How automation can help your business save time and hit your target margins.
You only have about 800 minutes on average to focus on your business each day, spend them wisely.
There are 1,440 minutes in one day. If you remove the time it takes to perform essential human functions, like sleep or eat, the number of usable minutes shrinks. Remove from that the time you need to spend with your family or friends, go grocery shopping, or run errands, the day gets even shorter. So, with all things considered, you only have about 800 minutes each day to focus on your business.
Are you spending them wisely?
The best business operators know the pitfalls of being trapped behind the desk, managing paper invoices, or matching payments to the check numbers on the bank account. The best way to manage your time more efficiently is to automate. Throughout your business, you use automation to save time, from the way you record inventory to the way you communicate your staff schedule – all so your business runs smoothly, and you hit target margins for each category. This same thinking should translate directly into time-savings for your beverage alcohol category too!
Utilizing a digital invoice management system for your alcohol category can bring your program into the 21st century, with online access to invoices and reports that make matching credits and charges easier than ever.
Do you ever think about how much time is lost when a paper invoice goes missing or isn’t sent to the correct department?
Do you know how many credits you may have missed out on?
By automating, you’ll eliminate the need to dig through paper invoice copies or contact your distributor to answer questions regarding costs or credits, and all the information will be available anytime, for anyone who needs it. Digital access empowers you with a comprehensive view of your data, in real-time, so you can access the information you need to quickly pivot with alcohol purchasing decisions that are more profitable and consistent.
Often, companies that offer online invoice management can also import the data directly into your back-office system so you can view all your information in one place. You’re already using your back office to analyze your operational, food, and labor costs – why wouldn’t you include your alcohol data in that equation? Incorporating your alcohol spend into your overall business analysis ensures that you’re using up-to-date information, that’s received quickly, to make profitable business decisions. Plus, because it’s automatically collected from the distributor’s route accounting system, you know the information is accurate and free from any manual-entry errors.
Efficiency isn’t just about cutting corners in your business to do things faster. It’s about enhancing your existing processes so that you can do more with the time you have – without negatively impacting your bottom line. In the end, getting out from behind the desk can do more than just improve your processes; it can give you more time with your customers and employees.
Fintech has been helping retailers across the country improve beverage alcohol procedures for nearly 30 years, offering solutions that solve time-wasting challenges associated with invoice management and reconciliation. The best part? Our beverage alcohol management tools costs less than a half-day of administrative labor for the entire month. How will these savings be spent on your business?
Want to learn more about Fintech or the topics covered in this blog? Contact us today!
