There are many elements which, when combined, are key to running a successful business, but few are as important as the insights you get from your POS reports. From tracking revenue to auditing employees, utilising the data at your fingertips is essential to growth.
Spot trends and boost profits
There has been a fundamental shift in consumer behaviour over the past year and businesses need to adapt in order to keep up with demand. Your POS reports can:
- Monitor sales performance - Our SymLive integration provides real-time metrics to help you keep track of sales and identify areas that may require a push to improve.
- Identify patterns - Use sales reports and product heatmaps to review transactions and see which products prove most popular across your outlets and locations.
- Streamline stock management - Compare your best and worst sellers with the amount of stock you’re holding before running promotions or sending purchase orders to suppliers.
- Tailor your marketing - Keeping tabs on what’s selling and getting an understanding of what your customers are looking for will mean you can run promotions to push popular products and sell any slow-moving or surplus stock.
Compare outlets or locations
Businesses which operate across multiple locations, both on and offline, will naturally have a tougher time keeping track of sales. This is where your POS reports come in.
- Compare performance - Identify which of your locations or platforms is performing a cut above the rest and implement changes to those which need to make improvements.
- Implement marketing campaigns - Could one of your outlets or locations benefit from more exposure? Maybe your online presence needs a boost? Sales and revenue data will give you an idea of where your marketing efforts need focusing.
Drive staff performance
Are you utilising staff to the best of their abilities? Analysing sales metrics through your POS reports can help you to:
- Organise timetables - By getting an idea of particularly slow or busy periods, you can ensure you’re never under- or over-staffed at given times.
- Incentivise top performers - See who has sold what and when. Encourage competition amongst staff and fuel sales growth by incentivising sales targets.
- Implement training - Reports will help you to spot any areas where employees are under-performing and whether extra training is required.
To find out more about our business intelligence tool, SymLive, get in touch with the team on 0116 299 7000.