LivePOS Releases New Feature set for Chains and Franchises
LivePOS, Cloud Point of sale Solution for Chain and Franchises
SAN DIEGO - Oct. 9, 2017 - PRLog -- Every business dealing in sales, undergoing several transactions from a multitude of transactions, will want to be able to analyze how their sales are going and what areas are working well. If the business has various branches, they will want to compare the data of different locations and see who is performing the best (and the worst)!
These stats are particularly important during and after the holiday period when there is usually an influx of sales. Stores will also want to examine what effect the reductions and holiday sales had on their figures. Were the promotions worth it? Did they bring in more customers, but not increase the profit?
The following reports help any sales business get to know what's happening.
Location IPC Analysis
This report allows you to see how each location is performing and their figures during the holiday season. It nicely displays an invoice per customer, thereby making it very easy to determine how many customers you had during the period in question. The number of receipts = number of customers.
Product Gross Profit Report
A quick way to see how much money was earned during that period, including tax. The report will show the total sales including tax and the companies' cost. The difference between these figures is the gross profit.
Profit and Loss Report
This is a more detailed analysis of profits and expenses during the selected period. Daily reports are often analyzed, to understand what works for the business and what does not. All expenses are analyzed, including salary, rent, cost of products, plus utilities and sustenance. The P&L will still tell you how much you earned/lost during that period.
Refunds are a part of every sales business, so naturally, you want to know what can be done to decrease the frequency of them. Refund reports will detail every refund given during that period, and the reason for the refund. This can be analyzed to determine if there is a consistency in the types of products returned, location, or dates.
Coupon Usage Report
This report tells you which coupons are used most frequently in each location. This will help determine what promotions you should run in future in each location. An increase in the best-performing coupons could attract more customers to the business.
Coupon Efficiency Report
The coupon efficiency report is slightly different in that it analyses multi-use coupons. It displays stats on how often they are used. You can analyze multiple coupons at the same time and compare their stats in a spreadsheet, or visually in a graph.
LivePOS Integration with Microsoft Power BI
Power Business Intelligence is a software, developed by Microsoft, that allows you to analyze data and share insights. When integrated with LivePOS, you can take the data directly from your sales, and explore metrics in real-time. You can create stunning visuals and have up to date reports for the whole team to analyze right away.
David Miller, LivePOS Inc.