Originally Published in The Retailer: February 24, 2020
Now that the book has closed on the busiest season of the year, retailers are assessing errors, losses and a flurry of returns due to the large volume of transactions. Add to this the need to close out special deals and promotional funding programs by the fiscal year deadline, which for many can be end of Q1 2020.
While this can seem like a recipe for post-holiday blues, taking the right steps early in the new year can make all the difference. Two tactics make the most impact – first, know where to look to detect and recover any errors that may have occurred — then take steps to improve processes going forward.