CounterPoint is always a great tool for retailers who want to keep a firm grasp on their business operations. But it becomes even more important when selling in a down economy.
How CounterPoint Helps
– It Controls Inventory. Excess inventory leads to poor cash flow, higher interest expenses if using borrowed money, excessive obsolescence, maintenance costs, insurance and taxes to name some of the problems. CounterPoint will identify slow movers that you can mark down and get rid of, and it will provide automated reorder points that will reduce the problem in the future.
– It Reduces Shrinkage. 5% to 8% is the average shrinkage retailers experience. CounterPoint contains end of day reports, exception reports, biometrics – and now a service that will give you real time alerts when unusual events occur whether you’re in the store or not.
– It Contains a Gift Card Program. (Think free loans and unredeemed cards) Gift cards are like free loans with no interest. 12% to 18% are never redeemed. If gift cards are 5% of sales for a $2M store, that a $100k loan plus interest savings. For example, at 8% on that $100k "loan", you save $8k on interest. And if 15% of your gift cards are never redeemed, that’s $15k in free money.
– It Provides Automated Purchasing and Vendor Management. How much time could you save with automated purchasing? It you had data on each vendor, how much could you save on purchasing markdowns? CounterPoint will track and perform both functions for you.
– It Allows More Efficient Staffing. CounterPoint looks at sales by store and by time of day. With this information, staffing can be scheduled accordingly.
What is the Government Doing? Providing an additional 50% depreciation in 2010 for business hardware and software purchases, creating an increased tax deduction.
What is Radiant Doing? Offering low interest leasing options alleviating a large dollar outlay.
And Now a Great Sales Booster
Is It Time to Add an Online Store? People are continuing to shop online more often. Internet sales are growing at an average of 14.3% while "brick and mortar" stores’ sales are decreasing. CP Online provides an integrated database with the same inventory and orders as CounterPoint. The average CP Online store generates $22k per month in revenue. And 47% of purchases at brick and mortar stores occurs after viewing a product online. This may very well be the wave of the future that keeps small and medium sized business afloat.
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