The Secret To A KPI That Creates Incentive
Setting goals in your retail budget can be an excellent way to create incentives for your stores and employees. They do this by setting the bar a little bit higher but within reach of achieving the new standard. On the other hand, when you set a KPI that is not appropriate, that key performance indicator will only show failure. A failure that has no hope for improvement is discouraging. So choose the right budget management software for your retail business.
Configurable Views Create Achievable KPIs
ChainDrive gives you configurable views that are perfect for creating achievable key performance indicators because you control all of your data views. You have the flexibility to produce views for exactly what you need. Store groups, districts, and other store-assigned attributes can be defined and displayed where and how they will be effective. You can select from an extensive list of data and associated comparative values.
This gives you the best representation of each specific group so your KPIs are appropriate and achievable.
Compiling All The Facts Creates Realistic Goals
The ChainDrive Budgeting tool gives you the ability to compile all the facts. You can compare actuals against your budget and last year’s comparisons every week, period, quarter, and year to date so that you monitor what is really going on.
The annotation feature is exclusive to ChainDrive’s integrated retail management software. This gives your stores the ability to log detailed information on daily events and significant happenings as they occur. The integration of all your data makes it simple to check on aberrations and see what was happening at that time. Knowing all the facts makes analysis accurate. The accurate analysis makes the key performance indicators you set optimal for each unique situation.
Create A KPI That Is Easy To See
The ChainDrive Store Budgeting Dashboard is perfect for monitoring key performance indicators because the quick graphics performance views and targets are available down to the store level. Whether you set Average Dollars per Transaction (ADT) or something else, the graphics display simplifies the goal by visualizing the progress.
The security settings let you control who sees what, too. The KPI that you set for one store is not visible to others unless you choose to make it that way. You can tailor, secure, and restrict each individual store’s screen view so each team sees their own data and goals.
ChainDrive budgeting software is the secret to creating KPIs that are realistic, easy to see, and achievable. This creates the incentive to reach the key performance goals you deem important.
chaindrive retail budget management software allows you to plan, manage and forecast your budget performance. If you have more questions or want to know more about how Multidev can help you step-up your retail operations, contact our retail management software team or log on https://chaindrive.com/free-live-demo/ to book a live demo.