Retailers lost a staggering $10.8 billion to return fraud in 2007, according to the National Retail Federation* – but Cornell-Mayo Associates (CMA) is helping retailers fight back. The company today announced the release of Omniwatch™ Returns Management, a returns management solution that protects retailers from shrinkage due to unauthorized returns, while improving the customer experience.
Omniwatch Returns Management helps retailers automate the returns process, while ensuring that returns are legitimate and not fraudulent. Additionally, the solution prevents the return of stolen merchandise and post voided items, identifies frequent return customers, and prevents items from being returned more than once. Omniwatch Returns Management can be easily integrated with CMA’s Omnistore™ and OPUS Millennium® POS systems; transaction information is stored in a central database and can be tracked by store, cashier, credit card number and tender type.
Omniwatch Returns Management not only gives retailers the upper hand in combating fraud but also improves the consumer’s return experience. With this technology, customers can buy in one store and return in another; return merchandise with or without receipts; and be assured of receiving the correct price when returning items.
“Fraudulent returns continue to plague the retail industry, but retailers can take control with Omniwatch Returns Management,” said Gene Cornell, president of CMA. “By streamlining the returns process, our solution will also help retailers provide faster, more consistent customer service that builds customer loyalty.”
Omniwatch Returns Management is available immediately from Cornell-Mayo and will be demonstrated at booth 1940 at the NRF 97th Annual Convention and Expo, Jan. 14 and 15, 2008. Cornell-Mayo will show its full range of industry-leading store solutions at NRF, including the OPUS Millennium POS software used by many of the nation’s tier-one department and specialty stores; and Omnistore, a robust, web-based solution for “store systems anywhere” created with the innovative Ruby on Rails™ web framework.
*National Retail Federation, 2007 Return Fraud Survey
About Cornell-Mayo Associates
Founded in 1981, Cornell-Mayo Associates (CMA) has an unmatched track record as a POS software provider: a 100 percent success rate in store system rollouts, through real-world POS solutions and unsurpassed technical expertise. CMA solutions have been proven by some of the industry’s best-known prestigious retailers, from department stores to high-service and specialty retail. Customers include Barnes & Noble Inc., Belk Department Stores, Bergdorf Goodman, Borders Books & Music, Boscov’s Dept. Stores, Last Call, Neiman Marcus, New Brunswick Liquor Corporation, Off 5th, Parisian, Saks Fifth Avenue, Talbots, and Tiffany & Co. CMA was recently named one of the top five vendors in 11 categories of the prestigious RIS News 2007 Software Leaderboard, including #1 in “Ease of Administration and Maintenance” and “Ease of Installation.” For more information, visit www.cornell-mayo.com