With a new year underway, many businesses will be analysing their end of year performance and trying to find areas within their operation that can be improved upon in 2016. However without the level of detailed insight into sales statistics, businesses can too often only scratch the surface of their problems. In a lot of cases, businesses can believe they have found the cause to poor sales performance in certain areas or for certain items when in fact the real issue requires them to dig down a little deeper in order to find the root cause of the problem.
Although during the sales process there are a range of different factors that can affect performance and cause issues with generating the required level of profitability, sometimes these problems can stem right back to where products have originally been bought. It may be that certain items are being purchased from suppliers that are generally more expensive, meaning the business could increase their profitability by simply shopping for those items elsewhere. Alternatively it may be a larger issue, meaning that the overall landed costs of using those suppliers, for example the expense of importing the goods from overseas, is causing business profitability to fall.
Unparalleled Insight Into Company Profitability With OrderWise Business Intelligence
The real concern is that many companies simply do not have access to the information they need in order to determine when supplier costs are at fault for poor sales performance, or indeed gain insight into the other areas where improvements in their sales operations need to be made. Without the ability to view this vital information and take the appropriate action to improve sales performance, businesses can find that growth can start to become stagnant due to profitability figures falling year on year.
Solving this problem is the OrderWise Business Intelligence module, which enables companies to reap the benefits of easily accessible performance statistics with the power to drill down to the core of their vast OrderWise data in order to find the cause of any issues. More dynamic than even the most detailed reports and enabling users to skip the data preparation nightmare, the OrderWise Business Intelligence module provides complete visibility of sales data from an extensive range of grids that offers businesses the reasons behind under-performance right at their fingertips. You can read more about the Business Intelligence module HERE.
Benefit From In-Depth Analysis Of Supplier Impact On Sales Order Margins With These Business Intelligence Additions
Adding to this comprehensive data analysis tool in version 11.1 of OrderWise, two new grids have been introduced that enable businesses to look at the margins items have made but from the supplier perspective rather than the customer.
These two new grids are:
- Supplier>Invoiced>Variants – totals for each item over the specified date range determined from any transactions linked to an invoice.
- Supplier>Sold>Variants – totals shown for the specified date range are determined from transactions allocated or despatched against an order line.
Armed with this key information, companies using OrderWise Business Intelligence are now able to benefit from gaining further insight into where profitability targets are being missed and the reasons for why this is happening. From this, OrderWise users can ensure that they have the key business metrics they need in order to make accurate and informed decisions to help promote growth.
For more information on OrderWise including Business Intelligence, download our brochure.
Existing users can visit the OrderWise Online Shop.
To discuss your requirements in more details contact us today on 01522 704083.