Nowadays, retail managers have much better access to metrics to analyze their business’s performance. As always, with metrics and business, if we can measure it, we can improve it. And retailers can improve their performance in various ways. This blog tells you several of the most useful KPIs for tracking growth and performance in a…
If you run a small business and you’re ready to get a point-of-sale (POS) system is critical to keep your doors open and for long-term business growth. But sadly, most small business owners don’t think about this until it’s too late. A POS system is something for which you have to plan in advance. It’s…
The instruction came from above, and there is no escape from it: You are responsible for your organization’s vendor management process.You have seen the guidance. You know it’s a big job. But where to start? Vendor Management is the process of continuously assessing the risk to your entity by a third-party vendor and its subcontractors….
It can be intimidating for a small business manager to think about all the point of sale (POS) components you need. With numerous choices in the market, which is the best POS system for restaurants? Read on to find out essential POS system features, from online ordering to front-of-house to get yourself a perfect vendor…
As we continue to work in uncertain times, each company needs to continually assess its overall operations to find out how best to prepare for both best-case and worst-case outcomes. This is especially true for your vendor management program. Many companies invest 50% or more of their capital with external vendors and third parties. Thus…
With what feels like exponential growth in the number of cloud-based solutions available over the past 5 – 10 years, organizations are now better than ever to automate business processes. Automation in some functional areas of business may seem like a no-brainer. But are there use cases for introducing automation into the process when it…
How to improve customer service experience? Focus on your employees and engage not only their minds but their hearts as well. Many retail stores offer similar or the same products as yours. Anything else is available online. If your customers can only expect one product, you are directly competing with every other retailer online or…
Risk is always associated with any type of business, especially third-party risks and challenges. This blog gives you a complete overview of Third-Party Risk Management (aka TPRM) to safeguard your business and vendor management strategy. What is third-party risk management? It’s a form of risk management that concentrates on identifying and mitigating risks. This form…
