Get Everyone On Board With A Retail Budget That Works
A good retail budget is the blending of proposed goals and realistic expectations. It is based on facts, which could be discouraging. But good budgets for retailers include the setting of appropriate sales and performance objectives. These objectives can be encouraging because they provide reasonable, reachable Key Performance Indicator (KPI) targets. When people have the hope of reaching a goal, they are inspired to get on board to work towards that goal.
ChainDrive Store Budgeting provides the tools to accomplish the tasks involved in creating a retail budget that works:
- The ability to set targets for customized timelines, store rankings, etc.
- The flexibility to set up to seven levels of security for data views
- The capacity to monitor performance for budgeted KPIs
- The reliability to use historical data to aid in budget settings
- The simplicity of dashboards, graphs, and variance reporting
- The clarity of annotation for events that cause fluctuations in performance
- The functionality of full copy-paste and undo-redo tasking
The beauty of ChainDrive’s Integrated Retail Management software is that it truly does integrate. Budget planning can be fully integrated to the Point of Sale, for instance. This integration is made possible by the centralized database that stores real-time data and accumulated historical data in a secure location.
Because security settings are user-defined, the head office is able to define exactly what each store sees. Sales, wage, budgets, hours, overall store performance, and progress are clearly defined at the level of visibility preferred. This means that even an assistant manager can be allowed appropriate access to details that can help their team succeed.
The Beauty of Being On Board
ChainDrive enables configurable views so different groups within the organization can see exactly how their contribution fits in the overall success of the business. Comparatives, multi-level variance displays, full graphing functionality and much more make it easy to show a particular team how they are doing in reaching set KPIs. Store performance can be analyzed down to the day, with annotation alerting viewers why a particular performance might have extenuating circumstances like a hurricane or blizzard causing store closure.
The Store Budgeting Dashboard offers quick graphic performance views and targets so that everyone understands the benefits of being on board and the practical steps they can take to reach their goals. It’s a beautiful thing when everyone is on board with a retail budget that works.