| Fraud presents a challenge to every business owner | | | | it is faulty; whereas they never had any intention of |
| and you need to be continually on your guard against | | | | keeping the item in the first place. One extreme |
| fraudsters and scam artists. Fortunately, having | | | | example is where a food processor was used to |
| a point of sale software system installed can give | | | | prepare some food items for party and then returned |
| you added protection and minimise the likelihood of | | | | two days later for a full refund claiming that the item |
| your business suffering any unnecessary loss. | | | | was faulty. Although it is impossible to completely |
| The larger your business, the more it is likely to | | | | guard against this, some customers develop a track |
| become a target for fraudulent activity, but if you have | | | | record for regular returns and you are completely |
| the right systems in place you can make the job of | | | | within your rights to refuse future sales to these |
| the fraudster that much more difficult. | | | | people. Your point of sale software can be set up to |
| Whilst you may never be able to completely eliminate | | | | record instances of frequent returns so that |
| the possibility of loss from fraud, there are a few | | | | customers can be identified accordingly. |
| things you can do to tighten up your security. | | | | - The greatest control that a point of sale software |
| - Limit the Spread of Information. Your point of sale | | | | system allows you to implement is instant checks on |
| software system allows you to centralise the control | | | | credit cards and bank account funds. Where there is |
| of pricing and you can eliminate the capacity of | | | | insufficient funds you will be alerted instantly and the |
| individual staff to negotiate or change prices at the | | | | sale will not proceed. Credit card and direct debit |
| checkout. Putting these controls in place eliminates | | | | accounts can be set up in this way so that instant |
| the likelihood of staff fraud. | | | | approval from the bank is obtained prior to finalising the |
| - Make sure the inventory orders are authorised by | | | | sale. |
| the business owner or manager. Your point of sale | | | | These four simple checkpoints can be implemented by |
| software system can automatically generate an order | | | | any business owner to protect against the incidence of |
| when stock levels reach certain levels at the signing of | | | | fraud. Although not an exhaustive protective |
| purchase orders or cheques should only be allowed by | | | | mechanism, your POS software gives you an added |
| senior staff after checking with the software system | | | | advantage in protecting your business. |
| for accuracy. | | | | If you are experiencing an unusual amount of theft or |
| - Control Product Returns. In some instances of | | | | other types of fraudulent activity, you may find it easier |
| fraud, customers purchase items and then return them | | | | to pinpoint this once you have these systems in place |
| for a full refund soon after. In some cases the | | | | and then consult with a security firm to add further |
| customers have used the item and returned it claiming | | | | security checks. |