POS Software Must Be Agile, Accurate and Secure
Modern day retail point of sale software systems have come a long way over the years. Transactional complexities and nuances of the retail industry requires sophisticated technology that performs a myriad of functions and most importantly, assures that safety, security, accountability, reliability and accuracy are paramount. The fast paced world of today’s POS environments demands user-friendly software that can handle transactions with agility to maximize profits without sacrificing precision. Every second and every penny counts within POS systems and end users want to have the faith and peace of mind that the technology they use is going to ensure maximum returns on investment (ROI) and build sustainable profit margins while at the same time minimizing fraud and waste.
How Biometric Technology Can Help POS Establishments
More and more retailers and restaurants are turning to hybrid biometric technology as a trusted component of their POS systems to meet the strenuous demands of the industry and incorporate secure systems that hedge against losses by boosting accuracy and security for transactions. Fingerprint recognition has become the mainstream biometric modality of many POS systems but as biometric technology has evolved, many end users are choosing biometric readers such as finger vein, palm vein and iris recognition as their modality of choice due to the inherent benefits that are included such as lower False Acceptance and False Rejection Rates. What are some of the driving forces behind the migration to biometric technology from the POS perspective? Let’s examine a few:
#1 – Loss Prevention – Although retailers like to believe in the honesty and integrity of their workforce, there is a need to adopt modern POS loss prevention technologies that will safeguard a business, curb fraud and maximize profits. There have been countless news stories and reports of retailers being scammed and ripped off from unscrupulous employees through false returns, phony transactions and antiquated POS systems which allow for loopholes to fraudulent transactions. Have you ever caught an employee or a group of employees who collaborate on ways to trick and fool your current POS system where they simply pocket the proceeds or intentionally skim or siphon money from the top? Maybe you have adopted swipe cards as a security measure only to learn of employees sharing cards and using them for corrupt purposes. Biometrics adds a layer of security to your POS system by ensuring that only one individual can access their own account and must be physically present when executing transactions, eliminating barcode card swapping or sharing of ID #’s while establishing a concrete audit trail.
#2 – Workforce Management – Biometrics can also be used to capture critical employee time and attendance data providing a much more affordable alternative than a wall mounted time clock and maximized security over card scanning systems. If you have hourly employees and straightforward time calculations, leveraging biometrics to ensure data accuracy and eliminate buddy punching is an important step in establishing more efficient workforce management practices.
#3 – Elimination of Card Scanning and PIN #’s – As mentioned earlier, biometric technology eliminates the need for card scanning or entering PIN#’s. Magnetic stripe cards or barcode cards can be shared which promotes fraudulent or nefarious activity. They can also be lost which incurs an expense and waste of resources to manufacture a replacement card, or forgotten entirely creating unnecessary misspent resources and productivity interruptions. If you have a PIN # policy in place, chances are that employees regularly forget their PIN #’s, creating unnecessary work for your IT help desk who have to frequently reset the pass codes. In fact, a recent report by Gartner Research claimed that as much as 40% of an IT help desk’s time is spent resetting pass codes for employees. Imagine the productivity increases if you could eliminate that time drain completely and allocate those resources elsewhere. Biometrics affords that opportunity by removing the need for password management and allowing POS establishments to focus on their core competencies.
Biometric POS Software Systems are Affordable and Proven
The initial reaction to implementing a biometric POS software system is that it is not affordable. It costs too much, hasn’t been around long enough to be a proven benefit and no one has a positive experience from the technology. In reality, biometric technology is very affordable since its applications have become much more mainstream and more POS businesses are taking advantage of unique biometric technology characteristics that set it apart from other technologies like RFID, barcode cards or PIN #’s. In addition, many businesses have used biometric technology successfully and proven its worth through tangible returns on investment (ROI). The first step in determining whether a biometric POS system will help you eliminate fraud and waste while increasing security and accountability is to evaluate your needs and then talk to a professional for guidance on what system is the right one for you and how much that will cost. We are here for you. Reach out and let us know how we can help.
How can implementing biometric point of sale software help you?