Theft is a big problem in retail stores. Maybe the really big companies may not suffer from one small theft incident but a small business might incur a big loss due to one minor theft. Big retail or small businesses every retailer has to take concrete steps to prevent theft.
Educate yourself and your staff to look out for suspicious activities amongst customer. Be especially aware of items like large bags and umbrellas which are convenient for hiding stuff. Check the bags and receipts during entry and exit. Train and inform your staff about your policy on internal theft and promote trust in the working space. Apart from these general steps, you need to invest in a system that will let you handle different types of theft and other fraud activities.
How Retail POS system help in preventing theft in stores?
A retail POS system is the solution that will help you identify and prevent fraud and theft in retail stores. Security features offered by the retail POS is useful in preventing misuse of other pos features.
The security and access management allows various employees to have a different degree of control over the POS system. Some employees can access the billing while a supervisor will be given access to transact returns, refunds and exchanges. Other security features also include protecting the customer information which can be sold to third party and secure card information to prevent fraudulent transactions.
Every item is logged in to the system and the prices updated. You can avoid misuse and lowering the price of expensive items. The pos makes it easy to schedule taking stock in shorter periods ensuring smaller windows of opportunity to steal. You can also track the product in different stages once it has been entered into the system until the sales are completed.
Improved mobility of the POS
Your employees need not be stuck to the cash register. In case of small and medium businesses where you don’t have enough manpower to be on the lookout for shifty customers, your employee behind the counter can also take care of the in-person surveillance.
Analyze reports to highlight suspicious activity
This feature relates to employees falsifying records. Check for mismatch in sales and employee shift records and inventory reports and analyse for dubious patterns.