Member Article

Maintaining a profitable international network can be simple

International expansion is a complex task for many retailers and one of the biggest issues facing multi-territory companies is aligning activity in each market, which each has its own nuances, in order to make better decisions across the business. Here Kevin Mundy from business intelligence specialist, Intasight, explores how can retailers drive international expansion and ensure regions aren’t working in silos.

For most retail organisations the first stumbling point is often down to a lack of centralised data and reporting systems. While it is important that regions continue to implement the data in their area, it can become extremely confusing if each region is using its own methodology and presentation of results. And, as a result, it becomes impossible for head office to gain true visibility across the business’ whole end-to-end operations, nor can they benchmark results between countries.

While each market will have its own reporting requirements, using too many customised systems presents a stumbling block when it comes to analysing business performance at a global level. To overcome this retailers should consider standardising reporting processes and templates – albeit with an element of customisation that allows each region or market to still tailor insights to their individual country’s requirements. This is turn will enable a level playing field between territories and unified benchmarking.

By standardising international reporting systems and performance metrics, retailers can use intelligence to generate business-enhancing information. With every region using the same metrics, retailers have the power to delve even deeper into company data, and to analyse performance across markets.

Visibility across multiple geographies is the key to success when it comes to reviewing international performance. By having a ‘single view of the truth’ allows for an enhanced interrogation capability which in turn enables organisations to make more effective business decisions.

Based on comprehensive data insights, retailers can then help streamline business models to drive profitability internationally.

This was posted in Bdaily's Members' News section by Chelsea Reay .