Initial Idea Presentation for CS410 Instant Receipt Tracker Online Database

1. Initial Idea Presentation for CS410 Instant Receipt Tracker Online Database Fall 2009

2. Outline • Introduction • Problem Statement • Customer • Current Return Policies • Solution • Solution Process Diagram • Competition • Hardware/Software • Benefits • Potential Problems • References

3. Introduction • Computer Science Major • Graduating in May 2010 • Currently working as a government civilian for SPAWAR • Supporting Next Generation Enterprise Network (NGEN)

4. Problem Statement • Consumers usually purchase products without the intent of having to return them. Thus, causing them to discard of the receipt. • However, sometimes products need to be returned (i.e. clothes not fitting properly, malfunctioning equipment, etc.). • In some cases, receipts are required to return a product. Therefore, if you don’t have the receipt, you are stuck with a product that you do not want.

5. Customer • Any consumer, currently possessing a credit/debit card, that wishes to automatically retain copies of receipts • For example, this would include frequent shoppers of Overstock.com, Target, Wal-Mart and Best Buy, etc.

6. Current Return Policies • Overstock.com • “up to a 30% restocking fee for some open, used, or late items”1 • Target • “technically offers no returns without a receipt, but has an undisclosed policy of allowing a limited number” 1 • 90 days from purchase 2 • Wal-Mart – 90 days from purchase2 • Best Buy3 • 14 days for computers, monitors, projectors, camcorders, digital cameras, and radar detectors • 30 days for all other products • in some instances, a restocking fee applies 1http://www.consumerworld.org/pages/returns.htm 2http://www.mouseprint.org/2007/12/24/retailers-return-policies-the-2007-fine-print/ 3http://www.bestbuy.com/olspage.jsp?type=page&contentId=1117177044087&id=cat12098

7. Solution • Utilize credit card machines that are currently in place at retail stores • When a consumer purchases products with a credit/debit card, the information on the receipt for the transaction would automatically be stored in a online database • Consumers would subscribe to this database, thus having the receipt information readily available

8. Solution Process Diagram Purchase information is sent to bank Consumer makes a purchase Consumer is able to view receipt information using a web interface Bank processes information and stores receipt information in an online database

9. Competition • Handheld receipt scanner • Allows you to scan receipts easily • Pro – do-it-yourself tool • Con – not as instantaneous or readily available as the Instant Receipt Tracker Online Database

10. Hardware/Software • Utilize existing credit card machines in retail stores • Database to store receipt information • Web interface for consumer access • Anticipated Cost: • ~$10K • This includes initially designing and building the database and web interface for consumer access

11. Benefits • Instantaneous recording and storing of receipt information • Easily accessible via a web interface • No more losing receipts • Able to return items even though you don’t have a hard-copy of the receipt • Essentially – more money in your pocket

12. Potential Problems • Businesses may not want to support the bank offering a service that may potentially decrease their revenue. • Example: If customers actually use this product, they will always have a means to return an item. Whereas, if they didn’t have this product and lost their receipt, the business would benefit.

13. References 1http://www.consumerworld.org/pages/returns.htm 2http://www.mouseprint.org/2007/12/24/retailers-return-policies-the-2007-fine-print/ 3http://www.bestbuy.com/olspage.jsp?type=page&contentId=1117177044087&id=cat12098