Consumers are changing and adapting—they expect retailers to do the same.
Store associates are key contributors to the success or failure of brick-and-mortar stores, making them one of the most important assets to a retailer. Mobilizing store associates and store management staff with timely and relevant insights into your business will shape your customer’s shopping experience, increase store performance, improve back-office productivity, and in doing will create new opportunities for retail growth.
We are an analysis-hungry organization and continue to stretch the amount of reporting that we can provide to the business. We've more than doubled our store count since we implemented Prophix's software, but since reports can be set up dynamically that is not a problem. We are able to secure access to the data in ways that before would have been very cumbersome. People now have access to the data they need - without the ability to view confidential information. None of this was possible using spreadsheets.
Christopher Lesch Senior Director of Finance Floor and Decor
Planning personnel schedules for head office, district and store-level staff can be super time-consuming. With so many variables like; busy holiday schedules, slow off-seasons, store sales volume, store promotions, union or government regulations. Prophix makes it easy to analyze your workforce costs and get insights about salaries, hourly rates, benefits, turnover, and absences, with drill-down/drill-through capability to any level – by employee, store or region.
Self-serve interactive dashboards make it easy for you to manage store inventory levels and to deliver new products at the right time. Make profitable buying decisions with visual scorecards and at-a-glance KPI’s. With just a few clicks, corporate buyers, store managers and supply-chain managers can track key metrics such as sell-through rates, inventory churns or order cycle times and adjust inventory orders, shipments or sales promotions.
Perform what-if analysis that seamlessly incorporates omnichannel sales data to evaluate and identify optimal product mixes on the web and at the store level. Use this information to model and plan new store openings or potential store closings and quickly see the impact on your P&L statements and cash flow. Facilitate approvals and instantly update store budgets and corporate forecasts with best-case scenario results.
Let Prophix do the heavy lifting of reporting, so you can spend more time interpreting the data and taking relevant action. Quickly consolidate budgets, plans and reports at the store, regional or corporate level with confidence. Prophix helps you complete budgets and plans faster and build models that drive both bottom-up and top-down planning. Enable corporate or retail management teams to track detailed store history, calculate same-store performance drivers and to analyze seasonal trends, store margins, shrinkage rates, on-line promos, and inventory metrics.
Retailers with online and brick-and-mortar locations have a variety of factors to take into consideration when building their operating plans.
A retailer’s office of finance should be easily able to uncover patterns in each store locations’ sales, inventory, and margins to optimize supply and staffing processes. This data should tie easily back into the overall omnichannel picture to inform purchasing, marketing, and other staffing needs. Prophix’ single-source of financial truth and automated reporting functionality provide the means by which modern retailers can meet their omnichannel challenge.