Brightpearl, the multi-channel cloud ERP platform, today announced Brightpearl Insights, a powerful retail analytics solution for fast growing independent retailers.
To deliver this new solution, Brightpearl has deepened its technology partnership with business intelligence software specialists minubo, enabling merchants to gain unprecedented insight into their business performance.
Instead of spending time defining KPIs and building reports, Brightpearl merchants are now able to generate instant results, with a rich palette of pre-prepared metrics, reports and dashboards designed by blue chip retail experts.
The new solution brings to SME retailers the type of insight usually reserved for global retail brands – enabling them to make smart, data-driven decisions and gain market share from competitors.
“It’s about insight,” said Henry Morland, Chief Product Officer at Brightpearl. “The reports and dashboards within Brightpearl Insights encapsulate many years of merchandising, marketing and general trading expertise across a range of sectors, captured by both Brightpearl and minubo.”
“These tools are designed to inform good decision making in order to increase the advantage that Brightpearl’s community of independent merchants already enjoy over their competition.”
Lennard Stoever, CEO at minubo, explains, “In the past, this kind of analysis would require its own IT infrastructure and this would come at significant cost, making it simply unfeasible for SME retailers.”
“minubo has disrupted this model and, as both Brightpearl and minubo exist entirely in the cloud, Brightpearl Insights is immediately available through a web browser, no matter where you are. You can drill into your data at the beach, if you want.”
Morland adds, “Feedback from early adopters is very positive; the power of Brightpearl Insights is already helping make better decisions. We look forward to seeing it drive growth for our merchants over the long term.”
Key features include:
– Intuitive self-service dashboards delivering time-based reporting across customers, vendors, products and sales (e.g. average order value, sell through percentages, return rates, margins)
– Pre-defined reports for detailed aggregation of customer sales and products, instant insight across key business drivers (e.g. revenue and profit by customer, by product, segmented over time or by specific marketing campaigns)
– Access to a suite of pre-built industry analytic reports, giving insight on customer acquisition (new vs existing customers), customer life-cycle and eCommerce marketing spend.
Among the first retailers to use the new product is premium bicycle spare parts supplier, Velobrands. After growing his business from a hobby to a $5m annual revenue business, founder Will Miles identified better customer engagement as the key to continued expansion. But to generate relevant offers required deep analysis of existing data held within his business.
“We wanted to analyse individual brand penetration for each retail customer, to use sales forecasts to ensure more accurate ordering and to generally improve the efficiency of our inventory management,” said Will Miles. “But in common with many retailers, we didn’t have the money or capability to build the necessary IT systems.”
“After using Brightpearl Insights across all marketing channels, my team can now instantly analyse operational and sales data across clients, driving additional sales revenue and saving us hours of time every week.”
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