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Knowledge is Power…

October 6, 2010

Working in the technology industry, I am frequently impressed with the knowledge and experience of my colleagues.  With decades of experience, and a commitment to excellence, my peers and I are dedicated to producing real results for our clients.  However, despite our collective commitment and proven skill-set, there is a constant need for updated information.  Without real-time feedback from clients and our counterparts, the best of ideas venture off course.  Simply put, to succeed in a dynamic business environment, we need all of the information we can get.  Fortunately, we understand that we are not alone in our need to collect accurate information.

As a former franchise owner, I am confident that the need for solid business intelligence exists within any organization, large or small.  Whether you are a technology firm with clients in 55 countries, or a convenience store owner in Sterling Heights, Michigan, actionable feedback is critical.  For small retailers, inventory control, point-of-sale (POS) data, employee trends, and cash position are important elements of managing a profitable business.  Without visibility to employee behaviors, seasonal trends, and financial information, retailers can quickly find their businesses running their lives instead of the other way around.

Thankfully, there is hope.  With advances in POS systems, RFID technology, and intelligent safe solutions, business owners are able to capture more data in less time.  Rather than reacting to changing business climates, retailers are able to proactively forecast changes, making the right decisions before it’s too late.  The old cliché certainly holds: knowledge is power.  The question for retailers today is clear; what knowledge are your business solutions providing and how much power are you wielding today?

http://www.americanbanker.com/btn_issues/23_5/cash-management-retailers-safes-get-networked-1018352-1.html

~Jeff Hauser

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