Real-Time Data Bridges the Gaps in Monthly Sales Reports

Every retail executive has experienced it before. Mixed in with a series of positive reports from different locations, there’s one store that ends a month in far worse shape than others. Every piece of information previously communicated about this location suggested all was well. A conversation with a store manager, though, highlights a few problems in retail execution that went unresolved for several weeks. Employees arranged a few displays incorrectly, resulting in missed sales before a manger spotted the problem. The lost sales can’t be recovered, but what’s worse, is this problem is avoidable.

Integrating modern solutions that promote rigorous attention to detail and accountability across locations is no longer a luxury. They’re in place to eliminate wasted time and lost money. Monthly sales reports can tell you how many customers bought something, where they bought it and the promotion that led them to buy it. They can’t reveal the upsell opportunities that led to more sales or the misplaced signage that customers never saw. These insights come from your in-store teams. However, it’s pretty common for some of this data to get lost when the only communication between field managers and the office comes at the end of the week or month. Sharing information in real time helps solve problems quickly, close more deals with prospects and encourages better sales for existing customers.

For instance, mobile technology’s integration enables the sharing of data with field associates, and they can send relevant information back to the office. When your employees are in the field, it’s common for siloes to develop. They’re moving from store to store or are rarely at a stationary desk, working with existing and prospective customers. Equipping them with tools that simplify information-sharing in real time eliminates these silos and ensures both sides have all the information they need to close a deal. In dealing with existing customers, these solutions give field associates and others some freedom. Store managers can confirm specific tasks have reached completion by sharing specific data from the location.

Business in 2015 is all about data. The more information you have, the better you can understand the problems that employees face and give them everything they need to do their jobs as well as possible. Nowadays, information is currency. It helps us understand our customers and make countless other decisions throughout our companies. Mobile solutions designed specifically for better information sharing have the potential to equip companies with even more information. Moreover, this data gives everyone instant context for sales information on top of helping to solve problems or other issues at your locations. As you include this data in your historical reports and analysis, you’ll be able to spot more trends and patterns that influence more sales and promotions down the road.

Vladik Rikhter is CEO and co-founder of Zenput. With more than ten years of experience in operational and business development roles in B2B technology companies, Rikhter’s background in logistics, supply chain and operations has allowed him to identify and improve workflow inefficiencies in small, medium and Fortune 500 businesses.
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