Receipt Voids
Some cashiers will void an entire ticket after the transaction and pocket the money if someone pays with cash. KORONA retail loss prevention software system includes customizable features that require authentication.
Item Voids
Prevent cashiers from voiding individual items, too. Even if you decide to allow voids, all actions will be recorded in each staff member’s shift report.
Receipt Cancellation
Another common theft tactic is to erase a ticket prior to tender if the customer pays with cash. KORONA doesn’t allow the final item on the receipt to be erased, prompting a printed void receipt to document the action.
Force Drawer Closing
KORONA’s retail loss prevention software doesn’t allow any new actions if the drawer is open. This stops cashiers from operating with the drawer slightly ajar and accessible at all times.
Receipt Voids
Some cashiers will void an entire ticket after the transaction and pocket the money if someone pays with cash. KORONA retail loss prevention software system includes customizable features that require authentication.
Item Voids
Prevent cashiers from voiding individual items, too. Even if you decide to allow voids, all actions will be recorded in each staff member’s shift report.
Receipt Cancellation
Another common theft tactic is to erase a ticket prior to tender if the customer pays with cash. KORONA doesn’t allow the final item on the receipt to be erased, prompting a printed void receipt to document the action.
Force Drawer Closing
KORONA’s retail loss prevention software doesn’t allow any new actions if the drawer is open. This stops cashiers from operating with the drawer slightly ajar and accessible at all times.
More Retail Theft Prevention Features From Your POS System
Price Changes
Add authorization measures for attempts to add impromptu discounts to any sale. Don’t let cashiers give out friendly discounts to whoever they please.
No Sale Tender
A blank receipt is often cashed out to open the drawer. KORONA allows you to prevent this from happening. It’s better to have the cash drawer closed as much as possible.
Blind Balance
Add a setting that requires employees to drop their cash drawer blindly at the end of the shift. This allows you to notice patterns and pick out bad apples.
Inventory Management
With in-depth inventory and reporting, you’ll be able to quickly identify discrepancies and take care of the problem quickly before too much is lost.
More Retail Theft Prevention Features From Your POS System
Price Changes
Add authorization measures for attempts to add impromptu discounts to any sale. Don’t let cashiers give out friendly discounts to whoever they please.
No Sale Tender
A blank receipt is often cashed out to open the drawer. KORONA allows you to prevent this from happening. It’s better to have the cash drawer closed as much as possible.
Blind Balance
Add a setting that requires employees to drop their cash drawer blindly at the end of the shift. This allows you to notice patterns and pick out bad apples.
Inventory Management
With in-depth inventory and reporting, you’ll be able to quickly identify discrepancies and take care of the problem quickly before too much is lost.
KORONA Is The Trusted POS Solution For Thousands of Businesses Like Yours
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Points of Sale
Retail Loss Prevention Techniques Can Save Your Business Thousands
Customizable Security Features
Each of KORONA’s theft prevention features are built to be fully customizable for each business. There is no one-size-fits-all with our software.
Back-Office Access
Easily protect your business from employees entering the back-office system to alter prices so that they can purchase or sell items at a steep discount.
Allowed Balance Difference
Set whatever level of balance difference you deem acceptable. If an employee is within that range, they won’t be asked to verify their balance again.
Balance Verification by Register or Cashier
Checking the balance of each cashier is ideal, but it doesn’t work for all businesses. If not, you can just run balance reports for each terminal instead.
Retail Loss Prevention Techniques Can Save Your Business Thousands
Customizable Security Features
Each of KORONA’s theft prevention features are built to be fully customizable for each business. There is no one-size-fits-all with our software.
Back-Office Access
Easily protect your business from employees entering the back-office system to alter prices so that they can purchase or sell items at a steep discount.
Allowed Balance Difference
Set whatever level of balance difference you deem acceptable. If an employee is within that range, they won’t be asked to verify their balance again.
Balance Verification by Register or Cashier
Checking the balance of each cashier is ideal, but it doesn’t work for all businesses. If not, you can just run balance reports for each terminal instead.
There are many ways to minimize retail loss. Optimize your retail floor plan for visibility by keeping aisles short and your POS system near the exit. Add basic theft prevention devices like warning signage, mirrors, and sensors. Train your staff to look out for suspicious activities and keep employees stationed throughout the floor and near the doors. Retailers can also consult their point of sale for in-depth product and inventory reports. Perpetual counts in real-time mean that you have up-to-date information and shift reports can help identify worrisome activity from your employees. Retail loss prevention requires a holistic, thorough approach.
Retail loss prevention is the process of minimizing the loss of any products in your catalog. This includes loss of any kind, such as shoplifting, internal theft, spoilage, and supplier mistakes.
Use common best practices to protect your business. Try to allocate a portion of your budget to protection, potentially including security personnel, cameras, and anti-theft devices. Get a point of sale that can help you identify any problems. Real-time inventory updates, perpetual counts, in-depth KPIs, and employee shift reports can all help prevent loss. Finally, common sense and proper training will also help prevent theft or other forms of loss.
The most common causes are theft and spoilage. Retail theft still costs retailers tens of billions of dollars each year. And spoilage is nearly as bad. 40% of food in America, for instance, is lost to spoilage.