Point of Sale (POS) are software and systems that help a business to sell products and services to customers. POS systems will often integrate with other parts of the business to maximize revenue. POS systems can be vulnerable to employee fraud and theft.
Terms related to Point of Sale: POS, losses, employee theft, employee fraud.
A POS system is most commonly used when providing products and services to customers in the physical environment — for example, retail stores, restaurants, hotels, and other establishments. POS systems can also be used by eCommerce stores to allow for ordering, payment, and distribution of goods.
Most POS systems are made up of several distinct areas including cash registers, receipt printers, barcode scanners, credit card readers, and more.
Unfortunately, many POS systems are vulnerable to losses through employee theft. This may be through direct stealing, or through providing low cost of free products and services to friends or family. It’s estimated that dishonest employees are responsible for over 30% of all shrinkage in retail and hospitality.
Businesses can protect against some of this theft and shrinkage through using authentication methods like biometrics to tie transactions back to specific individuals. This can prevent employees from processing voids, opening the cash draw, or providing discounts without authenticated management approval.