Keeping margins is hard - learn how you can scan invoices to keep track of everchanging supplier prices!
One of the most challenging parts of running a business is the never ending race to keep margins on your products. However in today's world and poor economy
staying on top of all of the supplier price changes is extraordinarily challenging.
In fact we performed a case study of an independent grocery store in California, and 20% of their items changed price per week. For context this store stocked significantly more than 10,000 products at any given time - this means that in any given week they were likely losing money for more than 2000 products. That's why tracking supplier price changes is essential for businesses that want to remain profitable and competitive.
Until recently, the best way to handle this problem was to pore over invoices that suppliers provide and manually compare them to the data stored in your Point of Sale. This process takes hours and guarantees you will miss products and therefore lose money.
Supplyve addresses this challenge and makes tracking supplier price changes as easy as to just photograph, upload or scan invoices. After scanning an invoice you will receive price change notifications - alerting you which products have been changed and by how much.
By scanning invoices to track supplier price changes you can make informed decisions about your pricing strategies and stop losing money. The process is extraordinarily simple and after scanning invoices you can either use Supplyve to set margins for your products or export a handy Excel document to upload into whatever Point of Sale you are using.
Today's environment is one in which a lack of vigilance about margins means you will be left behind and that's why we've developed a software solution that makes it extraordinarily easy to scan invoices and track price changes.
As an added bonus with Supplyve invoice scanning you can track inventory totals 23x faster.
If you are interested in growing your business and handling margins with no sweat then please sign up here for a demo.