Businesses are familiar with the statistics relating to their accounts: profit and loss, turnover, sales, etc. But fewer actively measure and track the actual activity of the day-to-day processes they engage in.
Large firms have taken advantage of analytical software in order to make savings and streamline their processes to increase profits. Business analysts are paid high salaries to interpret this data and implement changes in company policy. One striking example is WalMart’s “Just In Time” inventory strategy, which saved them millions by cutting down on the amount of storage space required by the firm.
Isolating a particular process, with the time taken and cost to you, can help to analyse whether it needs to be streamlined, expanded, or dropped altogether. The most profitable products and services provided by your business can be focused on, while there may be others you decide are not worth continuing with at all. Statistics can help you evaluate the return on investment from outgoings such as fuel costs, rent, new equipment, storage and man-hours put into specific tasks.
Gathering and interpreting this business data can be difficult, time consuming and sometimes expensive, so the best solution is automatic generation of statistics and reports. But as a small business, you may feel the technology and software required is beyond your means, or too complex to use without IT expertise.
Graftman offers an easy to use, reasonably priced solution to the smaller business. At various points in your case workflow, data is collected and logged, with secure records kept for you to access at any point in the future. Graphs and reports can be generated from this information with criteria and time periods decided on by you. All of this is achieved with one software product, rather than juggling spreadsheets, databases and messaging across multiple programs.
To see how Graftman can help you benefit from keeping track of vital business statistics, get in touch today.