Touted by its users as the future of franchisee management and intelligence, OpenMeasures is one of the first realtime online business intelligence tools geared towards the franchise industry. With its powerful analysis, franchisors using OpenMeasures are enjoying dramatic improvements in their business. [Author's name] explains what OpenMeasures could mean for your business' results.
There are some franchisors that begin each working week with a review of the financial and non financial performance of their franchisees from a number of angles, both comparatively across the group, and on an individual basis.
Their ability to do this is down to their use of realtime online business intelligence tools, such as OpenMeasures (OM), touted by its users as the future of franchisee management and intelligence. Such tools enable franchisors to quickly and easily identify high and poor performers each day, week or year and to respond fast.
For instance, with OM franchisees are starting to identify their own problems, prioritise solutions, and monitor and manage the implementation of their solutions. Detailed results, multiple dimensional scorecards and scatter charts can be customised to reveal how a store is performing against its peers in the same city, suburb, by number of staff, type of menu, age or against targets. The combinations are limitless.
Bringing your business intelligence into one place OM is one of the first movers in its space. It is part of a suite of online business intelligence tools that brings together POS solutions, accounting packages, inventory management systems and staff management systems into one place. Being online, it can be accessed from anywhere with an internet connection so it has no impact on IT infrastructure.
Easy to implement Implementation has been designed so it is easy to customise to a franchisor's strategy and to integrate with their current systems. Just as importantly, it is provided at the level of the franchisor's and franchisee's knowledge and capabilities.
OM is currently being implemented and used by franchisors and businesses in Australia and overseas that range in size from 25 retail stores to over 250 restaurants. It typically requires an investment by franchisees of an extra coffee or pizza sold every couple of days to break-even.
Dramatic results The results are dramatic. Franchisors and franchisees are experiencing major improvements in operations, communication and collaboration, and financial returns. And it means, among other things, that Business Development Managers can identify where to spend their time for maximum return.
OM was adapted from OpenAnalytics, a system developed by WHK for the Singaporean regulatory authority which is capable of providing the analysis described above for 1000s of public and private companies.
Contact us now To find out more about the significant benefits of OM, contact a member of WHK today.
Chris Brown
Senior Manager, Business Advisory
chris.brown@crowehorwath.com.au