Losing customer’s money
Description: A customer’s money loss would incur when a customer paid for a product or service which was never used or received.
Risk Factors: • Unhappy customer
• Disgruntle customers will leave • New and existing customers talk badly about their experiences to friends. • Company’s reputation is smudged • Legal action occurs
The application doesn’t reflect the correct status of the inventory and a customer purchases a device which is backordered. The customer becomes frustrated with the company when the item is not received. This customer talks to their colleagues about their experiences with your company. The company’s financial profits are decreased.