Helping small business retailers measure ROI
Mark on January 31, 2014 6:42 AM
Return on investment is one of the most under utilised measures in small retail businesses. Here’s a good definition:
Return on Investment is the amount of profit or cost saving that will be realized in return for a specific expenditure of money, usually express as a percentage of the original monetary outlay. The ROI ratio compares the net benefits of a project to its total costs.
In the Tower Systems Point of Sale software since we released the software ROI has been one of the KPIs our customers can measure and report on – at a variety of levels. We back this reporting with advice and training on the KPI, what it means and the decisions that can flow from reporting on this.
ROI is not the only important KPI we report on with our software, stock turn, return on floor space, gross profit … they are all there in the easy to read and robust reports in our POS software – all KPIs any smart retailer will want to track and report on for their business.
A difference for Tower Systems is that we help our retail business partners understand the data and the decisions that can flow from such understanding. We happily do this remotely, or one on one face to face. In our business we have retail experienced people to offer insights as well as our own in house CPA.
The Tower AdvantageTM is about much more than great software and great support. We offer valuable business insights.