Hicom, the IT software firm, is working with the University of Portsmouth, pictured, on a 40-week Knowledge Transfer Partnership (KTP). As providers of software to the retail sector, Hicom’s systems collect large quantities of data on retail crime, risk, and health and safety incidents from its clients. This data is used by the IT firm’s clients to identify trends and make policy.
For Hicom, the KTP presents an opportunity to gain value for its customers by further analysis of the data stored in its retail systems, to provide greater insight, enabling better management decisions and to help promote best practice across their customer base. The results of the project are anticipated towards the middle of this year.
KTP is a UK-wide programme for businesses. A KTP forms a partnership between participating businesses and an academic institution to allow companies to access skills and expertise from recently qualified specialists to aid in a specific business project. KTP enables new capability to be embedded into the business, offering continued benefits to a wide range of companies across many sectors. Richard Paterson, Business Development Director at Hicom, says: “We saw the potential to perform greater analysis of the data collated by our systems and provide better insight into the risks that are faced by our customers. We consulted our key customers who are supportive of this project and showed particular interest in analysis that would show effective prediction of retail crime incidents allowing targeted preventative measures; identification of Health & Safety risks for staff and customers at a more refined level, to enable more effective prevention; and refined identification of the risks of ‘shrinkage’ losses, allowing specific preventative measures to be taken.”
The KTP is very much a three-way relationship between Hicom, the University of Portsmouth and their nominated Associate, with the objectives and outcomes of the project benefiting all parties. For Hicom, the KTP brings the opportunity to provide a new level of value added services to its retail customers through the identification and exploitation of the data, to reduce crime, shrinkage and health and safety incidents in client retailers.
Bruce Richards, Director, Hicom, adds: “The aim of this project is to provide us with greater insights into how our clients may be able to minimise the likelihood and effect of potential crime incidents, health and safety issues and shrinkage losses in the retail sector. It could lead to a new way of identifying and preventing crime through better prediction of incidents potentially saving the sector a substantial amount of money.”
