If you want your business to thrive and achieve your ambitious growth goals, there are three important things you need to focus on: running your operations smoothly, keeping your customers happy and well-informed, and managing your finances wisely. These three things work together and play a big role in making your business successful.
Then to manage your finances and maximise profitability you need to optimise revenue generation while reducing your expenses, improving operational efficiency, and making strategic decisions that will result in the greatest overall financial gain for the organisation.
Not an easy task.
Fortunately there is help at hand. Unleashed Inventory Management Software offers several features that can help you to maximise your organisation’s profitability, including pricing and margin management.
Here are some ways you can utilise these features to enhance your profitability:
Unleashed provides real-time visibility into your product costs, allowing you to calculate accurate margins for each item. You can set target margins based on your business goals and track how your pricing decisions affect profitability. This enables you to make informed pricing adjustments to optimise margins and maximise profitability. The Unleashed Business Intelligence tool allows you to view, analyse and measure margin data along multiple dimensions, such as margin by SKU, margin by product type, margin by region and even margin by salesperson.
With Unleashed, you can easily set up quantity discounts for your customers. In your product details, simply enter the minimum quantity and its respective price. Unleashed will store the price and automatically apply it to sales orders. By incentivising larger purchases, you can increase sales while maintaining or even improving your margins. Unleashed helps you manage and automate these pricing structures, making it easier to offer attractive deals to your customers.
Businesses can use digital channels to sell both to their traditional customers more efficiently, and to new business customers via Business-to-Business (B2B) transactions online. Unleashed supports the ability to integrate with multiple eCommerce channels such as Amazon, Woocommerce and Shopify. Allowing you to cater to your customers on the platforms they like to use.
The software enables you to create and manage promotional pricing and campaigns. You can set up discounts for specific products, customer segments, or time-limited promotions. By strategically using promotions, you can drive sales, attract new customers and encourage repeat purchases. Unleashed helps you analyse the effectiveness of your promotions, allowing you to refine your strategies for maximum profitability.
Unleashed tracks your inventory costs, including purchase costs, landed costs (the total price of a product once it has arrived at a buyer’s doorstep) and overhead expenses. The Purchase Cost Analysis Report shows you how each transaction impacts the landed cost so you can analyse how a product’s landed price changes over time. This data allows you to analyse your costs and identify areas where you can optimise your expenses. By reducing costs without sacrificing quality, you can improve your margins and overall profitability.
Unleashed provides demand forecasting capabilities, helping you predict customer demand for your products. By accurately forecasting demand, you can optimise inventory levels, reduce excess stock and avoid stockouts. This minimises holding costs and maximises sales opportunities, contributing to improved profitability.
Unleashed offers comprehensive reporting and analytics features that allow you to gain insights into your pricing and margin performance. With Unleashed’s business intelligence tools you can analyse sales trends, profitability by product or customer, know precisely how you’re performing against your target at all times, and other key metrics. These insights help you identify areas of improvement and make data-driven decisions to increase profitability.
It’s important to note that maximising profitability requires a holistic approach, considering various factors such as market dynamics, customer behaviour, and operational efficiency.
Radical Cloud Solutions are proud implementation partners of Unleashed. Let us know if you’d like to find out more about the powerful capabilities of Unleashed and how you can use it to increase the profitability of your operations.