Reporting for Product Based Businesses
It's more than sales
If your reporting consists solely of Sales and Cost of Goods Sold (COGS), then you are missing out on a lot of important information. When your reporting starts dealing with metrics like average inventory days and incorporating full landed costs in the margin, all broken down by any combination of customer, time period, product and location, then you are starting to get some insight. Add in automated real-time refresh so that you can spot areas of concern early instead of waiting until the end of the month and your reporting becomes more meaningful.
See What's Working
With a reporting solution from Exact, you will be able to slice and dice your sales data to identify products and verticals where you are performing strongly. Using that information, you can work on promoting that sector more strongly or finding insights that you can transfer to other areas that aren't performing as well.
Taking Stock
In a product based business, every item on the shelf represents working capital, cash the business has tied up in inventory. Having items in stock that customers want to buy is a good thing but it's important to right-size the amount of a product in stock so you don't have all your cash tied up in assets which will be slow to move. Your reporting needs to provide stock metrics, as these are just as important as sales figures.
Early Intervention
If you are only getting reports at the end of the month or the quarter, then by the time you find out you have an issue it is already too late to fix it. With real-time on demand reporting from Exact, you can see exactly how you are tracking at any point in time and take action early. You can fix issues before they become a big deal.
Consolidate Data
If you're like most businesses, you have data in all sorts of places (including the spreadsheets you pretend don't exist). A reporting solution that brings all of those separate data sources together will give you a complete picture of the performance of your business and allow you to view the information by more dimensions.
Upgrade to an advanced reporting solution today
Get in touch with us now and let the experts in reporting for product based businesses at Exact help you to set up an advanced reporting solution that will support you with genuine insights as they happen.