Implementing KPIs: Real-Time Retail Performance Reporting

Key performance indicators (KPIs) serve as a roadmap to business growth, allowing managers to assess the achievement of company’s goals and adjust marketing strategy, when necessary. Tracking industry trends is particularly important to retailers due to the high volatility of the business. In a changing retail environment it’s critical that data is effectively managed for real-time KPI reports.

At first sight, lots of data is available for field team managers to assess sales reps performance. On the other hand, data gathering, visualization and analysis can be really challenging while managing KPI framework. Field team managers might feel like they have too many balls in the air when it comes to gathering various data for several KPIs. Reporting delays and data inaccuracies due to human errors, big time gaps between data aggregation and getting insights for making decisions determine the complexity of KPIs implementation.

In order for a KPI report to provide a current view of retail conditions, it needs real-time data.

Retail execution software can help companies to improve KPIs implementation by allowing managers to get real-time GPS-confirmed data, blend different types of data for more robust analysis, and get the exact data they need at the moment. Lets consider the main ways a retail execution software solution can help companies to aggregate, track and manage data, used for KPI reporting.

Real-Time Data Workflow

Retail execution software not only allows your field reps to automate retail visits and tasks performance, but also provides real-time data workflow to generate KPI reports. Field team managers instantly get the following information:

Progress in carrying out the tasks
Work hours
Field reps/customers timesheets
Photos, taken in the field
Actions performed
Visits and tasks data
Orders and returns
GPS-locations.

Moreover, as you implement retail execution software, you’ll be able to generate new opportunities to collect data for KPIs, such as questionnaires, surveys, retail audits, inspections and etc.

Data Management, Made Easy

Retail execution software allows managers to simplify KPIs analysis, making it easy to present data in ratios and percentages and identify trends in the development of markets and sales territories. Real-time reporting empowers field team managers to identify situations that require their attention and take urgent measures to resolve them.

Although retail execution software has the ability to aggregate huge amounts of data, it’s also able to present data in a format that is suitable for particular needs. An effective software solution for retail execution is able to sort out important data and display it on the interactive dashboards. Role-based reporting is one of the most useful features for a field team manager as he can get the precise data he needs at the moment. All the reports can be customized to provide necessary information and empower field team manages to make smart decisions.

See firsthand how retail execution software can change the way of gathering data while managing KPI framework. To learn more about KPI implementation visit www.visitbasis.com, or sign up today to completely automate your retail data collection.

Implementing Sustainable Merchandising

In the factory-to-customer cycle, merchandising is one of the most wasteful processes. From the fuel consumed by field reps to the amount of paper used in traditional audits and surveys, on top of promotional and seasonal displays, it is easy to see why merchandising is considered “eco-unfriendly”. A field merchandising app can make a world of difference when it comes to sustainability. By adopting a field merchandising app, CPG and FMCG businesses can expect the following: Virtually eliminate the use of paper in in-store activities such as planogram checks, audits, surveys, and orders, among others. A state-of-the-art field merchandising app will also allow for instant access to the data collected, slashing the time and cost spent on data entry. Considerable savings in rep travel time and fuel thanks to the route optimization functions of field merchandising apps that automatically calculate the shortest store rounds. A cross-platform field merchandising app will all

Cloud for Retail Execution: Make Away with Data Storage Costs

Why Go Paperless? In order to store 2 million paper documents, an organization can expect to spend between $40,000 and $60,000 on filing cabinets alone. Those same files could fit on fewer than ten CD-ROMs (Business Guide to Paper Reduction) . If we assume that a filing cabinet uses from 6 to 20 square feet of space and the office space costs $23 per square foot , the space for a one filing cabinet will cost a company $1656– 5520 per year . How to Go Paperless? When you choose paperless data collection your data storage costs can be significantly reduced or even brought to zero. Digital data collected using mobile forms require much less space than paper sheets and therefore cost less money. With the development of mobile technology you don’t need CDs or any other data carriers to store and access your data. More and more companies opt for Cloud storage. The price of Cloud storage starts at $0.01 GB per month and the average number of MS Word pages per GB is 64782.

Solving Information Loss in Merchandising Once and For All

Information loss used to be an inevitable consequence of retail merchandising. With many field reps performing a number of tasks on each one of the stores in their individual territories, it is easy to see how the amount of data collected on the field grows exponentially and is, therefore, increasingly difficult to handle and more subject to information loss. Mobile merchandising software is the ideal solution to information loss in retail merchandising. When businesses implement a mobile merchandising software solution, they prevent information loss in the following stages of data processing: Data collection It is easy to see how information can get lost in traditional pen-and-paper merchandising. With mobile merchandising software, field reps perform tasks such as filling out forms and taking pictures in their mobile devices, leading to less misunderstanding and mix-ups. Data transcription With mobile merchandising software, there is no data transcription. The information goe

Retail Execution with VisitBasis

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