Getting robbed, cheated or swindled is every retailer or for that matter any common man’s nightmare. Research indicates that nearly 50% of retail theft or retail inventory shrinkage comes from employee theft. This is a problem that is alarmingly huge in proportion and shouldn’t be overlooked by any of the retailers.
To overcome or avoid such unpleasant experiences retailers can make use of 10 tips to prevent such thefts from occurring by making use of POS inventory software.
Review register transactions on a daily basis. Make sure that your store managers or employees concerned with transactions are present when reviewing these transactions.
When reviewing these register transactions, make sure to look out for
excessive openings of the drawer
small cash refunds
returns to the drawer
These small transactions give a clear picture of small denominations of cash being stolen or deliberately getting displaced.
Make a review of ‘voided/cancelled/deleted’ sales report daily.
Check your returned transactions report daily.
Never share your passwords with your employees. And even if you have done so, make it a point to change the passwords on a regular basis.
Make all your areas of software thoroughly secure by adding passwords/security questions to them. Restrict access to employees to all areas of the software, limiting them to only those areas where they really need to make use of the software to work.
Check your profit margin reports thoroughly making sure to delve into those areas that show low margins on a particular day.
Keep accurate account of your inventory.
Make it a point to earmark certain days in a month or week to monitor your stock in the POS system. All the employees should be present when the stock checking is carried out.
Access to customer’s personal information in POS software with regard to their credit card details should be made secure or restricted only to certain employees.
It is always best to take a personal interest into all the transactions of your retail outlet, howsoever busy you maybe. In case you aren’t able to do so on a daily basis, make sure to earmark certain days to check certain sections of the retail outlet and other days other sections. You have no other option but to trust your employees to a certain extent, but that does not mean you trust them implicitly with all your secure areas of POS software that you access anytime and everytime. Remember cheats and crooks are always on the look out for those vulnerable areas or lapses to cheat you of your hard-earned money. Remember your POS inventory software is built to assist you in all areas of work, you just need to know how to make use of the software without giving away too much of your privacy and security.