But a company doesn't have to do everything at once, said Titus.
"This is incremental," he said. "You need to develop a strategy to help you move along this path."
According to the PricewaterhouseCoopers report, one large US retailers was able to reduce shrink from closed to $1 billion to $250 million through a revamped, data-driven loss prevention program.
"We can help a client understand where you are on the maturity model," he said. "And if you want to go here, this is what it will cost you, and this is the benefit you will get from it."
Sign up for CIO Asia eNewsletters.