3 Types of Franchise Technology to Benefit Your Business

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OCTOBER, 2017

If you’re attending the FranTech Conference this month, you’re probably considering incorporating some kind of franchise technology.

You also probably have an idea of what kind of technology you’re looking for, but there may be some options out there or things to consider that you hadn’t realized. Here’s a breakdown of some of the core technologies to consider, and why they’re important to consider.

1. Marketing software

Getting your name and your message out into the digital world is essential in our technological landscape, and it’s next to impossible to do it all on your own. Keeping track of every social mention or sending emails to every customer just isn’t realistic. Digital marketing is about taking customer satisfaction to the next level, and protecting your brand at the same time. Software helps you do that.

Social media is not about the exploitation of technology but service to community
Simon Mainwaring

Email

Contrary to what so many people are saying, email marketing is not dead. In a franchise system especially, different customers will want to receive different emails, and you can’t rely on every franchisee to be tech-savvy enough to handle that without help. Look into your options for email software, so you can be confident the right customer gets the right email, every time.

Social

Social media currently rules the way so many consumers do business. If someone declares your company as horrible online, other people are going to hear, and they’re going to believe that person just because, as far as they know, he or she has nothing to gain. It’s important to implement the right monitoring tools so incidents like that can be rectified quickly and quietly.

Mobile franchise technology allows you and your team to work from anywhere with an internet connection
Keeping track of royalties with franchise technology allows you to maintain transparency across your network
email marketing is simplified with the right platform for your business
Customer engagement software helps make sure your customers get the best experience, every time

2. Financial Software

Money is a touchy subject. We should be able to talk about money in a business without having to worry about the ramifications, but that just isn’t always the case, especially in a franchise system, because franchisor, franchisees and customers have something to lose if anything goes wrong. Proper financial franchise technology can clear the air and give both parties a documented, accurate system to reference that’s more reliable than traditional paper systems.

Accounting

Making sure all the books are up to date and all your financial information is recorded and accessible is crucial to every business. You want to be able to easily access information when you need it, and not have to search through a stack of papers. Which, frankly, could be riddled with mistakes. Your accountant is probably fantastic, but they’re also only human. Give them the tools to reduce and even eliminate mistakes.

Payment Processing

Every business needs a way for customers to pay. For service businesses, sometimes a POS machine isn’t practical, because a lot of the time you go to your customer. Your team shouldn’t have to lug around a heavy payment processor. So look into more modern solutions (our favourite is PayStand) to help make paying for work easy.

Franchise technology can help bring teams together and allow managers to better track and monitor employee activity

3. Operations software

Your company operates with or without franchise technology, but at the end of the day, the amount of time you spend double and triple checking the accuracy of your pen and paper system can affect your productivity. With franchise technology, you’re able to maximize your time and resources to streamline your operations and help your business grow.

CRM

For retail businesses, this isn’t such a big deal, because customers tend to be anonymous and purchases are transactional. But for service businesses, a proper customer management system can be life or death. You want your customers to have the best experience possible so they’ll come back again and again. If a customer buys from you once, they have a 25% chance of buying again, and that increases with every purchase. Isn’t that someone you want to pay special attention to?

Jobs & Orders

You need to keep track of how many orders and jobs you’re taking on to make sure you never double book. And you probably have a way of doing that that works fine. But if you leverage franchise technology, you can also maximize your time and your team without worrying about double booking.

Employees

Managing your team is important because they’re your biggest asset. You want to get the most out of their hard work, and always hire the best. Using software to help you keep track of who is where and for how long helps you make sure they’re always doing their best work.

Of course, there are so many more options and niche solutions to consider, because there are so many facets of your business to consider. So while you continue your hunt for the ideal franchise technology, consider what your business needs are, what problems you want to solve, what problems you need to solve, and which software might solve the most.

For all media inquiries, please contact

Chris Neil
The Better Software Company
1 (­844) ­515-­1992
cneil@thebettersoftwarecompany.com

About The Better Software Company

The Better Software Company offers a fully-integrated Franchise Operating System (FOS) to help owners improve and simplify their entire business, using a cloud­-based model. Integrated features, including CRM, scheduling, billing & invoicing, reporting & analytics and inventory management, offer business owners simplicity and ease of use that will save time. The software is configured to service small and medium sized enterprises in a diversity of vertical markets. The Better Software Company is based in Ottawa, Canada.

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