Kundu wins RSPA Award, Best Software Application - Loss
This year’s Retail Solution Providers Association (RSPA) award for
Innovative Software across the retail industry has gone to a company focusing
specifically on Loss Prevention.
Malay Kundu, Founder and CEO of
StopLift Checkout Vision Systems, has won the Innovative Solution Award
the Best Software Application at the Innovation Solution Awards sponsored by the
RSPA. The award was presented at the RSPA’s Awards Program during RetailNOW 2014
in Orlando, Florida.
Criteria included: solving a problem, driving innovation, delivering ROI and
creating something unique and cool.
Kundu’s company StopLift created ScanItAll, which detects all unscanned items at
the checkout, the Achilles heel of retailers and supermarkets and an estimated
$14 billion annual cause of shrink. Until now, there was no way to track
unscanned items, because there was no data trail. The company has detected close
to one million scan avoidance incidents.
StopLift’s ScanItAll uses installed POS and overhead video cameras and
interprets cashier and customer body motions at the manned and self-checkout.
The system analyzes pixels in real time to identify fraudulent behavior, such as
failing to scan, covering a barcode, leaving items in the shopping cart, and
circumventing the weight scales. Retailers are alerted the first time a
fraudulent incident occurs, significantly reducing shrinkage, deterring future
theft, and boosting profitability. They use ScanItAll to not only monitor
suspicious employee behavior but also improve training.
StopLift’s new Self-Checkout Accelerator improves the self-checkout experience
by identifying legitimate behavior, e.g. a purse on the weight scales, while
also flagging unscanned store items.
Kundu founded StopLift after leading a field study on preventing retail
shrinkage while earning his MBA at Harvard Business School. Retailers told him
that much of the shrinkage occurs at the checkout, and that most of the video
surveillance is never viewed.