Retail Software Receives Patents
Irvine, Calif.–based software developer The Retail Equation recently received patents for several of its software products that help retailers prevent fraud abuse and streamline the returns and exchanges processes.
One system collects data on returned goods and establishes a return-authorization system based on various criteria, which helps retailers decide whether or not to accept a return at the point of return. Another product helps prevent abuses in returns and exchanges by comparing variables such as return frequency, dollar amounts and time against a set of statistical models and rules that form that particular retailer’s return policy.
For more information, visit www.theretailequation.com. —Robert McAllister
