With NTS Retail you are able to finally put an end to cash register manipulation, excessive discounts, fraudulent goods returns and exchanges as well as forged coupons and lost inventory!
Minimizing losses due to fraud and lost inventory plays an important role in today’s retail business. According to the Global Retail Theft Barometer, shrinkage rates worldwide vary between 1.0% and 1.6% of sales, showing an increasing trend. Losses due to shrinkage are primarily caused by theft of goods or cash, cash register fraud as well as more or less significant process-related errors. Especially in the context of selling high-quality or subsidized goods, fraud prevention becomes more and more important.
Opportunities to commit fraud or theft are seemingly endless, starting with goods acceptance in the warehouse and ranging to the cash desk on the sales floor. Theft committed by dishonest employees ranks second right after shoplifting. Employees have free access to goods showcased in sales shelves or kept in storage as well as to the money inside the cash drawer. This offers a wide variety of different fraudulent activities since monitoring and control are limited.
Cash register fraud
A rather common kind of fraud is manipulation at the cash register. Instead of handling the sales transaction the usual way, the cash drawer is opened by means of a zero amount transaction in order to return change to the customer. By doing so, the received cash is not registered with the cash register system and goes right in the sales agent’s own pocket. Another possibility is the retroactive cancellation of a previously performed sales transaction. Preventing such scenarios requires proper user authentication, intelligent reporting and analyzing methods as well as a comprehensive permissions, inventory and serial number management system.
And this is what NTS Retail has to offer:
- User authentication
- Intelligent reports and analyses
- Comprehensive permissions management system
- Seamless inventory and serial number tracking
- Control mechanisms for monitoring discounts
- A highly reliable cash management system