Point of Sale (POS) Security Tips: For Preventing/Reducing Fraud and theft in stock.

Point of Sale (POS) Security Tips: For Preventing/Reducing Fraud and theft in stock.The introduction of the Cashless Society into the Nigerian economy has brought about attendant benefit of easy audit trail for Nigerian Business Men and Women. Nearly 50% of retail business pilfering and stealing comes from employee theft. This poses more risk thank retailers think and it’s something every business owner should take seriously.

As a plan to maximize the potentials of POS for easy audit trail using POS Software, follow the following ediaro.com security tips:

  1. Require store managers to review register transactions every day – look for excessive openings of the drawer, small cash refunds, returns, etc. (Important Tip: Make sure your employees can see you or a manager reviewing this information. Don’t hide in the back room because just by letting them watch you can reduce more theft than anything.)
  2. Look at your “voided/cancelled/deleted sales report” every day.
  3. Look at your “returned transactions” report every day.
  4. Use common system passwords. Traditionally, POS systems are configured using standard/vendor supplied passwords to simplify ongoing support, from the operating system’s administrator password to the account used to log into the POS software. The issue with using standard passwords is the challenge of changing those passwords when an employee is terminated or if the password is made public. Ensure you change default system passwords.
  5. Do not share passwords so your cashiers can logon with a different username – each user should have their logon username and password.
  6. Add password protection/security to all areas of your software and ONLY allow employees to access what they really need.
  7. Unneeded services and user accounts should be turned off with a few clicks to instantly remove their associated security implications.
  8. Look at your “inventory adjustments report” every day.
  9. Look at your “profit margin reports” every day. If your margins are low in a certain category for that day, then you should do a little research to find out why.
  10. Keep your inventory count accurate.
  11. Make it common knowledge with your employees that your stock is constantly monitored in your POS system.
  12. The POS device should always stay within the merchant’s control, especially for Portable POS.
  13. Secure the access to your customer’s personal information in your POS software… particularly, their credit card information!
  14. Clerk/merchant staff should be very vigilant of their surroundings to prevent “Shoulder surfing” from other people standing nearby in your store – which could brew bad customer perception about your store.

To get extensive safety tips about POS, ATM security tips, online order, merchant online store security tips among others, get a copy of the upcoming book by Abdulazeez Idiaro: Safeguarding yourself and business from fraud in a cashless societyyou can register for launching date newsletter at: http://safeguardingyourselfandbusinessfromfraudinacashlesssociety.ediaro.com

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