[January 09, 2019] |
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Veras Retail Announces New Customer-Centric Loss Prevention Features in Its Leading Point-of-Sale Solution
Veras
Retail, a leading provider of fixed and mobile
point-of-sale, inventory, cross-channel execution and CRM software
solutions, today announced the release of Veras
CheckOut 10.2. This release includes integration with solutions
from Appriss
Retail, the industry leader in retail performance improvement,
to deliver significant ROI for retailers looking to improve customer
service at the point-of-return.
Integration with Appriss Retail's innovative return authorization
technology, Verify®,
is now available in the latest version of Veras Retail's leading
point-of-sale solution. Veras
CheckOut offers a powerful pricing engine, enterprise-wide
visibility into inventory levels, and the ability to access customer
information and orders across all selling channels. Users at the
retailer's headquarters benefit from real-time access to POS transaction
information.
Estimates of return fraud and abuse in the United States run as high as
$24 billion per year, according to a 2018
report. For every $100 in returns, fraud and abuse costs retailers
up to $6.50 in losses. The negative impact on a retailer's bottom line
is undeniable, but the combined Vera Retail and Appriss Retail offering
provides a powerful and cost-effective solution to improve the return
experience and combat fraud.
Appriss Retail's Verify solution uses actual, individual consumer
behavior data to render a fair, objective decision to accept, warn or
deny merchandise returns. The retailer no longer needs to rely on simple
rules or subjective observations and guesswork by sales clerks. Verify
is designed to distinguish and deter the one percent of consumers whose
behaviors mimic return fraud or abuse. This creates a positive customer
experience, since retailers can quickly approve all legitimate returns,
while addressing only those consumers that present with highly suspect
return-and-exchange behavior.
Veras CheckOut 10.2 also provides functionality to address a common
friction point between loss prevention and customer service by allowing
manager overrides to be deferred until the end of the transaction - or
even approved remotely from a mobile device. This capability allows
retailers to tailor their security policy in such a way that customers
need not be inconvenienced by application of anti-fraud controls at the
point-of-sale.
Bruce Herrier, Vice President of Veras Retail, said, "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. For many customers, implementing Veras CheckOut 10.2 with
Appriss Retail's Verify can pay for itself within the first year of
implementation."
The Appriss
Retail ROI Calculator can help retailers determine the additional
ROI Verify brings to their Veras CheckOut implementation.
"Our retailer clients are pleased at the quick ROI from return
optimization," said Tom Rittman, Vice President of Marketing at
Appriss Retail. "Veras CheckOut 10.2 with Verify already integrated
into the solution ensures that retailers will see benefits immediately.
They need to manage only one implementation to address multiple business
issues, and every day faster is money in the bank."
To learn more, visit the Veras
Retail website, or schedule
a meeting with Veras Retail (booth #1049) at the National Retail
Federation: Retail's Big Show, Jan. 13-15, 2019 in New York, NY.
About Veras Retail
Founded in 2008 as Zoftec LLC, Veras Retail builds unique and innovative
software solutions to connect with consumers at the point of
decision. It starts at the store, providing point-of-sale/mPOS,
inventory, cross-channel execution and CRM applications.
Headquartered in Phoenix, Ariz., Veras is focused on using technology to
foster enjoyable, meaningful, and profitable interactions between
retailers and consumers. Veras POS solutions power more than 130,000
lanes every day in over 50 retailers around the world. Learn more at verasretail.com.
About Appriss Retail
Appriss Retail, a division of Appriss Inc., provides artificial
intelligence-based solutions to help retailers protect margin, unlock
sales, and cut shrink. With more than 20 years of retail data science
expertise, the company's Software-as-a-Service (SaaS (News - Alert)) platform generates
advanced analytical insights and real-time decisions that drive action
throughout the organization, including operations, finance, marketing,
and loss prevention. Its performance-improvement solutions yield
measurable results with significant return on investment among retail
store, ecommerce, and inventory functions. Appriss Retail serves a
global base of leading specialty, apparel, department store, hard goods,
big box, grocery, pharmacy, and hospitality businesses in more than
100,000 locations (brick and mortar and online) in 45 countries across
six continents. For more information about Appriss Retail, visit https://apprissretail.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190109005102/en/
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