In the retail sector, inventory is considered one of the main financial assets. However, according to a survey by HSR, specialized in market studies, less than 40% of retailers invest in inventory management systems. The importance of adopting efficient management and process automation has proven to be essential solutions for minimizing errors, optimize resources and avoid financial losses
An effective management is essential for the growth and stability of a company. Investing time in recognizing and correcting the most common mistakes can optimize services and make daily life easier, avoiding unpleasant surprises and even ensuring more opportunities for business, William Santos states, commercial director of VarejOnline, company specialized in technology for store management, franchises and points of sale (POS).
VarejOnline serves networks such as the L’occitane Group, Decor Colors, Petland, among other major operations; the experience in the segment allows William to bring insights on the topic. The specialist highlights some simple actions, but can transform the reality of your retail and avoid financial problems. Check it out
1. Have daily cash control
Many franchisees neglect daily cash control, what can lead to discrepancies and significant losses in the medium and long term. William emphasizes the need to record all transactions, from large sales to smaller expenses, including in-person sales and e-commerce sales.
An unorganized drawer can turn into a snowball effect. Reserve some time, every day, to focus on this management is essential. To make it easier, the solution is to implement a cash register system and ensure that it is followed and constantly updated, explain
2. Separate personal finances from business finances
It is common for some retailers to mix personal finances with business finances,mainly when dealing with more than one point of sale.William warns that this practice can obscure the true view of the unit's performance and create serious fiscal and cash problems. The solution is to establish separate bank accounts for the business and for personal use, ensuring a clear separation
3. Ensure the anticipation of seasonal expenses
Seasonal expenses, as quarterly taxes, license renewal and restocking on holidays, franchisees are often caught by surprise. If there is no planning, these expenses cause tight spots that could be avoided. William recommends creating a detailed payment calendar, that you consider these seasonal expenses and help to set aside funds appropriately.
4. Value the analysis of financial data
Analyzing the company's budget data regularly can help franchisees identify patterns, trends and areas for improvement. That's why, keep the control up to date and monitor closely.
It is important to dedicate time to the periodic review of reports and seek insights to optimize the financial management of the franchise. Today, management systems, the famous ERPs, they can present the main data to retailers, or even connect to APIs to customize operations according to the needs of each business, explain the specialist
5. Investing in training and financial education
It is not enough to have management tools and not know how to use them, you don't even understand the subject. William encourages owners to constantly seek courses, workshops and resources that help them improve their financial skills and those of their team.
Knowledge is a powerful tool. Some ERP companies even include employee training when offering the solution. This makes management smarter and reduces the vulnerability of the business, concludes
