May 2016 User Group Meeting: Precise Profitability
A sure sign of a great meeting is feeling energized afterwards. The net positive energy might even take a few days to dissipate. Our User Group meeting had that effect for me.
Most Clients and a diverse group from Tibersoft met at the Union League Club in Chicago this past May 17th and 18th.
The theme of this meeting was Precise Profitability. This means that foodservice P&L owners know if they are making money…but where they’re making money isn’t so clear. Predicting where profits will be made is even more difficult. So what prevents a more ‘precise’ understanding? Better data!
We’re striving to have all Clients get their sales and trade spend data in one place so that profitability can be expressed at the most granular level – the profit on a single case delivered to an operator location. You wouldn’t use that information that way but you would want to systemically generate on-demand profitability at any time, aggregated to any level: item, location, operator, region, channel, etc.
Next, how did profit compare to expectations? Making money is good but accurately predicting profit is better. Selling in the foodservice channel involves making many customer-specific investments. We talk a lot about trade investment but more holistically there are several other kinds of investments that impact cost to serve and profitability.
Precise profitability is driving your customer-specific investments by mining all data streams relevant to your business that are presented from one system. Where our concept of a Clear View is about sourcing and organizing the data, Precise Profitability is about using the data to make money.
Jay Crown from Rich Products summed it up best when he said: Precise Profitability is “The evolution from who we spend with and how much to on what, why, and what did we get (ROI).”
Here are couple highlights from the meeting:
• Tyson showed their integration of Tibersoft into claims processing and steady audit results month after month.
• Kellogg’s presented their rollout of Tibersoft which is probably the best example of a one-stop-shop clear view of the entire business so far.
• We showed our new pre-calculated Audit Tab that will replace the older Audit reports, making the identification of all the location eligibility dollars inescapable.
• We showed our mobile version of Tibersoft enabling the field to see business and review Scenarios graphically on their phones or tablets.
Thanks again for all those that made our User Group meeting last week the best ever. The Client presentations, the thoughtful discussion, and actionable feedback continue to make a stronger product and a stronger community.
CEO of Tibersoft