New York, NY (PRWEB) January 14, 2013
SIRAS.com, the Redmond-based subsidiary of Nintendo of America Inc. that provides retailers and manufacturers web-based services for tracking and authorizing sales and returns of products sold through major retail stores and web sites, announced today the availability of ReturnFlex™, a web-based data service that validates returns across all channels. ReturnFlex is a configurable, on-demand, and rules-based engine implemented in retailer point-of-sale systems that validates returns, including cross-channel returns, and ensures that they comply with retailer and manufacturer terms and conditions while optimizing the customer returns experience and reducing fraud. The service uses product purchase data collected through OmniTrace™, a cloud-based system of patented business methodologies that records each product’s unique identifier (UID) at multiple touchpoints including the point of sale to track and record the product’s history and to report its eligibility for return, warranty, and other post-sale events. Together, OmniTrace and ReturnFlex enable retailers to ensure that product returns are valid and that any refunds correspond with actual purchase prices, including promotional prices, and that they comply with retailer policy, retailer culture, and customer loyalty programs. The ReturnFlex service is already in use at eight leading retailers.
By validating the purchase history of a store item, and weighing a variety of uniquely-configured attributes, ReturnFlex helps reduce fraudulent returns, which the National Retail Federation estimates reached $2.9 billion in the 2012 holiday season.
“Most retailers have embraced the need for an omnichannel strategy, but many still struggle with returns management across their respective channels,” said Dimitry Erez, vice president at Boston Retail Partners. “Full adoption of the SIRAS solution, including ReturnFlex, up and down the supply chain will offer a holistic and easily accessible view of actionable product data, filling an important gap with retailers today.”
“ReturnFlex provides retailers with the visibility they need to make the best possible decisions about returns, balancing bottom-line profitability with goals for creating a positive customer experience,” said Peter Junger, president of SIRAS.com. “Today if a customer tries to return an item without a receipt, the retailer is forced to guess about the history of the product—where and when it was purchased and at what price. The product might have been purchased on sale or at another retailer, it might be an old product in a new product’s box, or it might not have been purchased at all. By retrieving and validating information tied to key unique identifiers and configured attributes, ReturnFlex provides an easily accessed, authoritative record about product history, enabling retailers to make the most cost-effective and business-savvy decisions about returns. The solution also streamlines the return process overall, reducing employee training needs, optimizing manager interventions, and providing a better, faster experience for customers, including customers returning items without receipts.”
ReturnFlex supports sophisticated return policies that consider variables such as holiday specials and customer loyalty programs. For more information about ReturnFlex and other SIRAS omnichannel solutions for retailers and manufacturers, please visit http://www.SIRAS.com.
SIRAS (http://www.siras.com) is the pioneer in Electronic Registration (OmniTrace™) and comprehensive return-validation methodology (ReturnFlex™), which allows participating retailers and manufacturers to optimize their retail business operations, and to provide customers with a seamless omnichannel experience. SIRAS helps clients improve customer satisfaction, protect and elevate their brands, track products, reduce returns and fraud, protect inventory, recover stolen products, identify counterfeit goods, validate warranties, and improve forward and reverse logistics operations. By tracking each product throughout its sales lifecycle by its unique “fingerprint” rather than by customer data, SIRAS respects and preserves consumer anonymity. SIRAS provides valuable tools for its manufacturing, retailer and law enforcement partners to optimize operations, resolve investigations, improve visibility, business intelligence and forecasting, and improve the consumer experience.
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