There’s a lot to consider when looking for the right software solution for your franchise. You need something that’s broad enough to help you maximize your retail chain management, but flexible enough to be tailored to fit your company’s unique needs.
While every retail management program offers slightly different services, there are still some basic components that you should look for when researching which platform is best for you. Let’s look at six of these important services that should feature in your franchise software:
1. Easier Control Over Promotions, Gift Cards, and Loyalty Programs
Promotions and incentive programs are an important part of any successful marketing campaign. For this reason, it’s important that franchises look for a software solution that makes rolling out these programs convenient and more efficient. Franchise platforms that make use of cloud technology make it easier to create and modify promotional campaigns, gift cards, and customer loyalty programs geared towards specific franchise locations, or directed towards all stores across the franchise chain. Furthermore, cloud accessibility takes away the need to manually update computers at each franchise location, which greatly reduces the chances of human error.
Trends move quickly in retail, so make sure you’ve got a franchise software solution that lets you capitalize on them in time.
2. Customizable Reporting Tools
Reporting is an essential component of any franchise software. Franchisors need to be able to access the progress of stores so that they’re able to keep track of performance records and make informed predictions about future sales. But not all management platforms provide the same reporting options, which is why it’s important to find a software solution that gives you the best reporting options so that you’re able to get the right information for your franchise. Here are some reporting components that you should look for as you shop around for your franchise solution:
Centralized Reporting: Franchisors should have the ability to monitor locations across the franchise chain in real time, without being intrusive or overly visible. Centralized reporting allows this by giving franchisors a wide range of analytics from different locations that can help them calculate their ROI and evaluate business strategies.
Customizable Reports: Your franchise software should give you the opportunity to filter, customize, and select templates for your sales reports so that you’re able to focus on the KPIs that are relevant to you.
Franchisee Reporting Access: There are times when the franchisee can also benefit from using reporting tools to help them improve workplace efficiency or sales. A good franchise software solution gives franchisors the option to grant franchisees access reporting tools, while also preventing sensitive information from being shared between corporate and franchise locations.
3. Central Access to All Locations Across Your Franchise Chain
One of the biggest advantages of rolling out a franchise management system is the convenience that comes with it. But if your system doesn’t give you global access to make modifications to all stores in your chain, as well as the ability to update individual stores with the click of a button, you’re not getting the convenience and efficiency you deserve.
With the help of cloud technology and a good franchise management platform, you can manage your entire retail chain from one convenient location. This means that you can make price adjustments, change tax rates, or perform a variety of other modifications for individual stores or the entire franchise chain. And since changes are made using a cloud network, all of your locations will automatically sync up without you having to make adjustments on every store’s computer.
4. Easy-to-Use Inventory Management Tools
Good inventory management is essential for ensuring success and customer satisfaction. For this reason, it’s important to find a franchise software platform that helps franchisors track and manage inventory more efficiently.
Franchisors need a software suite that gives them the ability to access and replenish inventory at stores across their franchise chain, in addition to being able to zoom in on specific locations. Other helpful features that can make it easier for franchisors to manage their inventory include: tracking employee metrics, managing an active supplier database, and keeping track of price lists across suppliers.
5. A Wide-Range of Integration Options
Since every franchise has different needs and expectations, there isn’t a one-size-fits-all approach to management software that gives every franchisor or franchisee what they need. Because of this, it’s necessary to go with a franchise management platform that integrates with a variety of other management tools.
Depending on what your specific needs are, you might want a software solution that integrates with accounting programs, warehouse management tools, e-commerce platforms, PayPal mobile payments, and more. For that reason, you need a management software solution that lets you customize and use adapt your platform to suit your specific business needs.
6. Better Customer Engagement Solutions
There’s more to creating a smart franchise solution that managing inventory and sales. Customers are one of the most valuable resources for any franchise – which is why you want to have a management platform that makes it easier to track customers and collect data for loyalty programs.
Choosing a franchise software solution that helps you build customer profiles makes it easier to come up with marketing campaigns and develop strategies to increase customer retention at corporate and at the store level. Moreover, choosing a software solution with a built-in CRM tool can be useful in a number of ways, like creating buyer personas and connecting directly with customers over email or social media.
Erply Franchise Management
Erply is a cloud-based management platform that offers POS and ERP services. Designed to make franchise management easier and more accessible, Erply allows the user to manage individual locations or complete franchise chains from one convenient platform. Unlike some of the other management software solutions on the market, Erply uses a Cloud Hybrid System designed for online use, but able to function fully in offline scenarios as a failsafe.
Contact us today if you’d like to learn more about how Erply can help you get more out of your franchise management software.