Real time reports are growing in importance in the retail world. In addition to showing a store’s activity as it happens, it provides owners with summaries of important data such as store purchases and visitor history. Real time reporting can also provide your store with an edge over the competition, increasing your revenue potential. If this is the first time you’ve heard of this, read how real time reports can give you a competitive advantage in operations and planning.

Learn What’s in Stock and What’s Out of Stock

Real-Time-Report-Generator-Software-ToolWith real time data, you can find out which items are in stock and which are going to end soon. If you want to ensure your customers’ loyalty and business in the future, it is vital that your inventory is up-to-date and fully stocked to meet customer demands.  When your inventory is not up to date, you’re not only losing out on sales, you’re also decreasing customer satisfaction. In order to prevent your customers from leaving you for your competitors, make sure that your inventory numbers are up-to-date so you can plan accordingly.

Motivate Top Sellers

The best real time reports generator can help you identify the best salespeople on your floor, especially those who are successfully managing strong sales numbers during peak times. You can further motivate your best employees by rewarding them with small incentives or even a raise if they’ve maintained top quality for long. You can also come up with fun, motivational contests if you feel that morale is low. On the other hand, you can make swift decisions to prevent ineffective employees from affecting the rest of the staff and bringing down overall sales.

Check on Sales (and Detect Fraud)

A real time reports solution has the power to inform you about the sales made any time of the day. Furthermore, if the software comes with a mobile app; you’ll always know how much your business is making. This will help monitor and deter employee theft. Moreover, learning how much your business makes and at which times will provide you with insight, helping you make instant and intelligent adjustments to products, pricing or merchandising. This will further increase your sales and add to your profits.

Find Out About Your Customers

By tracking sales, you can also learn about your customers and understand how they make a purchase decision. As a result, you can match on-hand inventory data with historical customer buying preferences, enabling your salespeople to make more intelligent product recommendations. This will show your customers that you are in tune with their buying habits and thereby ensuring their loyalty for the long run.

 Match Clients with What they Need from Any Store

Real time reporting software can act as a data hub for all the stores in your chain. If you discover that a certain store lacks a certain product, you can quickly arrange for it to be put on hold at another store in your chain. After all, with real-time information, you know what inventory is on hand at any given time, at any given store. Therefore, instead of losing your client, you can develop a stronger bond with them and offer great customer service by delivering the item to their home.

Real time reports are vital for your success, so make sure that your current retail management system can deliver real-time data. If it can’t, check out Xformity, the #1 solution chosen by top retailers in the U.S. Not only will you get the best real time reports generator around, but you’ll be able to create a wide range of sales, labor and operations reports. Moreover, Xformity comes with a data visualizer that allows you to create graphs and charts to recognize trends. With a mobile app to add, this solution will always keep you connected to your store or restaurant.

Schedule your customized demo today and discover the power of Xformity.