How well are you doing compared to your competitors?
Many business owners such as yourself itch to have that question answered. To do so, however, you will need to have access to sales and other relevant data of thousands of businesses. Fortunately we at Twin Peaks can study customer data maintained on our servers to create ranking metrics. When looking at such data statistically, much like Facebook and Google, we can calculate averages and find trends. With that kind of mathematical framework we could rank your business in relation to others. Unlike Facebook and Google, however, we do not sell that information to anyone. We give it back to you for your benefit.
Accordingly, we plan on creating 20 or so valuation metrics, or measuring sticks. These ratios, absolute numbers, and time intervals will help you know where you stand and what you can do to improve. As a start, we implemented one: The ratio of Receivables to the average monthly sales in the last 90 days. You can see your results by clicking on RANKING METRICS (the last item) on the main menu of POMeSYS-Host.
Here are a few more metrics we have in mind:
- How long does it take for your operator to enter an order?
- Average $ value per invoice
- Rate of growth of your customer list
- Your customer retention rate
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