If you are a retail chain, having multiple outlet then one question that always runs in your head is – how are my stores performing? Which store is the top performer for the fiscal quarter / year? With data coming from so many channels, it becomes very difficult for the organization to compile and collate the data and then run analytics on it. The MIS team runs through series of spreadsheets before the Board Meeting to provide visibility into their performance.
What is mentioned above is also been reiterated by some of the experts in the industry like Ken Morris of Boston Retail Partners, Jon Weber from L.E.K Consulting, Doug Fleener from Dynamic Experiences Group and many more. According to these experts, one of the major challenge that the industry is facing is “Omnichannel Dilemma”. This can be further drilled down into three areas (Source:http://www.cpcstrategy.com/blog/2014/10/state-of-retail-industry-trends-2015/)
1. Data and data management
2. Inventory visibility
3. Technology Innovation
So how does Sodales Solution play a critical role in addressing this Omnichannel Dilemma. The answer lies in the Retail Analytical App, which is developed specifically for the retail chains who face this challenge of having data coming from multiple channels.
Retail companies need a very simple and easy to understand dashboard so that they can capture key insights and take necessary decisions. The retail analytical app takes care of this which you can see in the image below
For a retail company, this app will help you by providing the following features
1. Pre-built KPIs for retail industry such as actuals vs. targets, revenues achieved by product line, and market share
2. Dashboard overview of top performing accounts by stores and product categories, inventory status and sales trending etc
3. Track sales performance by region, stores, product lines etc
4. Monitor profitability of product lines
5. Manage inventory and cut holding costs
Some of the intriguing elements of this app which is a true value proposition for retail companies:
1. Fiori UX with mobile enabled smart analytics for each persona
2. Coherent and simple usage
3. Tool agnostic BI framework
4. Configurable KPIs
5. Ready to run- connects with any backend
6. Device agnostic
The industry is moving at a breathtaking pace and the customers are now very well informed. The challenge for retail companies is to ensure that they are always customer centric. Having technology drive the innovation at the organization level, will allow each and every member of the organization focus on increasing their footfalls and thereby capturing more customer base.
Sodales Solution helps the retail companies in this journey of technology innovation. Sodales Solutions is an award winning SAP Partner organization and the first SAP Certified Partner for Fiori. Sodales has developed strong competency on the HANA Cloud Platform with S/4 HANA extensions and providing enhanced user experience using SAP Fiori UX
To know more about our Industry Specific Analytic apps, please write to us at sana.salam@sodalessolutions.com or call us at +1.647.824.4286
