We’ve seen the rapid expansion of digital technology continue to disrupt every aspect of how businesses operate. From billing and payment systems to information management and storage, to nurturing customer relationships, to interacting and communicating, digital technology is reshaping how business gets done. However, when it comes to digital sourcing, professional buyers acknowledge there are challenges – especially when borders are crossed. Ensuring quality, and giving buyers access to more choices from different suppliers to find products at a price that works for them and their needs, meet their strict requirements, and managing smooth and fast delivery rank among the most important hurdles for buyers.

For retailers, a rapid shift to e-commerce means significant opportunity to increase sales margins, in an effort to end the year strong as COVID-19 continues to rattle the industry. However, this opportunity also comes with significant risk, as malicious actors are highly-motivated to exploit holes in retailers’ digital platforms for financial gain this holiday shopping season. To achieve strengthened eCommerce software security, here are four best practices retailers should implement, not just throughout the holiday shopping season, but year-round.

Ecommerce retailers face many challenges as consumers become more dependent on the convenience of online purchasing.

Every dollar of fraud to merchants and firms in the retail and financial services sector is estimated to cost $2.66 on average, said a new fraud report.

eCommerce fraud as a percent of sales dollars has been declining across the board, except for two industries, since the first quarter of 2016.