Best Features of Franchise Management Solution

Running a successful franchise business is no easy thing. But at the same time, it can be a massive opportunity. To put things into a better perspective, the franchise industry generates more than $2.1 trillion each year. During this hard covid impact it is more important to revise & fine tune your business processes with right franchise management techniques.

According to the International Franchise Association, almost 5% of all small businesses in the US are part of some franchise. Furthermore, there are over 900,000 franchise businesses across the country that employ over 18 million people.

However, there are as many new franchise businesses as there are those that close shop permanently. There can be various reasons why some franchise businesses thrive, and others fail.

The one thing that stands as a common denominator for all successful franchise businesses is a great franchise management solution. According to a survey run by the International Franchise Association, more than two-thirds of all surveyed franchise businesses said that they couldn’t be as efficient as they were without their software management solution.

In that survey, they have listed some of the best features of the franchise management solution they are using. Here they are:

Centralized Control

This feature enables you to always be on top of things and have all data easily accessed. It is the core feature of many franchise management solutions out there. Ideally, it integrates data from all outlets, branches, and territories.

Plus, the data is presented in a way that you can easily recognize trends, patterns, and performances. The best solutions have a centralized control that features a user-friendly UI. That’s not all; it also covers all business processes related to your franchise business.

Workflow Optimization

This is all about being able to analyze the process and optimize it. Every top-rated software management solution is built on the premise of continuous improvement. A big part of workflow optimization is workflow automation. That way, it is possible to convert some of the repetitive workloads into free-running operations for increased efficiency. By doing so, the user can spend less time on repetitive work and focus on other, more critical aspects of the business. 

Inventory Management

All the best software management solutions offer excellent inventory management that can automate ordering, tracking, supply, and storing inventory. That way, all of your franchisees are always well-supplied, you can keep track of their performances, and you can make supply plans. Logistic play a big part in every franchise business. The better this feature, the easier it gets to optimize your supply chain, all goes smoothly, and most important of all, uninterrupted.

Integration

Integration can additionally help optimize your workflow, smarter use of available data, increased BI, and so on. The list of benefits can be quite extensive and can vary from case to case.

Cloud integration is also recommended. That way, your franchisees can also have access to some of the features and data. As a result, they can also take advantage of that to improve their internal processes and workflow.

Once everything is in the cloud, they can access it easier from any place or device.

Reporting

Nothing will matter much if your franchise management solution doesn’t come with good reporting. Reports can and should bring you insights into how each franchise outlet is doing, are they lagging in some area, how are their sales, revenue, customer lows and highs, and so on.

The reporting tool should be easy to use and very comprehendible on both sides, the side that makes the report, and the end-user. At the same time, it needs to contain top data and metrics. All of which are essential in making business decisions that will help you run a profitable franchise business.

Based on those reports, franchise owners and managers can analyze key metrics, and send recommendations to their franchisees.

Analytic Tools

Thorough reports and the metrics derived from there can be of great help. However, sometimes we can’t see the entire picture from all that data. That is when the analytics tools come in place. They can reveal something that went under the radar, yet it can be a game-changer or a hint to some new trend. Sometimes it can be a positive trend, other times a negative trend.

But in any case, it will help you be ahead of the curve and prepare a strategy that addresses the issue promptly. To that end, many franchise software management tools leverage powerful BI and AI algorithms. 

In Conclusion Franchise Management Solution

All of the features above are designed to help you reach new goals and make better business decisions. But even the most powerful features won’t be worth much to you unless you put your heart and mind in it. It is only when you combine your business intelligence with the power of the software solution when the best results are achieved. 

BillberryPOS is a power packed franchise management solution platform where we provide custom solution as per customer’s needs. If you like this article, please share to others for Affordable Franchises Management Solution.

How to Choose the Point Of Sale System for Your Business?

A point of sale system (POS) is not just some high tech cash register. It is a lot more than just a gadget that takes credit cards and records sales data. It can also gather data on inventory management, sales, customers, employees, and a lot more.

Every new generation of POS comes with new and improved features that make it the central hub of any retail business. Here we will elaborate on how to choose the best possible POS system for your business. That way, you can manage your business more efficiently. 

Make your business needs a priority

A POS system may be perfect for a small store, but won’t necessarily be an excellent fit for a studio of a dozen of hairdressers. A growing business or a startup might want to choose a system that can scale along with their growth. That way, they won’t need to change their transaction process when they hit high numbers.

In most cases, small businesses can rely on tablet or iPad based POS systems. This type of system is easy to use and portable. Also, it offers a ton of security features and operates in the cloud.

On the other hand, mid to large-sized businesses can’t rely much on this type of system and will have a difficult time managing their transactions.

That is why it is super-important to research the POS systems. Make sure that you base your research on what’s used in your industry, by companies of your size. Talk to other business owners, read reviews, get quotes, and so on.

Integration with other systems

The perfect POS should be able to connect with your other business systems, like email marketing and accounting software. The top benefit of this is that you get a lot of customer data without manually downloading it from one program and then uploading it to another.

That is why integration is something that should be on the top of your list when searching for the best possible POS system for your business.

Don’t ignore scalability

You might be running a small retail business, and you got just one store. But you might plan to expand soon.

The thing is that specific POS systems limit the number of outlets that can be managed using them. That is why you need to make sure that you choose one that is scalable and won’t limit your business once you start growing.

As a result, many business owners choose scalable cloud-based POS systems that support multiple registers and stores. Once you connect all retail stores, you will have a single dashboard from where you can monitor all of them and run your business efficiently.  

User simplicity is essential

A POS system may have an incredible set of various features. But that won’t do you much good if they are part of a program that is difficult to understand and use. You don’t want to list the user manual for every little thing. Plus, even if you learn it through and through, you need to make sure all of your employees know how to use it as well.

That is why you need to have a crack at it before you make your final decision. The unwritten rule is the simpler the UI, the better. That way, every user can easily learn to use the POS system, and you won’t need to spend time teaching others or listing the manual every time you are stuck with some features.

Look for POS systems with specific features

Every business has its own specific needs and requirements. Nowadays, POS systems have features designed to fit individual businesses and industries. It’s one thing to buy a POS for a hotel, another for a restaurant, and a way different one for a mechanic shop. Each one of them has unique requirements and needs. There isn’t one POSto fit them all. Plus, the size of the business plays an immense role. The type of POS that serves perfectly a small shoe store may not be fit for a massive one. That’s why you need to consider both the specific needs of your business and the size of it.

For example, a typical restaurant will require a POS system that allows splitting the check, make table reservations, track product status, accept online orders, add tips, and so on. You won’t need most of those features if you run a small coffee shop or a cleaning service.  

In conclusion

Choosing a POS system is no rocket science, nor should it be. However, if you neglect some of the points made here, you might end up with one that simply doesn’t meet all of your needs. That is why it’s essential to do your research first, so you won’t have to worry later.

We have a Best Point Of Sale System in our mind for you. Please visit https://www.billberrypos.com to know the potential of POS system.