An Easy Way to Decrease Fraud

As many experienced entrepreneurs know, as soon as a good idea appears and you begin to make money off of it, people will try and defraud you. Massive scandals and major fraud can be avoided with the installation of a point of sale software system. Point of sale software can protect against many types of fraud, such as inventory order fraud, product return fraud, and credit card fraud. This is crucial to the small retail chain that is just trying to get into the black. Here is how this intelligent software can protect you against all of these problems.

With point of sale software, you can make it so only you as the owner or a group of your most trusted managers have the authority to place orders. And even after those orders are placed, you will immediately be notified as to the nature of the order and the total cost of the new product. With a hosted SaaS (Software as a Service) system, there is no way for someone to order inventory on your tab and leave you with nothing to show for it. The software will prevent this type of fraud if you simply keep your eye on the notifications.

Next, you will be secure against product return fraud. It is well known that many unscrupulous buyers will purchase a product, use it for a few days or even destroy it and then attempt to return it as unused or as a defective product. With point of sale software, you will have access to a detailed log of the return habits of all of your repeat customers. With this information, you will be able to refuse future sales to such customers, or even refuse their return if they have a history of shady maneuvers. This is especially helpful for the small retail chain because returns may be attempted at locations other than the one where the item was purchased. The hosted SaaS gives you real-time information so you are always on top of every transaction.

Another way that point of sale software provides security to your vulnerable retail chain business is through credit card fraud prevention. Upon the swipe of the credit card, your point of sale software can instantly notify you of the card owner's capacity to pay for the product. If the account in question has no funds or the card has already reached its spending limit, you will be notified on the spot and will be able to request another type of payment. This eliminates the chance of selling a product for nothing as well as the headache that accompanies any attempt to get the credit card company to settle the debt.

It is a proven fact that hosted SaaS point of sale software systems can reduce the amount of fraud against your company and even protect you against it. Due to the intelligent nature of the software and real time information from the hosted system, you are no longer operating your small retail chain in the dark. A hosted point of sale software system will protect your company against inventory order fraud, improper product return fraud, as well as credit card fraud. The improved security will do wonders for your bottom line.

Point of Sale Software