How much are you using your POS to control fraud?

How much are you using your POS to control fraud?

As managers, we all have this idealized concept that our personnel are loyal, sincere and reliable. It is hard for us to imagine that our favorite staff member is greedy and steals! But the truth is that internal retail heist is real; in a Pinkerton Survey of more than 80,000 retail workers, } judge petty theft acceptable. Actually, this type of thievery accounts for  of shrinkage. In the US, it was found that employees steal 10 times as much as shoplifters.

What the employee thinks is:
The company makes a lot of profit, they won’t miss a few dollars.
It is normal for the shop to have a certain amount of shrink, they will nullify it.
The owners don’t care about me, why would I care about them.

So how do your employees steal and how can you use your O-market Retail Management POS Software to stop them?

1. Refund Scam: The employee scans an in-store item and returns it using false consumer information without a receipt (if you have a no receipt return policy) or with a customer receipt from an earlier transaction.

The Employee Theft feature in O-market gives you the option to let only managers or the most trusted employee carry out the refund as well as generate Return Statistics reports.
Your refund activity is suspicious in these cases:
• If your return percentage is higher than the industry average or if it has increased significantly from previous periods.
• If the refunds happen very early in the morning or very late in the afternoon when the store is almost empty.
• If there is a large amount of refunds carried out by one particular employee.

2. Sweethearting: The cashier rings in a sale at a mark down, usually for friends and acquaintances as a gesture or even for a profit, as the employee takes some of the discounted amount back from the client.
What you can do is allow employees access to a small specified discount while leaving most of the other discounts only accessible to the manager.
You can also track the discount records of your employees and notice if a particular staff member is giving more reductions than they should.

3. Directly stealing from inventory: Yes employees do that, be it for pack of cigarettes or for a skirt they really liked.

Digital Inventory is a feature in Omega’s O-market Retail Management POS Software where the employee scans the items in the inventory and inputs the count for each. The employee doesn’t know the quantity of products that should be in stock, but when the scan is over the system calculates the difference between the starting inventory, the items sales and the closing inventory, and generates the variance for each item. A negative variance means you have missing inventory which could be due to heist.