Tracking key performance indicators with Retail Budgeting software
In keeping up to date with the data on your retail chain or store, there are a number of basic things you’ll want to be monitoring. How are sales going? Are you netting a good profit? Which products are performing well, and which ones are having trouble? But beyond these preliminary and important questions, any smart retail budgeter will want to look at specific information about retail performance on multiple different levels. It may differ from business to business, from month to month, or location to location, but tracking the important performance indicators is crucial to understanding the growth and change of your retail environment.
ChainDrive retail management software offers a Retail budget tracking software component with flexible and powerful Key Performance Indicator (KPI) tracking to help you monitor the most basic of objectives and the most specific of goals.
You can monitor a whole slew of different statistics, including but not limited to:
- Average dollars per transaction (ADT)
- Average units per transaction (UPT)
- Average dollars per hour (ADH)
- Wage cost percentage
- Weekly workforce hours