pin down where errors and fraud might have occurred.
Ed Macnair, CEO of Overtis, said that it had launched a retail product at the start of the month but the chance to team up with an EPOS vendor like Panasonic would extend its reach in the market significantly.
"When you look at the technology and the impact on the bottom line it is hard for retail not to see the benefits," he said.
Although it is going to market first with Panasonic there are other large vendors operating in the EPOS market including IBM, NCR and Siemens that could be targets of Overtis.