LightSpeed debuts advanced cloud reporting for retailers

Big Data for Small Retail

Most point of sale systems for small and mid-sized retailers offer rudimentary reporting, such as sales totals or number of transactions. LightSpeed's new Advanced Reporting for Cloud includes more than 40 reports that give detailed information on product sales, profits and margins; customer preferences; employee performance; payment methods; and vendor-by-vendor analytics; across all stores and channels. A highly visual, real-time "Dashboard," accessible via a web browser or through a mobile app, gives a quick look at performance across all stores, and the new "Stats" panel shows best and worst performers across locations. 

LightSpeed, the commerce platform for serious retailers, launched Advanced Reporting for LightSpeed Cloud, as well as increased momentum for its #

 

In addition to giving a complete, real-time perspective of your business, LightSpeed's new advanced reporting allow retailers to predict sales, inventory needs, and revenue based on historical trends and external factors like weather and holidays. It also captures customer preferences across online and offline channels, indicating purchase history, favorite items, and other customer insights that fuel successful loyalty programs.

 

"Customer engagement, forecasting and inventory management technologies are only as good as the data that fuels them. This, coupled with more traditional retailers expanding online and bringing retail technologies into their stores, has made demand for cloud-based POS tools and data analytics soar," said Dax Dasilva, CEO of LightSpeed.

 

"As a result, we've seen a 150 percent increase in our cloud customer base in the past twelve months. With Advanced Reporting, we're delivering to retailers the kind of data analysis normally associated with large-scale ERP or business intelligence solutions, but in an easy-to-use format and at a cloud price."

 

Examples of the insights retailers can glean from LightSpeed's new Advanced Reporting include:

-A holistic view of your customers: how they engage with your brand online, in-store, and through email

-Which vendors, products, and stores are the most profitable

-Who your most loyal fans are, and how you can reward them

-How to better prepare for seasonal holidays or weather shifts

-The strengths and weaknesses of your sales team so you can reward star performers and augment training resources

 

About LightSpeed

LightSpeed provides serious retailers the simplest way to build, manage and grow their business and create a better shopping experience. More than 19,000 stores processing over $7.3 billion in transactions annually use LightSpeed's retail commerce platform to unify inventory, customer preferences, sales and analytics, in-store and online. Founded in 2005 with offices in Montreal, New York City, Olympia, WA, Ottawa, Santa Cruz and Sydney, LightSpeed is backed by Accel Partners and iNovia Capital.