What Kind of Reporting You Must Enable at Your Repair Store?
Do you know your repair store numbers? Are you continuously monitoring them on your point of sales software? No?
Well, if not then how are you the guru of your repair business if you don’t know what is happening in it? There are countless activities happening at your repair store from repairs to retail sales. Your repair shop not only repairs devices but also sells accessories, parts, and refurbished devices. With all this happening you need a proper system to keep a track of it all.
Apart from keeping track, it’s essential to have detailed knowledge about your business’ sales, revenue, employee performance, etc. over a specific period. So what module helps you give a detailed view of your business.
It’s as simple as generating reports in your software for repair shop. There are reports for every module and function taking place in the business. By analysing them you can change the game for your business. At least you are not a blank canvas who will be painted by sudden profit and losses in the business. Instead of that, you will work strategically by knowing your numbers and where your repair store stands.
So with a slight introduction to the importance of reporting in your repair business, let’s see which reports you should generate for your repair store business.
Managing one store is a hectic job itself. Now, what if you have multiple repair stores at different locations. How will you deal with all the business operations across multiple locations? Knowing that there are hundreds of tasks to perform on a daily basis. You have to deal with your customers at the different repair stores. If you are also working as a retailer such as selling phone or computer accessories you should also keep a track of all those sales of your multiple repair stores. Apart from that, you will have to maintain inventory for repair device parts and accessories. Even thinking about it gives you anxiety. Now multiple all this work to the number of repair stores you have at different locations and don’t forget each has its own challenges as well such as transportation, location, customers, etc.
Yes, deploying a point of sales software has solved your operation and tracking problem but what about weekly, monthly, or yearly records. What about stats and figures? How will you evaluate and compare your multiple repair stores over time?
The solution is a multi-store dashboard report. It allows you to view all the details of your multiple stores across different locations. With that information, you would know what is happening and which items are entering and leaving.
Inventory leakage, theft, and errors are common problems in every repair store. There are occasions when the supplier has delivered your device parts and your employee forgot to enter it in the phone repair shop software. This leads to a great loss and it can damage your business. In the other instances, it can happen that your inventory goes missing and there is an imbalance in physical and accounting stock.
All this can be solve by simply generating a transaction log report. By analysing it you can identify the dip in sales in a specific period and know where the error occurred. It will help you avoid future errors and omissions.
As the name suggests it gives you a summary of your profits with a specific time and how much you have lagged in sales than the previous week, month or year. By having an expense report you can easily highlight your profitable parts of the repair store and focus more on improving others in sales as well. Along with that, you can keep a track of your profit margins and also find ways to reduce your taxes.
This report gives you a comprehensive view right on your dashboard. It shows how much your business has progressed, which modules need attention and how will you plan for the future. All the details of your repair store whether its inventory, sales, purchases, etc are right there for you 24/7 on your point of sales software to analyze.
Sales Summary Report
This is related to your inventory majorly. A sales summary report presents how much you have sold within a specific range of time. You can generate this report for every item you sell so that you know how well your accessories or phone and computer parts are doing in the market. Also, you can generate a collective report to map all your sales progress or loss. Just one click and all the data is in your hand.
The reconciliation report provides information about all the payments, refunds, and offline credit cards. By looking at it you will get a precise idea of how many payments and refunds your repair store business has gone through over time. Was it a profit or loss? And it will be all documented too. Hence you will have a brief on all financial operations of your phone repair business by generating this report from phone repair shop software.
An employee report is crucial for a business as it maps all the employee’s performance, KPIs, progress or overtime, etc. This will help you to monitor the activities of each employee individually and how much they have grown over time. You can make important decisions about their career i-e promotions by looking at the performance chart or I say employee productivity report.
Analytics and Reporting can help you simplify your daily operations because these provide a quick way to examine where your repair store stands.
Enabling the above-mentioned reporting weekly or bi-weekly can help you make better business decisions. Do try it and let me know how far it took your business on the road to success?