How can POS systems help in preventing fraud
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How can POS systems help in preventing fraud

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Fraud is common in the POS industry involving replacements, stealing and many more ways. Now you can track and prevent fraud. Here are some useful tips.

Fraud is common in the POS industry involving replacements, stealing and many more ways. Now you can track and prevent fraud. Here are some useful tips.

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    How can POS systems help in preventing fraud How can POS systems help in preventing fraud Document Transcript

    • How Can POS Help In Preventing Problems In Sales Return FraudImagine this. You own a retail clothes outlet. A customer buys an expensive shirt. Two dayslater he is back complaining about a stain or the fit or a torn button. He returns the garmentand gets his money back. You end up with a shirt which you either put on sale or discardcompletely.Or think about this. A man walks into your shop with a pair of jeans and a receipt. Heshows you some defects in the jeans. You have no choice. You have to refund the money to theman and throw the piece of clothing away. Then you find out that the receipt is a fraudulentone.Or worst case. Your employees just make a return entry of existing stock from display rackand pocket the money.In either case, you lose money.These instances are called sales return fraud. There are various other ways of swindling yourbusiness for money.Now, if you are using a point of sale (POS) software, you can use it to prevent these lossesfrom occurring. Here’s a look at how you can make your POS software and ally in sales returnfraud prevention.POS software will help you track your return statistics Rance Computer Pvt. Ltd. Developers of retail software and restaurant software 131, C R Avenue, Kolkata (Calcutta) 700073, INDIA Phone: +91-(33)-4066-4277 www.rancelab.com
    • You can be sure of return fraud occurring by checking a few things: • Sudden increase in the return rate . • More number of returned items have to be discarded . • The number of items returned that can be resold has gone down.POS software features can easily track down this information. Additionally, you can stop storeemployees from committing this crime.POS software enables you to print digital signaturesAnother cause of return fraud is when stolen merchandise is returned for cash or gift coupons.If you have digital receipts, the returned item can be verified. If there is no such receipt, thenyou are sure to have a thief on your hands.It is easy to train the staff to use the POS software to check for digital receipts. This wouldallow you to have less strict return policies. Customers would remain happy.Posting notes against customers in the POS softwareThe POS software can display special notes or reminders about customers. Now, if you have acustomer who is a habitual returnee, you can always check the items returned closely andfollow return policies.Using a “Exchange module” of POS software to counter fraudulent returnIn apparel retail store, it is common that customer comes back asking for changing this size tothat size or changing this color for that. POS software can be programmed where it can scanthe item to exchange AND then scan the new item. This will help you know whats going on.And this will also help the cashier to handle the case.So, if you have a retail store business and you are constantly disturbed about sales returnfrauds, stop worrying. Make your POS software an ally and you can sleep peacefully knowingthat your business is safe. Rance Computer Pvt. Ltd. Developers of retail software and restaurant software 131, C R Avenue, Kolkata (Calcutta) 700073, INDIA Phone: +91-(33)-4066-4277 www.rancelab.com