Asking a retail execution software vendor like Bindy whether you need this type of software may feel like asking a shoe salesperson whether you really need shoes. And yet the answer may surprise you.
The business case for software automation hinges on your activity and the exposure, liability and costs that inconsistent or poor execution may have on the brand’s image and bottom line.
Through our discussions with retailers, we have identified five supporting reasons for implementing retail execution software.
Let’s dive in.
What is Retail Execution Software?
Retail execution software (sometimes called “retail audit software”) is software that lets you audit retail stores for compliance with brand standards, programs, and policies in areas such as operations, merchandising, loss prevention, health and safety and security.
The “audit” is sometimes called an assessment or simply a visit.
This software relies on actionable forms / checklists and tasks to validate standards and remedy issues with a corrective action workflow.
🚀 Expert
Reason #1: You have more than 10 stores
Operations become the Achilles’ heel of a growing retail business unless the operations backbone can scale to accommodate more stores and franchisees while still providing the guidance and attention each store requires.
Automation means better and faster execution of programs designed to drive sales and cut costs. Automation tells you what is working (or not working), where and when. Automation keeps everyone informed and the whole system together, with minimal overheads.
Speaking of growth, here are three articles on growing your retail business.
How to scale your operations from regional to national.
How to grow a retail business: from 1 store to 5 stores.
How to grow a retail concept from 5 to 50+ stores.
Reason #2: You have “problem” stores
A “problem” store is a store with one or more of the following problems: low profitability, high turnover, high customer complaints and a documented history of non-compliance with brand standards.
Documenting non-compliance, assigning issues to people, setting target dates are as much an “audit” as they are a training tool and an opportunity to turn things around.
Software lets you track trends, repeat unacceptables, outstanding items and lets you compare the performance of a store with its peers. Automation helps you identify the problem areas and lets you address them.
Reason #3: You have franchisees
Good people make all the difference in retail and hospitality. But even the most motivated and experienced franchisees need guidance from time to time. Protecting the brand implies defining and communicating clear standards and measuring franchisees’ performance against these very same standards.
A clear set of standards and a ubiquitous performance platform is like the proverbial rising tide: it lifts all boats.
Reason #4: Seasonal programs are Important to your business
Seasonal programs need to be executed at precisely the right time, in precisely the right way to have the most impact. Signage, displays, training must all be coordinated for each store to maximize profits during the seasonal program.
Store execution matters. Funds spent on programs that are not executed in full, 100% of the time at 100% of your stores, are funds wasted.
Reason #5: Hygiene and store cleanliness are critical
This is generally the case in the food service industry for obvious health and safety reasons. As customers, we do not ingest that which we do not trust and the restaurant’s cleanliness and general condition are the foundations of this trust.
Why you need to automate: prevent issues before they happen, identify and remedy problem areas quickly, protect the customer and employees’ health and safety, protect the brand.
How to Pick the Right Sofware?
Now let us help you find what you need on your software buying journey. Here are 6 steps to choosing retail audit software.
OTHER RETAIL AUDIT AND INSPECTION RESOURCES
Refer to the Retail Audits and Inspections category for how-tos and best practices for retail audits and inspections.
LEARN MORE ABOUT BINDY
Refer to the Bindy category for more information on how the world’s leading brands use Bindy to execute brand standards with inspections, corrective action plans and tasks.
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