Veras Retail, a US based provider of fixed and mobile point-of-sale, inventory, cross-channel execution and CRM software solutions, recently released Veras CheckOut 10.2 point of sale (POS) solution. The release includes integration with solutions from Appriss Retail in order to deliver significant ROI for retailers looking to improve customer service at the point-of-return.
Integration with Apriss Retail’s innovative return authorization technology, Verify is now available in the latest version, Veras CheckOut 10.2 point-of-sale solution. It offers a powerful pricing engine, enterprise-wide visibility into inventory levels and the ability to access customer information and orders across all the selling channels.
According to a 2018 report, estimates of return fraud and abuse in the United States is as high as US $ 24 billion per year. The combined Veras Retail and Appriss Retail offering provides a cost-effective and powerful solution so as to improve the return experience as well as combat fraud.
“The balance between providing frictionless customer service and ensuring loss prevention has always been challenging for retailers. We feel that the new features in Veras CheckOut 10.2 give retailers the tools to strike a perfect balance between those two key business drivers and bring tangible ROI.” – Bruce Herrier, Vice president , Veras Retail
Veras CheckOut 10.2 provides functionality to address a common friction point between loss prevention and customer service by allowing manager overrides to be remanded until the end of the transaction or approved remotely from a mobile device. This capability allows retailers to shape their security policy in a way that customers need not be inconvenienced by application of anti-fraud controls at the point-of-sale.
On the other hand, Appriss Retail’s Verify solution uses actual, individual consumer behaviour data in order to provide a fair, objective decision to accept, warn or deny merchandise returns.
Now the retailer doesn’t have to be depended on simple rules or subjective observations and guesswork by the sales clerks. The software is designed to distinguish and block the one percent of consumers whose behaviours mimic return fraud or abuse, thus creating a positive customer experience. Retailers can quickly approve all legitimate returns while addressing only those customers that present with highly suspect return and exchange behaviour.
Herrier added that for many customers, implementing Veras CheckOut 10.2 with Appriss Retail’s Verify can pay for itself within the first year of implementation.