How Easy Is Your Store Budgeting To Explain?
Some people think like accountants. Other people think like CEOs. Then there are the creative types who think outside the box and an entire spectrum of thinker-types besides. When all these different styles of thinking get together for a business meeting, information like a budget must be analyzed and comprehended by all. That’s where ChainDrive’s Store Budgeting feature shines.
Tools To Enhance Analysis of Data
Data is useless unless it is the data you need and you can find it when you need it. One example would be in the KPI budget category. In order to monitor key performance indicators, there must first be a way to set KPI targets in the necessary categories using the appropriate units. That’s why ChainDrive’s Store Budgeting Dashboard allows the Head Office to set targets with a variety of options.
Detailed information can be logged daily for clarification of factors affecting any particular performance. A store that has low numbers of sales because bad weather forced its closure can be viewed accurately in light of the circumstances. The annotation feature is exclusive to ChainDrive and is a feature retailers have requested because variables in performance can only be analyzed accurately when all the factors are present.
Store Budgeting – Tools To Enhance Comprehension of Data
There’s another side to data, and that’s the side many people see. It’s a blank wall. For people who do not easily interpret data, seeing a spreadsheet doesn’t help. Many times these people still must deal with data, analysis, and reporting in a business meeting regarding the budget. So how can ChainDrive help the non-spreadsheet types?
Built-in comparatives, multi-level variance displays, and full graphing functionality turn data into configurable views that can be defined, saved, recalled, and displayed. The data can be put together in different ways and examined until it makes sense. ChainDrive’s Store Budgeting software is secure, too, so that only authorized users have access. There are seven levels of accessibility so the user sees the appropriate data for their sphere of responsibility and is able to comprehend that data accurately for maximum effectiveness.
After all, a budget report that isn’t understood isn’t going to do much for enhancing your business. The ability to collect data and make it available in a variety of formats means that a variety of users can access that data and comprehend it.