There are multiple guides pointing to the top tech trends of 2016 including Gartner, Inc. and Harvard Business Review. Many of these trend articles for the new year discuss the influx of data, data sources, information analysis, and complex data sets. They skip right into high-level possibilities of advanced machine learning and Internet of Things platforms, yet enterprises are still struggling with what the data tells them and how they can act on the insights. As data gets increasingly complex, it is now more critical than ever to make sure those in charge of execution, your district and store managers, understand how to leverage data effectively.

Looking back at recent, successful business technology trends, CRM software leads the pack. Smart CRM systems have redefined how enterprises can use technology to organize, automate, and synchronize data and improve performance driving processes. They can be highly effective, but they focus primarily on sales and customer relationships and are also geared toward the corporate user, not the district or store manager. CRMs have been so successful that businesses often retrofit CRMs to handle data and automate processes outside of the sales and marketing processes they were created to handle.

A New Approach to Process Improvement

So, what can new software can bring the capabilities and practicality of CRM but focus on processes outside of sales and marketing? As business and IT managers prepare for their next budget cycle, we recommend looking at emerging technologies for next-generation IT or software solutions. These emerging technologies—ones that focus on new process improvements and enterprise strategies—offer growth opportunities that could make or break enterprises.

Store Relationship Management (SRM) takes the same cloud characteristics of CRM software—to organize, automate, and synchronize data and ensure employee action—but focuses specifically on store performance and the needs of the district and store managers.

Because of their dispersed organizational structure, multi-unit retailers face communication and alignment roadblocks. It’s hard to keep individual stores or franchises functioning cohesively and performing well. SRM software helps multi-unit enterprises align stores with smart data and streamlined communication about store performance.

Turning Data into Action

SRM software gathers disparate data into one place, and delivers a comprehensive and holistic view of performance KPIs, so everyone across an enterprise can access, understand, and use the information to make data-inspired decisions. Data is only the first step; enterprises need to use data to implement plans and ensure accountability. An SRM platform delivers functionality that empowers district and store managers to follow through on actions that actually improve store performance.

Data insights and action plans capabilities are also supported by collaboration tools. Users can easily create and share performance dashboards, action plans, and documents, so the right people have the right information they need to make decisions.

With CoEFFICIENT®:

  •       Corporate delivers a focused and consistent message across all stores
  •       Stores understand the impact their decisions have on performance goals
  •       And district managers become consultants who can better unify corporate strategy to store execution

Like CRM, an SRM platform is focused on streamlining internal processes to help boost productivity, efficiency, and profitability. In 2016, companies need to look beyond CRM for additional performance driving opportunities. SRM focuses on new internal process improvements and gives district and store managers an entirely new way to navigate the complexity of multi-unit retail operations.

Interested in learning more about our SRM platform? Request a demo now.