Ways to avoid fraud
- Author Jason Harrison
- Published December 10, 2010
- Word count 539
A few of the major problems that retail chains face are directly related to fraud and fraudulent behavior. People will attempt to make inappropriate returns, ?purchase' products without any money, and employees will try and give themselves a few ?hook ups.' None of these things are beneficial to your business, but with the technology that you currently have in place, it is very hard to prevent any of them from happening. That is why you need to invest in point of sale software. A point of sale software system has several tools that can be instrumental in decreasing the amount of fraud that your business experiences.
The age-old problem of faulty returns has got to be a big problem on the fraud list. A consumer will come to your store and purchase a product that is either in a box or in some type of packaging that makes it impossible to see the actual condition of that product. The customer takes it home and comes back a few days later to return something that was supposedly broken upon purchase. They may even try to return it to a different location than where they purchased it. Not knowing whether it was broken or not, you just accept the return. A hosted point of sale software system gives you the ability to track consumer return history so that you can cut down on those people who tend to return everything and say it was broken. If someone is constantly returning products that they likely broke, the point of sale software system will be able to clue you in on it and you will be able to refuse service to those individuals or not accept their returns.
Fraud can also strike through various types of spurious payments. People will attempt to make purchases with cards that are linked to bank accounts with no money or even try to charge purchases to credit accounts that have already reached their limit. Problems such as these can end up leaving you to pay the price. You will have to battle banks or credit card companies in order to collect payments and sometimes you will not win. These battles consume time and cost your business money. A hosted point of sale software system will eliminate these types of risks. If the card or account in question is not able to cover the costs of the purchase, the software will notify the cashier and another form of payment will be requested.
A final way that fraud can be eliminated is in the inventory management department. A hosted point of sale software system will get rid of the guessing that once accompanied inventory stock levels and by doing so it eliminates employees' opportunities to take product without anyone noticing. There will no longer be that grey area between delivery receipt and product disappearance. The point of sale software system will always keep track of which items were sold and which were not. If a product is missing that was not accounted for in the point of sale software sales report, then you will know that an employee helped themselves to a product from the back room without paying. Its time to eliminate fraud.
Point of Sale Software
Run.It Systems has created the industry leading point-of-sale system. We pride ourselves in designing fully-integrated business solutions specifically for the independent specialty retailer-whether that means a single store or sixty stores. Point of Sale SoftwareArticle source: http://articlebiz.com
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