Where Do You Rank with Stacy

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Where Do You Rank with Stacy

  1. 1. Where Do You Rank? Presented by: Stacy Hamer
  2. 2. “ I get more from seeing howother customers use iQ so wecan evaluate our usage. Plus itallows us to change by findingmore efficient ways.” - 2011 Summit Attendee
  3. 3. That is how this session works…
  4. 4. Topic #1 What’shappened in the last year?
  5. 5. What’s up with Quick Sales now? 2011 Summit 2012 Summit Difference Quick Sales 397,741 235,215 -41%
  6. 6. What’s up with Quick Sales now? 2011 Summit 2012 Summit Difference Quick Sales 397,741 235,215 -41% Total Sales $14 Million $7 Million -50%
  7. 7. What’s up with Quick Sales now? 2011 Summit 2012 Summit Difference Quick Sales 397,741 235,215 -41% Total Sales $14 Million $7 Million -50% QS on Phones 114,896 63,501 -45%
  8. 8. What’s up with Quick Sales now? 2011 Summit 2012 Summit Difference Quick Sales 397,741 235,215 -41% Total Sales $14 Million $7 Million -50% QS on Phones 114,896 63,501 -45% Sales on $6.2 Million $2.3 Million Phones -62%
  9. 9. What are you writing off now? Count 1-3/ 22% week Count 1-3 $443.18 Count 1+/day 17% times/mth $310.41 8% $687.44 Counts 2x/ Count less Average day than 1/mth $749.5221% /mth $151.31 $810.81
  10. 10. Monitor these reports.. Executive Report & AdjustmentHistory Report
  11. 11. Shout outgoes to…
  12. 12. 40 CountsLocations in inventory South twice a day Carolina & Georgia Writes off only Market $132.50/mo
  13. 13. Topic #2 RMA’s
  14. 14. Why do 39% of iQmetrixcustomers NOT process RMA’sthrough RQ4???
  15. 15. RMA’s should be monitored as closely as cash. Last year, $174 Million of inventory was RMA’d through RQ4 22% of Summit attendees don’t use this moduleAverage of $2,520 for Summit Attendees is currently open RMA per location Of all iQ clients its close to $15,000
  16. 16. Need some real proof?Company #1 has 15-20 locations Company #1 has over $100K in RMA currently open That’s over $5,500 per location That’s 10+ phones PER LOCATION
  17. 17. Need some more real proof?Company #2 has 75-100 locations Company #2 has over $285K in RMA currently open That’s over $3,000 per location
  18. 18. Monitor these $ in RMA History Report.
  19. 19. We are not done talkingabout inventory just yet…
  20. 20. Almost every person here usesnon-sellableYou have an average of $898 perlocation sitting in each store65% of you aren’t counting thatinventory
  21. 21. Monitor these $ in Non-SellableProducts Report
  22. 22. Shout outgoes to…
  23. 23. $38,825 in 166 Locationsopen RMA. NationwideThat’s only$233.88 per location  
  24. 24. Topic #3 Accessory Discounting (my favorite)
  25. 25. Last year, Summit attendeesalone discounted accessories $29,775,328off the suggested selling price
  26. 26. That works out to… Averaging 200 accessories per month Discounting $10,265/location/year Discounting $938.58/location/month
  27. 27. “Stacy…that could vary so much between dealers”
  28. 28. So let’s be more universal… Averaging 200 accessories per month Average $14.18 GP per accessory
  29. 29. Here is how you are doing8 36 46 15$20+ $15-$20 $10-$14 < $9
  30. 30. Hmm Interesting…. 44% of you don’t use manager overrides 1 15 (That’s 100%)
  31. 31. Monitor the Discount Summary report
  32. 32. Another thing on accessories… In 2011, only 17% of you used 72% Inventory Use it Compatibility today!
  33. 33. Shout outgoes to…
  34. 34. $25.50 GP/ 31 AT&TAccessory Locations in NY Market
  35. 35. Topic #4 Cash Refunds
  36. 36. Houston…..we have a cash problemYou’ve given $6,572,484 in cash back to customers
  37. 37. This scenario happens all too often and I betyou don’t realize it… Customer Sales Rep 14 day buys tenders in refund accessory RQ4 policy kicks in No refund by Day 14, no customer customer Hmm I would like return. Cash refund some money to go happens. Cash goes into eat tonight…. pocket.
  38. 38. It’s a hard scenario to catchunless you are looking! Reporting looks normal! Its within your refund policy! Likely falls under cash refund policy! Small qty’s of cash over time add up$20/day x 20 days a month x 1 YR = $4,800
  39. 39. Monitor this…Monitor high QTY of refunds per employee !  Create custom report off of refund summaryMonitor refunds close to refund policy !  Use refund summary which shows original sales date and refund date
  40. 40. Speaking of Refund Summary Report 54% of you won’t be able to accurately monitor why because you don’t use refund codes
  41. 41. Set a cash limit refund in Payment Setup screen
  42. 42. Once upon atime, in iQmetrix land, only 14% of all their clients used And then all blind cashouts. the retail staff(yes that means 86% of you looking at this screen don’t) and finance departments lived happily ever after…..
  43. 43. Topic #5 Emailing Invoices
  44. 44. What’s the mostexpensive liquid you can think of?
  45. 45. Why is ink so expensive? Ink is heated And then we At a rate of to 572 Squirted out need it dry 36k drops degrees at 30 MPH immediately per second Fahrenheit on paper
  46. 46. What does this have to do with RQ4?
  47. 47. RQ4 Invoices Tendered EmailedOnly 1.4% of Invoices are being emailed to customers….
  48. 48. 61 Million = invoices tendered in RQ4 908,000 = invoices emailed in RQ4 1.4% = Avg % of invoices emailed in RQ4 1351 = iQ customers that sent less than 10% 9 = iQ customers that sent more than 25%
  49. 49. About my stores only invoicing 25% of all invoices….that just isn’t good enough. So I just@ disabled ability to print invoices….so I’ll be at 100% by the weekend J
  50. 50. There is money to bemade in all area’s of RQ4. You just need to know where to look…
  51. 51. Increase your Monitor Cash accessory Refunds & use margin & use blind cashouts mgr Overrides Email yourMonitor RMA’s invoices $$$
  52. 52. iQmetrix.com | 1.866.iQmetrix © 2011 iQmetrix. All right reserved. iQmetrix, the iQmetrix logo, RQ4 and other trademarks, service marks, anddesigns referenced in this material are the exclusive property of iQmetrix Software Development Corp. and/or its subsidiaries.

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