The mantra cash is king is important. Equally important, however, is a much less repeated mantra, data is king.
Look at a small or independent retail business and you most likely see a business that did not manage or use its data. Indeed, it is the failure around data that probably led to cash problems.
Good data management and analysis can forecast cash challenges and help a business avoid them – with good warning.
Here at Tower Systems we believe in good data. We respect it through our Point of Sale software. We train our customers how to gather, cultivate and harvest business data for their profit. We do this not once but continuously.
We have seen businesses crash on the back of poor data management. They have not seen the train wreck headed their way. They have not been able to plan their way out of a dire situation.
Whether it is understanding which stock is moving and which is not or who the best employees are or which suppliers deliver better results for the business – business data from our Point of Sale software can help small and independent retailers to be aware of a challenging situation and to turn it around. This is what we do in our software – if retailers want to engage with us in making them aware of how their business really is performing.
Our call to retailers is to put data between them and any decision they make. Use facts to guide your choices and the business will be better off – always.