If you sell telco products read this.

Although I cannot go into the details here, over the last few months, we have been involved in an investigation on overcharging of a seller of telco and some other products. The figure lost is estimated in the last audit is 7087 products, worth about $191,000.

In the process of the investigations our programmers have identified a major security hole in the processing of telco products. If you consider that one average seller could lose $191,000 you get an idea of potentially how big a problem it could be.

Lucky for this seller they had our point-of-sale system which has a comprehensive telco card historical recording facilities. As such we could verify all of our clients' claims. However I am sure many resellers of telco products would not be so lucky and the money is lost.

The investigation now seems to have gone south so much so that I blasted the investigator as incompetent. So currently the investigator refuses to talk to me. Like I told him, my client comes first, and I do not believe you are looking after their interests.

What can be done?

  • The invoices and statements from the telco suppliers need to be checked?
  • Balance them with what your End of Day slips show.
  • Then randomly check many of the statements to see if the dates, quantities, the arithmetic and the products are correct.

If this had been done in this store about $191,000 would have been saved.