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Showing posts with the label cash drawer

CONTROLLING INVENTORY SHRINKAGE

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  Retailers everywhere are haunted by shrinkage. With theft and cash register errors being two of the main concerns, retailers constantly face the challenge of keeping their inventory up to date. Get an all-in-one POS or  Point of Sale System  with inbuilt inventory tracking and security features that perform accurate reporting, reconciliation, and analysis to push losses due to inventory shrinkage on a downward trend. PREVENTING THEFT AND FRAUD A bane in brick-and-mortar stores, inventory shrinkage is primarily attributed to theft and fraud. Most of these scams happen at the cash register levels, at the time of customer service, and in the warehouse. These could be in the form of fake sales, return goods fraud and purchase swindles. Minimise or even eliminate all these errors with OVERSEE POS systems About 38% of bulk inventory shrinkage is shoplifting, while employee theft is around 34.5% (data from the National Retail Security Survey – 2015). Another piece of data in t...

WHY POS HARDWARE ARE IMPORTANT?

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  It is a common misconception that the POS or Point of Sale system performs only sales and return transactions. In reality, it does a lot more. Tracking inventory, expenses and scanning products for a systematic entry are just some of the basics performed by the POS. Today, every brick-and-mortar business, however small they may be must possess a POS to ensure that their operational workflows are seamless. BACKGROUND There are several input and output devices available to enable POS software functionality. These are operable across any modern landscape, be it a restaurant or a retail business in the forms of an iPad, traditional computer setup and anything that happens to be in between. In the end, the specific software is meant to align itself with the POS hardware to perform necessary tasks such as printing receipts through a printer, scanning the bar code through a scanner and accepting payments into the system through a card reader. If the customer is to scan a QR code, the...