If you run a retail store, you probably know on some level that your software is based on Microsoft Excel, or something very similar. What you may not know is how many of your daily activities are, or could be, based on Excel.
The basics
These are the things you would hope Excel was already doing in their store. Nothing amazing, but the solid basic functionality of the spreadsheet program is worth mentioning.
Accounting
It’s almost a given that your basic accounting program uses Excel to track, manipulate, and examine numbers. It’s simply the best tool for the job, given its ability to perform calculations, display graphs, and gather information from a wide variety of sources.
Point of sale Many POS systems around the world use an Excel-based program, essentially a “mask” that is placed over an Excel spreadsheet, to generate everything from accurate sales tax calculations to printable receipts.
Inventory
Excel is also perfect for keeping track of the inventory of all the items in your store. With Excel’s ability to send an automated email whenever a particular item is out of stock, it’s easy to ensure you have adequate stock of all items at all times.
Billing
With a bit of a template, Excel can produce very professional invoices for your various ancillary services, like carpet cleaning and other maintenance.
Planning
Excel’s charting capability makes it easy to allocate employee hours and get an immediate visual representation that will show gaps or excesses in your coverage.
more interesting purposes
Here are some things Excel could be doing for you that you probably aren’t involved in yet, but if you think outside the box a bit, you’ll see how they could improve your business.
Customer tracking
If your business is small, or the type that generates frequent repeat visits, it might be worth setting up a customer tracking system that gives your employees the ability to take notes on your customers, the more they feel like you know them. , the stronger the loyalty they will feel!
employee performance
Whether you track them by how much they tip, how well they meet the goals of specific promotional campaigns (see below), or simply by how much money they bring in while they’re on the job, Excel lets you recognize which employees are the best. most valuable to your business.
Promotional Tracking
Speaking of promotional campaigns, Excel can be easily configured to track specific goals and how close your employees, as individuals, groups, or as a whole, have come to reaching those goals.
projections
Excel’s ability to extrapolate data and project likely future numbers can help you plan for special events or just regular seasonal changes. With more and more details, Excel’s ability to create accurate projects gets better and better.
Dirty
Creating sales by discounting your merchandise is always a risky business. You can attract enough additional customers to make a full profit, or you can simply use up the profits you’re making. Excel’s ability to create and test scenarios can show you exactly what to do to make a sale successful, or when to pull the plug if it doesn’t work.
Excel has such a wide range of capabilities, from mundane math functions to beautiful templates, advanced extrapolations, and scenario testing software, that its ability to help with almost every aspect of retail is unparalleled. If you’re not using Excel in your retail store, maybe you should see what it can do for you.
