POS software has grown immensely in popularity among retailers thanks to its easy-to-use features and ability to speed up customer transactions. One thing that business owners and managers might not fully appreciate is that point of sale software developers such as Windward Software achieve this without sacrificing security.
Maintaining a secure sales environment is of the utmost importance because it:
- Protects both company and consumer data
- Enhances customer trust
- Reduces fraud and unauthorized transactions
Here are a number of features commonly found in POS software that help promote security.
1. Credit Card Processing
Since 2015, there has been a big push in the United States for retailers to switch from the traditional magnetic stripe credit cards to the more advanced chip-and-PIN-style cards. The reason is simple: counterfeit fraud reduction.
Before the change, card-present fraud in the US was above the global average. By using more stringent verification methods available through EMV (which stands for Europay, MasterCard, Visa), retailers are already starting to reduce the number of fraudulent transactions.
2. Signature Capture
For companies that conduct a lot of on-account business transactions, electronic signature capture is a very handy feature because it:
- Speeds up transaction times
- Reduces paperwork and filing
- Provides an audit trail
To build on the third point, an electronic signature capture provides a means recourse for companies in the event of a dispute because they are legally binding.
3. Serial Number Tracking
Not only does POS software with serial number tracking provide an enhanced level of inventory control, it also adds an element of security. The most obvious example is a gun store owner. In order to meet the requirements of Alchohol, Tobacco and Firearms (ATF) in the United States, gun shops must provided reports detailing the gun’s:
- Serial number
For any retailer that is required to track inventory after it has been sold, a point of sale software system with serial number tracking is the way to go.
For more reasons why more gun shops are turning to POS software, read our post: How Firearms Store POS Software Allows Owners to Target and Track Sales.
4. Administration Control
The previous points have all pertained to external security risks. But what about the potential threats within your company? POS software can help here too.
One of the goals of any business management system should be to empower employees so that they have the resources to do their jobs to the best of their ability. Part of that involves giving them access to your point of sale software.
That said, there’s no need to grant them access to areas of the system that won’t benefit them. By assigning employees with a password and a security clearance, you enable them to find the information they need, without compromising sensitive company data.
Do you need robust POS software that’s packed with security features to protect your company? Call Windward Software to learn how our fully integrated System Five software program provides a secure, yet profitable, sales environment.