If truth be told, franchising is thought of as one of the most efficient and fast-moving ways to make inroads into new markets. As a consequence, the development of franchises is considered of greatest importance as far as both new and mainstream investors are concerned. Read on to familiarize yourself with how franchise management software makes franchise operations simpler.
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It helps in tracking active franchisees.
Cloud-based franchise management software helps in the consolidation of all key metrics related to franchisees in the form of a comprehensive, graphic dashboard that can be monitored in real-time. The dashboard exhibits vital information in the form of yearly and system summary charts, and many more minutiae.
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It helps in eliminating administrative redundancies.
It’s very much clear to all and sundry franchise business developers remain hard-pressed at work all the time. The majority of franchise developers are keen on devoting very less time to performing mundane, daily administrative jobs. The main aim is to spare extensive time interacting with prospects and securing franchise sales. Franchise management software can come to your aid as it’s designed with the objective to eliminate redundancies at all turns. Regardless of whether you’re in need of considerable time savings with traditional franchise information confined within high-yielding correspondence templates or discarding unnecessary data-entry jobs through the complete transfer of lead information into an integrated accounting module subsequent to a conversion, franchise management software can help.
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It helps in simplifying the onboarding process of franchisees.
In general, the complex and time-consuming process of onboarding calls for the involvement of skilled multitaskers that can establish coordination with more than one department and several individuals. The design of franchise management software is conceived to simplify and expedite the whole onboarding process. How does it accomplish this major task? By handling every onboarding task from a single platform. In this way redundancies if any are eliminated and the organizational visibility of your franchise is amplified through the dissemination of the progress made in all relevant tasks categorized with stages namely pending, work in progress, and complete.
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It helps in centralizing operations management.
Since the entire franchise network is governed by a single franchise management software, the whole, vast mantle of operations can be supported and executed from a standalone all-inclusive dashboard. Franchise management software allows you to carry out an easy search of information both intra-franchise and inter-franchise, ensure all franchisees are complying with franchise policies and guidelines, monitor history logs, keep track of regular contract surveillance tools, keep tabs on the progress made by campaigns aimed at developing the franchise, monitor the onboarding process, get instant access to key reports, and get in touch with anyone listed on the scheduled roster, if required, via a text message or an email.
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It helps in getting rid of redundancies and compatibility errors.
One major obstacle that franchises are confronted by while putting the virtualization of their businesses into practice is ensuring software compatibility is maintained. Even though in recent times we barely come across compatibility problems resulting in system instability and subsequent likely data loss, non-compliant software still can lead to a few costly redundancies. Let’s say, in case your accounting software isn’t compatible with your cohabiting marketing analytical tools, you’ll be compelled to resort to manual data entry jobs.
Best-in-class franchise management software ends the struggle due to compatibility problems. The software is brought into being by infusing the experience and expertise of both former and existing franchise holders. It’s an all-encompassing set-up that therefore eliminates the need to look for different programs and buy and assemble them. Franchise management software can be seamlessly integrated with commonly recognized data points. Furthermore, it enjoys full compatibility with leading bookkeeping software such as QuickBooks to do away with manual data entry jobs and wipe away any compatibility concerns.
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It helps in reaching out to leads easily and effectively.
Franchise management software is designed and developed to allow you effortlessly remain in touch with fresh leads and prospects and effect successful conversions. Franchise management software has seamless integration with any lead consulting/booking portals. The software’s resident tools make it effortless in generating business interest in the minds of leads to collaborate with your franchise brand offering. They come up with visually appealing custom templates capable of boosting the effectiveness of your email marketing campaigns to reach out to comparatively inactive candidates. Once the connection is established franchise management software simplifies lead communication by initiating single-click phone calls or sending text messages. During the start of the conversation, the contact details and correspondence history of the lead are made readily available so that you can resume the dialogue from the point it was previously abandoned in the course of the sales process.
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It helps in building a franchise brand while on the move.
Franchise management software helps you gain access to all software modules that pertain to franchise operations not only from desktop computers but also from all kinds of mobile devices such as smartphones, tablets, etc. while on the go regardless of the location and time, and without having to compromise on personal information security. This information, in particular, is required by franchise business developers to execute the management of new leads in addition to other important tasks such as scouting locations to build franchise outlets, realizing franchise sales, and attending financial meetings.
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It helps in developing and disseminating training programs.
One of the major functions of franchise management software lies in uploading and sharing all franchise-specific training content on and from a single, centralized platform only. It makes sure necessary alerts are instantly sent out to the whole franchise network about the changes. With the implementation of the changes complete, the software allows you to publish news and updates on training contained in a digital library and accessible via the franchise intranet to instill motivation in the minds of franchisees.
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It helps in adding expertise to identify the most suitable growth opportunities.
Any successful operation of a franchise business involves scrutinizing numerous reports and statistics with a fine-tooth comb. These resources are appropriate to the specified market area. The basic aim is to pinpoint the best business growth opportunities and get the most out of them. Franchise management software empowers you to conduct due diligence so that you’re up to date with developments happening in real estate, shifts in demographics, and changes in tariffs and trade agreements in relevance to the industry in which your franchise operates. It lets you analyze scores of key performance metrics KPIs and interpret the results.
Franchise management software helps in streamlining this comprehensive analyzing process without having you undermine the quality or volume of information put under the scanner. This is considered a primary focal point to bring off unhindered franchise operations. In order to fulfill these criteria, franchise management software is designed to send automatically generated sales pipeline reports containing information on KPIs. Apart from regularly generated automated reports, the KPIs can also be monitored in real-time from all kinds of mobile devices. This alludes to the fact that analytical reports and their interpretation can be studied quickly.
The delivery of better and faster information franchise management software empowers franchise business owners to outplay their competitors as the latter tries to sneak into more new as well as existing markets. Specifically, this is important for industries that are currently experiencing speedy growth such as fitness and elderly care where area/territory opportunities are snatched up quickly.
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It helps in managing territories with a larger impact.
Franchise management software is designed to understand the functioning of territory systems in depth. It comprises developed solutions to see to it the awarded territories are managed with ease besides reminding you of their anniversary dates.
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It helps in monitoring key business metrics.
Top-of-the-line franchise management software authorizes the head office to keep a steady watch on cash flow, expenses, revenue, profits, and losses from all types of mobile devices, and that too in real-time. When you’ve got ready access to metrics you can more quickly respond to threats and scoop up the best opportunities prior to the competition hawking in.
Every so often, this action is known as making “visibility” better by virtue of which the prominence of important metrics can be enlarged. Besides, they’re readily available to the big league to view and understand. Improving visibility is looked upon as a precondition to carrying off real, well-informed decision-making.
Franchise management software puts business-centric KPIs on display in real-time by making use of an intuitive reporting dashboard. Irrespective of whether you happen to be a franchisee combing through sales-related minutiae or a hawk-eyed franchisor trying to sneak into new markets, fully scalable, real-time franchise management software leads to efficient and optimized monitoring of business metrics to make the planning of your franchise operations flexible and powerful.
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It helps in overarching automation.
Franchise management software allows professionals to look into plenty of data. However, the good point is, that it doesn’t let you input a lot of data. It helps in the generation of key summary reports containing unified data from various departments so that you can put considerable focus on its interpretation instead of spending time typing it up manually.
