Retail businesses are now collecting more data than ever before, but the buying and merchandising teams are creaking under the strain of trying to manage unwieldy and complex spreadsheets.
This increases business risk because:
• Cutting and pasting data increases the risk of errors
• Decisions are made using the wrong information
• A lack of agility means an inability to respond to changing requirements
Five key steps to reduce risk around merchandising data:
1. Ensure that your buying and merchandising team is working from a single source of data and that there are no duplicate copies of spreadsheets in circulation.
2. Validate all operational data against a trusted data source, such as a master database, central merchandising system or ERP system.
3. Synchronise and verify the data in spreadsheets against other operational spreadsheet data.
4. Store your master data on a secure server in the cloud, so that it can be accessed remotely, eliminating the need to email data and store it on laptops or mobile devices.
5. Eliminate the need to copy and paste data from one spreadsheet into another when rolling up data to produce reports.
If you think this is impossible, then read on...
Info-CTRL for Retail is the answer. It delivers real-time information, integrity and control of data, without changing the way that everybody works.
Info-CTRL for Retail is a unique cloud-based solution that enables buyers, merchandisers and finance teams to make decisions using real-time information. It protects the company’s master data, holding it centrally in a secure database and ensuring it is accurate and up to date.
It enables everyone to work with their current spreadsheets, while uploading and downloading the latest data from the master database in the cloud. It eliminates workarounds and delivers data integrity and control like never before. Data verification and validation is built in, giving you ‘one version of the truth’.
Info-CTRL for Retail is low cost and fast to implement.