Coming out of COVID-19, retailers are under increasing pressure to determine how to make their brick-and-mortar channel work. Declining traffic, smaller teams, and more safety and in-store fulfillment tasks mean that the financial model must adapt if stores are to survive.
That’s where Precision Budgeting helps. By combining, and analyzing, all key store information in one-place, Precision Budgeting provides Finance and Store Operations with the insights and recommendations needed to make smarter decisions around how best to optimize a store network, the right sales targets for each store, and how best to allocate labor across the fleet. The results – the right number and types of stores across the network, realistic sales targets, reduced waste in labor spend, the ability to quickly address performance issues, and best positioning the store network to achieve long-term solvency.
Read below to learn how Precision Budgeting can help Finance and Store Operations drive efficiency, make smarter decisions, and increase agility across the store fleet.