Page 190 - DMGT553_RETAIL_STORE_MANAGEMENT

Unit 10: Cash Management

Notes
leakage from sloppiness, dishonesty or just plain honest mistakes. For example, did you
know that more than 35% of all employee theft occurs at the register?
Thieves in the House
Don’t let unscrupulous employees undue the results of your hard work by draining the till
and your bank account.
RedPrairie Cash Management is an automated closed-loop system that tracks cash and
payments from the moment they leave customers’ hands until they are safely deposited in
your bank account. Since personally monitoring every transaction at every register is
impractical, Cash Management extends your capabilities, giving you a powerful and
effective loss prevention tool.

A Flexible System for Many Different Retail Environments
RedPrairie Cash Management seamlessly integrates with many different POS systems to
ensure proper handling of all payments. The system can also be set up for corporate or
franchised environments. RedPrairie Cash Management lets you:

Monitor and track all payments from the point of collection
Automatically reconcile payments against sales

Create integrated analyses of transactions and inventory
Generate reports to assess employee performance
Watch Key Performance Indicators and generate alerts for evidence of theft or fraud,
such as number of transactions or excessive voids, cancels or coupons

You work hard for the revenue in your stores. Make sure that you can account for every
dime with RedPrairie Cash Management.

Source: http://www.redprairie.com/cash-management

10.4 E-Tailing

E-tailing is the selling of retail goods on the Internet. Short for “electronic retailing,” and used
in Internet discussions as early as 1995, the term seems an almost inevitable addition to e-mail,
e-business, and e-commerce. E-tailing is synonymous with business-to-consumer (B2C)
transaction.
E-tailing began to work for some major corporations and smaller entrepreneurs as early as 1997
when Dell Computer reported multimillion dollar orders taken at its Web site. The success of
Amazon.com hastened the arrival of Barnes and Noble’s e-tail site. Concerns about secure
order-taking receded. 1997 was also the year in which Auto-by-Tel reported that they had sold
their millionth car over the Web, and Commerce Net/Nielsen Media reported that 10 million
people had made purchases on the Web. Jupiter research predicted that e-tailing would grow to
$37 billion by 2002.
E-tailing has resulted in the development of e-tailware – software tools for creating online
catalogues and managing the business connected with doing e-tailing. A new trend is the price
comparison site that can quickly compare prices from a number of different e-tailers and link
you to them.

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