3 Ways Store Intelligence Makes Capex Budgeting More Efficient

October 3, 2017 by Paul Sotrop – Tracking countless projects across hundreds of stores? No wonder your capital budgeting process is such a lengthy, time-consuming process. A store intelligence platform is the better way to allocate capital with confidence:

1. Smarter Planning – A store intelligence platform becomes your single source of truth and communications hub – a centralized repository for all key stakeholders to access. It gets everyone, every vendor, every project and every site on the same page. By providing location-specific data on capacity, space planning and layout, you better predict cash flow because you’ll see more of where your budget goes – the big picture and also a drill-down: store by store, project by project.
   
   
2. Data-Driven Decision Making – Store-level data drives cost-avoidance projects as well. Replace your subjective best-case-scenario guesses and make more decisions based on objectives. For instance, you can defer the cost of replacing equipment by adding a research component into the mix. Ask project managers to quantify the magnitude and probability of the risk of the equipment failure by providing insight into how often the equipment been repaired. You can also track the status of your equipment warranties across your entire estate, which is especially helpful if you’ve acquired stores with different brands of equipment.
   
   You can also lower remodeling costs through greater efficiencies. By knowing exactly what each store needs, your budgeting becomes more exact as well.
   
   
3. Real-Time Analysis – Store intelligence helps you monitor implementation of your projects as they happen. You can also identify opportunities for growth and business development. Store intelligence provides analytics to help you determine which sites to invest in based on market, competitive pressures and age of your stores. You’ll be able to spot trends and better understand your customers’ shopping habits. With a store intelligence platform, you’ll be able to manifest your growth strategy quickly and stay on budget as you grow.

The AccuStore Difference

Our dashboard makes it easy to see today’s numbers or look at the past year. Filter to see what’s happening at any of your store locations. Easily update data or get answers by quickly surveying your field team. Or ask your stores to snap a photo so you can immediately see results. Let’s talk!