We are often called upon to help retailers get better understand their businesses from the context of information curated through our Point of Sale software. We are thrilled with such opportunities for engagement with our customers for we know that the data will deliver valuable surprises for the business.
Here are ten things which retailers marvel at discovering about their businesses by using our Point of Sale software:
- Factual data about the performance of one supplier over another. The facts often do not match what suppliers say.
- Shopping basket data about what sells with what. You can see the real value to the business of good traffic pulling products.
- Details of stock items which are failing to deliver a reasonable financial return to the business. There are several reports for listing items which have not sold in a specified period of time.
- Return on investment reporting where a retailer can see the genuine value delivered by inventory.
- Employee sales performance data.
- Trading period comparison by department, category and supplier – seeing, factually, how the business is tracking.
- Questionable behaviour. Thanks to our thorough Audit Log retailers are able to see details of behavior which could indicate fraud against the business.
- Customer value. being able to see the value of a customer over, say, a year, can give the retail business owner and manager a bigger picture view than by just looking at a single transaction.
- Floor space efficiency. By being able to track and report on sales by floor space retailers love being able to measure the return they achieve per square metre of their retail space.
- Top sellers reporting. While many retailers know their top sellers, few understand the percentage of sales (dollars and units) delivered by these to the business.
Our software tracks and reports on far more than these ten areas. These are some that spring to mind when we think about what our customers like when we work with them on business performance.
We are grateful of an opportunity to work with any retailer on better understanding the performance of their business. We benefit as much as the retailer from assessing business performance data and talking about what this shows us.