Security is at the top of many business leaders’ minds today. There’s good reason for that. Cybercrime, data breaches, and fraud all seem to be on the rise.
One of the most important factors in your business’s security is your point-of-sale system. These five tips show you how to improve security with your POS system.
1. Reduce the Risk of Fraud
The right POS system can reduce the risk of fraud in your business. For one thing, your employees no longer need to handle customer cards. This improves customer control over cards, card numbers, and PINs.
The right system can also encrypt data, which makes it more difficult for would-be data thieves to intercept.
2. See Patterns in Data
Data collection and analysis allow you to see trends in the business. That can help you detect potential fraud early.
An example is how a POS system can link transactions to individual staff members. If you notice a trend in a particular staff member’s transactions, you may open an investigation.
3. Encrypt and Store Sensitive Data Securely
In addition to encrypting data at the source, many modern POS systems also have the ability to store your sensitive payment data. This might include encrypting the information, then storing it on a secure cloud server.
Cloud storage can be even more difficult for hackers to get into, as many cloud providers use only the latest security technology. For a small business, that translates to better security with a lower cost.
4. Keep a Better Eye on Accounting and Inventory
Smart POS systems connect to your accounting and inventory with ease. This makes it simpler for you to spot discrepancies between sales and stock or tills and the books.
Again, this ability allows you to catch discrepancies early and reconcile them sooner. It also allows you to identify patterns and put a stop to fraudulent activity in your business.
5. Tighter Controls Limit Access
You might be worried about would-be data thieves sitting in your parking lot with magnetic readers, but your staff members can also pose a threat. They can inadvertently or even maliciously misuse sensitive payment data.
The right POS system protects against this by providing you with more granular access controls. This lets you limit who can access what data. When only those who need to see the data have access to it, your data will be much safer.
Ready to get a POS system that can help you boost security in your business? Get in touch with us! We have a wide range of POS systems, all designed to keep your business safer.