Even companies that suspect warranty frauds are not sure how to tackle them. Traditional tools for fraud detection are ungainly. They cost too much time, effort, and money. The huge bulk of claims with clumsy data make it difficult, even for experienced personnel trying to verify claims and detect frauds individually. Therefore, companies choose to bear the cost of frauds thinking that they could at least save time and effort.

Cutting expenses and building a loyal customer base is about balancing the two, because warranty processes are too intricate. Claims management, appeals, and audits are daunting enough. Add to it parts-return and cash-recovery from suppliers. Then there are product engineers, dealers, and distributors to be held accountable, and customers scattered across the globe.

Powerful and cost-effective tools

Powerful software solutions can process large volumes of data and quickly detect fraud by using cutting-edge approaches. Day by day, their features keep improving because of special programming techniques. Improving the user interface is also one such capability. Web 2.0, HTML 5, Mobility, and Cloud-based SaaS model are making software solutions increasingly affordable. Going by the SaaS model, you need not invest heavily on one-time purchases or licence fees. Most services provide free trials as well. You can opt for monthly and annual subscriptions on a need basis. If you are not really happy with the service, or if you want to experiment another software solution, you can unsubscribe at any time.

Predicting frauds

Predictive analytic uses advanced statistical and data-mining capabilities, and helps identify claims with high probability of fraud. Such software functions enable manufacturers to:

• Process historical data on claims and create models that help identify patterns and anomalies
• Identify factors that hint at greater probability of fraudulent claims
• Identify suspicious claims and refer them for expert scrutiny
• Integrated workflows help to trace quality issues to the suppliers concerned, helping in quick recovery of costs
• The system maintains master data of all suppliers, dealers, channel partners, finished products, and components. Applying dynamic business rules to such exhaustive data can generate reports as soon as claims are submitted, letting personnel know about the suspicion of fraud.

A California-based IT company specializing in the warranty management domain, has a host of solutions for various levels—Enterprise Warranty Management, Fraud Analytics, and Cloud-based Warranty-On-Demand. Their web-based, full-lifecycle warranty solution brings together OEMs, suppliers, and service-channel partners under a real-time environment. The solution has proven benefits, enabling reduction in warranty spend, elimination of fraudulent claims, reduction in claim-processing time, increase in supplier recovery, and facilitation of informed decisions based on dynamic warranty intelligence reports.

Author Bio

Preethi vagadia is currently a Senior Business architect with the Service operations practice at a well-known IT Industry in Bangalore. She has worked in several process improvement projects involving multi-national teams for global customers. She has over 8 years of experience in Warranty administration services and has successfully executed several projects in Logistics management, Logistics Integration, Reverse logistics, Warranty software and Programmatic Solutions.

Fingerprint Reader

The custom biometric fingerprint readers are simply used to control the access to safe rooms, gun cabinets and homes. The custom readers are usually made up to match up the home decor and are very much secured. Installing this device can only allow certain specific people only inside the secured place via a single door and then access specific rooms on particular day and time.




Virtual Fence

Such types of fences are installed at nuclear sites, VIP homes and correctional facilities. Then sensor cables are buried inside the ground and then can be integrated within the closed caption TV cameras in order to detect any preaches being attempted over the perimeter.  With added software, the product comes up with capability in order to send out text message to the police or the homeowner whenever you find any kind of breach working out.

Thermal Imager

This is a hand held and high-resolution thermal images, which is employed simply to locate and detect the concealed surveillance equipment that is hidden in offices and homes. A majority of electronic surveillance equipment simply emits out infrared radiation or heat, which are detected with these ultrasensitive imaging devices.




Micro GSM Based GPS Tracker

This particular device can be easily attached to shoes, collars and clothing and even could be embedded into the backpacks in order to help in tracking the pets and children by rending the GPS data in case if they are lost or abducted. The information about the child or pet’s current location can be easily sent out electronically to their parent or owner’s cell phone device. And the best part is these devices aren’t that costly you can get them at the rate ranging from 250 to 450 dollars per tracker, which makes it accessible both the to the poor and rich people.

Hailing devices

It is a long range acoustic hailing device, which broadcasts the powerful deterrent tones and a number of multi-language voice commands up to 2 miles distances in order to prevent the pirate attacks and thus warn the fishing boats and several other approaching ships in order to stay away while your boat or yacht is approaching. These devices simply generate a much focused kind of acoustic energy in order to ensure that your voice commands could be heard clearly and then understood easily by ships, which do not respond to your radio calls and thus help in creating big standoff zones over your boat.  see informations on security guard requirements

Your business website is a vital portal for getting your company and its products or services the recognition and reach it deserves, but protecting it from hackers is a challenge faced by businesses of all sizes.

More and more small to medium enterprises are being compromised by hackers and every day search engines like Google and Bing identify some 9,500 malware infected websites, which if encountered could leave your website, its customers and sensitive data vulnerable. But how can you ensure your website is safe from hackers?

Update Software Regularly

Keeping your software up to date is a simple yet highly effective way to ensure your security is up to scratch when defending against the latest and greatest malware threats online. Hackers and their techniques are continuously evolving and the latest versions of your anti-virus, anti-spyware and firewall software must be applied to ensure your website is protected and any vulnerabilities within your system are resolved.

Content management systems such as WordPress are particularly vulnerable to hacker attack so don’t ignore messages to update!

Password Protection

Amazingly 75%-80% of security breaches occur due to weak passwords on administration panels, which means it’s time to toughen up your password policy on both the front and back end of your website.

Make it compulsory that your employees and customers follow a few rules when creating and renewing passwords to ensure your website and its sensitive data are given a fighting chance! Insist on passwords being a minimum length (the longer the better) and contain a combination of symbols, numbers and mixed case letters. In addition to this, enforce a password duration policy so that passwords are renewed by employees and customers on a regular basis. It is recommended that password changes take place every 30 to 180 days.

Enlist Penetration Testing

Recruiting an ethical hacker to fine tune the security of your IT infrastructure is highly recommended and can quickly close the loopholes hackers and fraudsters aim to exploit to gain access to data and other information. Penetration testing is a particularly important service offered by information security companies, and using the latest hacker techniques specialists simulate a cyber attack to expose your network’s weak links. Measures can then be taken to resolve these vulnerabilities and reduce the risk of a security breach once more.

E-Commerce Supported Platforms

Utilising a platform that supports your activities as a merchant and online business is an essential part of protecting your website from its development onwards. Whilst there are a variety of open source platforms that allow developers to add e-commerce functions, finding one that provides an optimum level of security when handling sensitive data at the point of sale is vital. Supported platforms that conceal the administration panel from public view are also commended.

Storage of Sensitive Data

As we aim to learn from the mistakes of the Target security breach in recent months, where around 70 million customers’ credit and debit card details were targeted by hackers, many businesses are thinking twice about how they store data.

In the UK, merchants are advised not to store ANY sensitive data to enhance information security and any merchant that fails to follow the strict guidelines of the PCI Security Standards Council face fines, penalties and even service termination. Take a leaf out of this book and store only the bare minimum data for use on chargebacks and refunds.

SSL Authentication

The lack of authentication on e-commerce websites also presents a major threat and SSL authentication is a must for the secure transaction of goods and services. SSL actually encrypts sensitive data such as credit / debit card details and user passwords to make it illegible to everyone other than its intended recipient, meaning hacker and fraudsters don’t get a look in!

The author of this post is Brittany Thorley. She is a business blogger who regularly shares her expertise about ethical hacking and penetration testing so business owners everywhere can find the security solution they have been searching for.