The Top 5 Counterpoint Reports You Should Be Using in Your Business
Are You Running the Right Reports That Reflect Your Business’ Bottom Line?
Regardless the size of your business, having the most actionable data and performance key indicators is critical. Our Top 5 Counterpoint Reports to make a habit of using can provide valuable insight into the health of your business and bottom line.
Getting actionable data out of your Point of Sale System shouldn’t be rocket science. NCR Counterpoint includes more than 40 built-in powerful reports designed to help you take stock of your inventory, sales and business performance. Running the correct and most meaningful reports can help you make better decisions in your pricing, merchandising, and purchasing. Having the right data can increase your turn rate and maximize your gross margin return on investment (GMROI).
1. Inventory Analysis Report
The Inventory Analysis Report gives you valuable sale performance data on your inventory. You can quickly respond to demand and/or shortages as they occur. With your focus clearly on your inventory’s slow and fast movers, over-stock or under sold items, you can leverage this analysis to make more informed purchasing decisions.
But how do you discover sales trends or store performance? Simply using the proper ranking your reporting by inventory quantity on hand, inventory value or even profit potential, you can truly make a difference in how quickly you can react and forecast in your purchasing.
2. Inventory Status Report
Do you know the current status your inventory? At the Item Level? Or by Vendor? The Inventory Status Report provides valuable performance indicators on the number of units on-hand, on-order, last ordered, and even min/max levels. This report helps you find out-of-normal values for items.
The Inventory Status Report can report at the granular level by items or summarized at the vendor category level. NCR Counterpoint can also break out the reporting on a per location basis. What about that last physical inventory count you performed? The Inventory Status report can report on items last counted during a physical inventory.
3. Flash Sales Report
The Flash Sales Report in NCR Counterpoint provides a powerful view into store performance during a reported period of time. This report provides a quick, one-page summary of total sales, number of tickets, average sales dollars per ticket. The Flash Sales Report can also reveal cost of sales and gross profit during specified or comparative date ranges.
What if you wanted to view your top store or location by percentage of sales? The Flash Sales Report can show which store or location is performing or underperforming.
4. Sales Analysis By Group
Also included in the Top 5 Counterpoint Reports, is the Sales Analysis by Group. This report provides valuable historical sales information based on groupings you select for items, categories, subcategories, and vendors. You can run the Sales Analysis by Group for some single or multiple stores.
You can select up to 11 quantitative columns and define up the three comparative date ranges with the Sales Analysis Report. There is a feature to run the report based on top/bottom performers as well as a pie chart feature. You can then save the parameters you used to use this report in the future.
5. Merchandise Analysis Report
Do you know your stock turn rate or GMROI (gross margin returns on investment)? See the current state and past performance of inventory, sales, transfers and receiving by reporting on multiple data types in the Merchandise Analysis Report. You will gain a bigger picture with a variety of available key performance indicators due to the flexibility of grouping the report by items, vendors, category or sub-categories.
The Merchandise Analysis Report can also reveal a true “hot” and “cold” analysis of inventory items. You can configure the report to show you the “hottest based on quantity sold” or the “coldest based on turn rate”. Know which items to mark down or identify “opportunistic buys” quickly with precision. After you run a report you can save the parameters to quickly recall the report design.
Adding these Top 5 Counterpoint Reports in your daily view and making a conscious habit of utilizing their data to manage your business, you will surely get the most return on investment from your NCR Counterpoint Point of Sale and Retail Management System. A part of efficiently growing your business to its fullest potential is making better informed business decisions.