Managing a great franchise would be unfeasible devoid of a franchise ERP Software. ERP stands for Enterprise Resource Planning, and it is essentially a means for a franchise organization to use a system or software to manage their commerce processes in an automatic manner. Cloud-based franchise software systems, or Franchise ERPs, allow the user to grip large business networks. It is similar to retail ERP software with a full set of retail tools but it supports multiple sites and multiple franchise locations, allowing for the smooth analysis of large data. Franchisors can select what data they send and receive from franchisees allowing them some level of business intelligence. The reimbursements of such a system are endless, but here are some of the most significant features.
A franchise ERP or Franchise management software system gives the franchisor corporate level inventory visibility. You can place purchase orders based on min/max inventory levels and connect directly to the supplier chain. The automatic stock replenishment tool can be used all across the franchise chain giving individual franchisees historical data and seasonal trends. In a nutshell, what this means, is that franchisors are fully aware of what is going where and franchisees have a complete idea of their supply. Everyone is aware of how much product they have and if they will expression any problems with shortages or blowouts in the future.
The return of customers to an individual branch depends on the quality of customer service and relations the franchise provides. The more an outlet sells, the more the revenue for all parties involved. Customer loyalty and sales promotion tools provided by franchise management software systems drive more customers to outlets. In addition, some Franchise ERPs also have a CRM that is dedicated to the sale of new Franchises. This is extremely important for emerging and established franchisors because identifying, qualifying, awarding and onboarding of new franchise units plays a big part in expanding the reach of that franchisor.
Franchise management software is the middle ground where franchisors and franchisees meet and interact. You can avoid conflict free inspections of outlets by monitoring them in real time. Almost all franchise software systems nowadays are cloud based. This means they can be accessed from smartphones and tablets. By looking and comparing sales and supply chains of outlets you can tell how the business is performing. Areas of concern can be pinpointed and sales and management goals can be finalized to rectify any issues. Historical information also allows you to spot problems early. This means actual in-person inspections are faster and are not needed as regularly, making the franchise feel a greater level of freedom.
A good franchise software system can be used to allow franchisees to conduct their own individual limited marketing. This gives each business owner more freedom and flexibility. The schematics of a marketing campaign can be shared through the software with head office and other franchise owners. The campaign can be adopted, improved, monitored and tailored in real time. You know, the old saying, 'two heads are better than one.' If you have great ideas, spread the word and get quick feedback.
Through Franchise ERP software, head office can check important data like revenue, cash flow, profits, losses and expenses per franchise. All of this is done without the need for traditional time-consuming reporting. The software system provides an individual enterprise management dashboard. You can run your outlet the way you see fit and compare your methodology with other outlets and see how they are performing arts through benchmarking metrics that can be published by the franchisor on each franchisee’s dashboard. This sense of competition can be very motivational to a business owner. Without features like staff directories, email marketing, digital documentation and a franchise communication channel, a large permission cannot survive without a great system.