Creating a secure retail environment
Retail spaces offer seemingly endless potential to commit fraud or theft, starting with goods acceptance in the warehouse and ranging to the cash desk on the sales floor. With NTS Retail you can finally put an end to cash register manipulation, excessive discounts, fraudulent goods return and exchange transactions as well as forged coupons and loss of inventory.
Care to learn more about our approach to fraud prevention? Check out our whitepaper.
Achieve great system security
- Reduce inventory shrinkage with seamless serial number tracking and approval workflows
- Secure discount and gift card handling
- Avoid payment manipulation with sophisticated security checks
- Prevent fraud activities in sales and return transactions
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 significant process-related errors. Especially in the context of high-quality or subsidized goods, fraud prevention is crucial.
NTS Retail offers a wide variety of functions that help to identify or prevent inventory-related fraud attempts such as seamless serial number tracking, stock additions via digital delivery notes (DBODs) and approval workflows for any goods movements.
Cash register fraud
A rather common kind of fraud is manipulation at the cash register. Zero amount transactions or retroactive cancelations are just some examples of potential fraud. Preventing such scenarios requires a proper user authentication concept, transaction approvals, and intelligent reporting capabilities.
NTS Retail offers highly reliable cash management with comprehensive permission control and a wide range of check mechanisms.
Telco-specific fraud cases
Telco-specific transactions such as selling complex product bundles with various pricing options and even handling bonus points, bill payments and top-ups open the door for a whole variety of fraud schemes.
A seamless integration of business support systems with the POS solution can help prevent any kind of fraud and user errors. Automated sales, billing and top-up workflows minimize the need for manual data entry and guarantee high system security.
Fraudulent goods returns or exchanges
There are plenty of different ways for customers to commit fraud when returning or exchanging previously purchased articles. Using counterfeit coupons, re-using vouchers or returning discounted products at full price are just a few examples.
By linking return transactions to original data sets and using sophisticated validation mechanisms and seamlessly tracking a product lifecycle with serial numbers, our system helps prevent most typical fraud attempts.