As the saying goes, time is money. But, many growing companies struggle to streamline processes to maximize efficiency as they scale. At Salos Services, we specialize in using business data to tell a story and answer important business questions. By answering these questions, the companies we work with can increase revenue, decrease costs and scale more quickly. Ultimately, these process improvements and systems automations save time and money. By using our customized Business Intelligence processes and proprietary software, Neptune, Salos Services can help companies of all sizes.
This fast-growing company in the wireless industry is a retail partner to a large national mobile provider with more than 150 stores across the United States. Their strategy of combining rock-solid traditional retail disciplines with cutting-edge use of video, social media and analytics drives their sales performance. However, as the company rapidly grew, its reporting processes could not keep pace. As a result, the organization experienced two major issues that consequently slowed its growth.
Grower’s Organic is a Denver-based food distributor specializing in connecting the public to local and regionally grown produce. The company is passionate about food that is fresh and embraces a personal, community-driven approach to produce distribution. While the company does use an inventory management software, it did not provide the information needed for the business to grow.
Issue 1: Wasting time and money
Two full-time employees were compiling reports using archaic processes and manual entry technology. This method was so costly and time-consuming that reports were not available in real-time, but on a three to four-day delay. Often the company’s data was tracked on whiteboards in offices or on printed reports, rather than in a central, digital, easily updated space. Sales leaders were also spending hours each week preparing reports for meetings. In addition, the company did not have a reliable process in which to receive new or one-time reports.
Issue 2: The sense of the unknown
The complexity of the company’s cash-flow was costing the organization an unknown, but a substantial amount of money. The company would sell items, collect the money, and then send a portion of it to the parent company, which would then charge them back for the product, rebates for promotions, and bills. The parent company would then send a commission back to the retailer. The retailer believed that this discrepancy came from accounting errors and rule violations from their employees.
Solution 1: After learning the inner workings of this retailer, Salos designed and deployed a Business Intelligence system that could create reports in real-time. This saved FTE hours and provided greater operational efficiency. It also gave executives and managers their time back by automating and centralizing reporting processes. No more whiteboards to update!
Solution 2: Using Neptune, Salos integrated two data sets by combining the data in a way not previously achievable and automated the analysis to create a real-time review of the company’s cash flow. This saved the company more than $80,000 in the first three months by eliminating human error. The system continues to help the retailer better manage its teams and catch costly accounting mistakes.
Issue 1: Lost Revenue from Inventory Management
Grower’s Organic was losing potential income due to a lack of inventory management, specifically related to not being able to fulfill a customer’s order. The company’s inventory management system was unable to understand the demand of customer orders.
Issue 2: Lost Revenue from Client Management
The Grower’s Organic sales team was unable to quickly analyze its customers and their buying trends. As a result, some accounts that needed nurturing were left untended and money was left on the table,
By combining Grower’s Organic’s data, Salos Services created a new automated reporting system. Salos also used Neptune to automate customer analysis. Now, Grower’s Organic can accurately use its data to make informed decisions to drive and grow the business.
Solution 1: Salos used Business Intelligence to identify customer order trends to focus on product procurement. This helped Grower’s Organic understand the demand for specific products over a specific period of time to inform and improve ordering decisions.
Solution 2: Business Intelligence created a visualization that helped the sales team understand customer ordering trends to facilitate a conversation and nurture client relationships. This, in turn, allowed the company to address revenue decreases more quickly and build stronger relationships. An example of the scatter-plot visualization is shown below:
Salos Services can transform how your business collects, organizes, filters, and analyzes data. With proper data analysis, any business can improve its processes, increase its revenue, and reduce its expenses to operate more efficiently and effectively. If you want to unleash the potential of your company’s data, then Salos Services is the right partner for the job. Click here to learn more about our proprietary approach to Business Intelligence and how it can help your business grow.