Get the best results out of the conversion report now available on our new Boost platform
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It might seem odd to suggest that we should understand our cash flow; how could we not understand it? It seems straightforward: money in from customers, money out on purchases and expenses and what’s left is profit.
But is it really that simple?
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The focus of this article is on the potential of AI to improve our business.
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Our stock is one of the most significant areas of loss in our businesses. We either don’t see it because we lack robust stock control processes, or we see it when we do a stock take, and we end up writing off stock that we don’t have.
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After 17 years in flooring retail and 15 years in systems for flooring businesses, I'd like to share my perspective on how quantifying holds back flooring businesses. I have experienced it myself, and we regularly interact with clients who face the same challenge.
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Within the flooring industry, many businesses have been victims of employee fraud. Almost invariably at the hands of longstanding and trusted employees.
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When customers stop walking in, every missed sale hurts—SWOT can help turn that around.
We are negotiating some interesting times, and when things are interesting, consumer confidence tends to fall along with spending.
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