The franchise management software system has undeniable importance on the success of a franchise brand. It helps germinate and grow the brand in an organized fashion. At the same time, it handles all aspects of franchisor and franchisee engagements and franchise business operations. So irrespective of whether you’re searching for something novel in the market or simply need your existing franchise CRM to be audited and reviewed and gauge how it matches up to the industry standard, the software will prove helpful.
Read on to understand the key features provided by franchise management software that will help you go ahead investing money in its implementation.
Six standard features of franchise management software
All-inclusive franchise management software to do away with compatibility issues and redundancies
One major obstacle that franchises are forced to contend with is software compatibility. This is true, especially when franchises try to envisage their business prospects. Compatibility issues used to result in extensive data loss and system instability in the past. But, those days are long gone.
Still, putting incompatible software in place can give rise to redundancies that could cost you a considerable outlay. For instance, if your accounting software and marketing analytics tools aren’t mutually compatible, you’re left with the only duty of entering data manually.
The Franchise management system can come to the rescue of franchises that are grappling with compatibility problems. The software is equipped to do everything that’s needed to eliminate such issues.
Therefore, as a franchise owner, you need not look for different programs, check their compatibility with your system, and buy them. Franchise management software has a modular architecture that helps integrate common data points smoothly. Furthermore, the software has full compatibility with accounting software such as QuickBooks to ward off time-consuming data entry tasks as well as compatibility issues.
An intuitive franchise management software to monitor key metrics in real-time
In case your monthly reports haven’t still arrived, other than cooling your heels, you’re actually losing out on a few vital growth opportunities.
All-encompassing franchise management software allows you to keep track of your cash flow, expenses, profits, and losses from a centralized location in real-time. This information is right there at your fingertips on your mobile browser. So when you’ve got all the key metrics readily available, you can more quickly respond to crises or dive into potential opportunities before your competition gets in.
Every so often, in the cutthroat business world, this action is called improving “visibility”. In the literal sense, it means increasing the prominence of the most critical metrics and making them accessible to the big shots and allowing them to take a look. When it comes to making crucial decisions based on data, visibility is being viewed as an indispensable prerequisite.
Franchise management software puts the key performance indicators of your business on display in real-time by making use of an intuitive reporting and analytics dashboard. So regardless of whether you’re a franchisor in search of a fresh market to penetrate and make a mark or a franchisee scrutinizing every single sales detail with a fine-tooth comb, the fully scalable franchise management system helps optimize the planning efficiency and flexibility of your franchise through business metric surveillance in real-time.
All-embracing franchise management software to set up a comprehensive enterprise management interface
When Tony Lowings, CEO of KFC, starts reviewing Tesla’s gross profit, does he reach out to all his regional marketers across the country? Had he been doing so, the man would’ve frittered away hundreds and hundreds of person-hours to type emails, arrange conference calls, and sum up gross profits.
Franchise management software brings about highly valuable task automation. It helps by not allowing the time of an expert to be wasted on repetitive tasks. The software simply works faster and eliminates the odds of committing human errors.
Thus, it’s evident, without sophisticated and powerful franchise management software, being in charge of the operations of large franchises isn’t just feasible. With the help of the software, you can seamlessly incorporate data from every outlet, branch, and territory of your franchise into the system.
Comprehensive enterprise management software is one that combines all data pertaining to sales, marketing, and franchise development to depict any master business plan. While doing so, the software automates many tasks that sort data and furnish it in a presentable manner so that regional managers can keep their focus intact and expedite long-term strategic planning.
Efficient franchise management software to handle the supply chain and inventory
The software can enable the franchisor and franchisees to gain access to data concerning inventory and help them predict inventory levels. In doing so, the franchise can decide on stock replenishment by issuing purchase orders.
The software supports the franchise business in keeping a watch on the supply chain mechanism, starting from placing orders to filling up the stock. Furthermore, the software enables the franchise to anticipate and mitigate risks or issues that have the propensity to arise in the course of the process.
Comprehensive franchise management software to deal with customers
For franchise businesses, the aspects of keeping the customers loyal to your brand and retaining them are pivotal. Both aspects depend on the standard of customer service you provide at the franchisee outlets.
Robust franchise management software lends a hand in facilitating effective customer relationship management by offering capabilities, for example, customer registration, customer information look-up, customer loyalty programs, customer feedback submission and response, and inventory look-up, and more. All these capabilities let you reach out to your prospects and customers and retain them on a long term basis.
Systematic franchise management software for process management
Powerful franchise management software comes to the aid of franchisors in inspecting whether all their franchise outlets are adhering to mandatory checklists and industry audit standards. It’s endowed with the capability of preserving historical information relevant to the franchise outlets.
This information can be put to use as a yardstick to track and examine performance. What’s more, the software has the ability to track sales data, employee performance, inventory figures, etc. this allows franchise owners to pick out any discrepancies and keep processes and operations under tight surveillance.
Other features of a franchise management software
Franchise management software has many more valuable features, as listed below.
The software is capable of providing a secure intranet to ensure a safe means of communication of essential documents among franchise members – between franchisor and franchisees.
The franchise management system can create powerful marketing campaigns that are necessary for generating leads and boosting sales. In addition, it allows making personalized campaigns backed by customer information through a built-in email marketing feature.
The software is able to provide client support to franchisees through an inclusive knowledge base, self-help documentation, and online forums. In addition, it allows franchise reps to get in touch with customers via phone, chat, or email.
By incorporating your accounting software like QuickBooks into franchise management software, you can handle paying royalties and commissions of franchisees.
The software aids you in controlling your franchise brand operations. The software also helps franchisees carry out their work locally and efficiently. In addition, the software proffers an interactive dashboard that enables you to view and adjust the prices of products and services, manage inventory, income, expenditure, and more.
Modern franchise management software is mobile responsive. It empowers franchisees to avail themselves of the software functionalities while they’re on the go through their smartphones or tablets. It allows them to furnish real-time data concerning customers, daily sales figures. It facilitates smooth and secure electronic payments. It also helps receive valuable customer feedback.