The Integration of Appriss Retail’s Verify Solution with Veras

CheckOut 10.2 Reduces Return Fraud and Abuse While Improving the

Customer Experience

PHOENIX--(BUSINESS WIRE)--lt;a href="https://twitter.com/hashtag/NRF2018?src=hash" target="_blank"gt;#NRF2018lt;/agt;--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 Veras 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.”

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

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) 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.

Contacts

Bob Heptig

Veras Retail

Phone: 480-242-5337