As a franchisor or franchise owner, it’s natural to be concerned as far as the increase in revenue earnings and financial growth of your franchise business is concerned. To win over this apprehension it’s vital that you implement franchise management software and make the most of the high efficiency it furnishes.
Franchise management software comes up with a broad-based array of key features to make sure your franchise business succeeds in generating revenue and garnering profits both in the short term as well as in the long term. Some of the most notable ones include the following.
- Franchise management software provides quick deployment
There are vital methodologies that call for application in course of the process of consolidation of different franchise-related financial aspects. Franchise management system facilitates the fast deployment of these methodologies. In consequence, you need to take the feedback of customers into account with regard to the level of quickness with which the software model functions during the methodologies. Franchise management software deployment can be completed within a span of a few weeks.
- Franchise management software includes MS Excel integration
MS Excel is one such reporting tool that’s not just easy to manage but is high-yielding as well. That’s why to keep an eye on finances, its integration with franchise management software is imperative. Several team members especially from finance find using Excel highly comfortable and productive. Excel is very user-friendly and the majority of businesspeople have a profound familiarity with the tool. That’s why incorporating Excel into franchise management can play a great role in boosting the moneymaking prospects of your franchise.
- Franchise management software provides data integration
As far as utilizing franchise management software to its fullest potential is concerned, the aspect of all-encompassing data integration should be taken into account as well. This won’t give rise to situations where you have different non-uniform, mismatched data across the entire franchise. As a consequence, your business efficiency will rise with Excel integration combined with primary data integration because of the very fact you can input data into excel format for generating reports, dashboards, etc. It’s always in your best interest to see to it you’re able to consolidate transactional data with different components of franchise management software to garner optimal profitable outcomes for your business.
- Franchise management software fulfills customization needs
The design of franchise management software is conceived to mainly satisfy franchise needs at every level and takes off the burden from all angles. Furthermore, franchise management allows timely completion of all necessary tasks besides empowering you to achieve all your unique financial performance goals. The franchise management system also exhibits promptness in adapting to performance assessment goals by generating lucid, accurate reports and giving you the acumen to review them and take corrective actions wherever needed.
- Franchise management software includes direct ownership as well as setup
This is indicative of the fact that franchise management software provides effortless administration. For instance, to make operations simpler, it’s ideal for the software to offer an interface that has got the drag and drop functionality so that you can configure the changes and implement them alongside automating workflows. Besides, the software doesn’t require too many professionals for its setup and allows you to become proficient in handling it in a short time span.
In addition, there are three basic features of franchise management solutions that contribute significantly to revenue-earning possibilities. Regardless of whether you’re in search of something new in the market, or simply need to carry out an audit of your existing CRM system to examine how it complies with industry standards franchise management software can do you a good turn when it comes to increasing business profitability. Even though the list of standard features discussed below isn’t an exhaustive one, still all leading software solutions offer them, intending to amplify efficiency and attract profit-worthy possibilities.
- All-inclusive franchise management software helps get rid of redundancies as well as compatibility errors.
One major stumbling block that most franchises are forced to contend with while trying to go digital is the level of compatibility the software in charge of operations and management offers. Even though the days of rampant compatibility problems resulting in likely data loss and system instability are long gone, still, issues related to ill-matched software, every now and then, can lead to some big-budget redundancies. For instance, if QuickBooks, your accounting software doesn’t have compatibility with co-existing marketing analytics tools, you’re left with no option but to input data manually.
Compatibility problems have majorly plagued both erstwhile and existing franchise owners. This has led to the creation of the best-in-class franchise management software that possesses the capability to do everything all by itself. Consequently, you can simply part with the idea of going out, purchasing them, and getting them assembled to effectuate compatibility. Franchise software comprises many modules that smoothly integrate with commonly shared data points and offer full compatibility with any accounting software to do away with software mismatch concerns and mundane data entry jobs.
- Franchise management software helps monitor key franchise metrics in real-time
If there’s a delay in getting your monthly, odds are you’re losing out on key growth opportunities. With franchise management by your side, the franchise headquarter can carry out monitoring of cash inflow/outflow, expenses, and profits and losses in real-time regardless of the mobile device used. Having these business metrics readily available, it’s more likely that you can make quick responses to potential threats and grab profit-worthy opportunities prior to competition winning them. In the franchise business world, every so often, this is known as bringing about improvement in “visibility”. The term alludes to the efforts put in to whip up more prominence and accessibility for important metrics for leaders and managers to take notice of. Visibility is generally looked upon as a precondition to pulling off data-driven well informed decision-making.
Franchise software puts the key performance indicators on display by presenting all data through an intuitive dashboard and that too in real-time. Irrespective of whether you happen to be a franchisee keen on scrutinizing every sale detail or a franchisor contemplating sneaking into the next big market, fully scalable franchise management sets the seal on bringing optimization of the planning competence and flexibility of your franchise to pass in real-time.
- Franchise management software puts forward an all-embracing enterprise management interface
Task automation is highly praiseworthy and worth its weight in gold. An expert, be it a franchisor, franchisee, employee, sales rep, or field rep has more things to do than devoting ample time to the execution of mundane jobs when in reality a simple software can be put to use to do the same work more quickly. Besides the odds to commit human error are eliminated.
Without franchise management software, it’s impossible to run large franchises. This is because the software does seamless integration of data from various outlets, branches, and territories. All-embracing enterprise management software helps unify all data pertaining to sales, marketing, operations, and development to make well-informed decisions of great, favorable consequences. The software helps in the automation of low-value data-sorting jobs that otherwise would’ve caused a distraction to regional managers and impeded strategic planning in the long term.