STORES Magazine - September 2008 - (Page L18)

INDUSTRY PERSPECTIVE Multiple Uses for Integrated Auditing Software BY MICHELLE MICHAEL hen laptop computers became pervasive and inexpensive in the 1990s, many retailers acquired them for their corporate employees, even at the lower levels. Many operations and loss prevention departments created spreadsheets to help manage the increasingly complex process of auditing operational segments within the organization. W Today, with the increased regulatory and internal scrutiny, many companies are finding that yesterday’s solutions are cumbersome and do not supply the visibility today’s executives are demanding. Michelle Michael is director of sales and marketing for Worth, Ill.-based LP Software. With integrated auditing software, visibility into compliance bottlenecks can be improved at all levels. For example, POS compliance is often a key target in any general audit. Discount and returns irregularities can be audited, tracked and analyzed to help instruct employees and managers in the proper procedures, directly impacting the bottom line. Sarbanes-Oxley issues can be flagged and rectified in an expedient manner, helping reduce exposure to SOX penalties. Moreover, auditors find a well-run computerized auditing system can increase productivity and sales and reduce overall shrink. The number of monthly audits one auditor can complete will often increase 10 to 50 percent, and the quality of the information is increased due to consistent data. With highly accurate data, analysis and reporting can result in a better understanding of risk across the enterprise. KPI tracking Advanced features, such as tracking key performance indicators (KPI) with the audit, can further enhance detailed accounting of a store’s historical performance. Tracking a manager’s performance as she moves from store to store and auditing new employees on procedures can also be beneficial. A complete auditing system will help the store manager to follow up with an action plan with the appropriate standards. Further, the system will allow the auditor and corporate management to track the store manager’s progress, keeping her accountable for resolving issues in a timely manner. Although the world is becoming increasingly wireless, the ability to connect to a corporate database can be a challenge for many retailers. Even if a store has a hard connection to the corporate network, the bandwidth may be low and is often dedicated to serving the POS system. The ability to work “offline” is frequently a critical feature for auditing software. Using the offline mode in LP Software’s LPMS-Audit product, an auditor will be able to perform an audit without any connection to the corporate intranet; the auditor can summarize the audit while at an airport or hotel without a connection. This offline fea- ture helps increase auditor productivity, avoid duplicate work and improve the auditing experience. Corporate visibility In addition, retailers are using their auditing solution for more than just store audits. As long as the auditing solution can accommodate different types of audits, retailers can use the same software for virtually any type of operational audit. For example, they can use an auditing solution to audit distribution centers, warehouses and trucks in their fleet (for maintenance and safety compliance). They even can utilize the system to perform safety and security audits at non-store locations. The end result of using a centralized auditing program is having visibility into the organization’s overall compliance. This visibility will allow your organization to quickly identify trends, spot repeated problems quickly and provide better communication to your managers. Having this knowledge, corporate management can take immediate action by providing additional training and collaboration on these important issues. WWW.LPINFORMATION.COM L18 STORES / SEPTEMBER 2008 http://WWW.LPINFORMATION.COM

Table of Contents Feed for the Digital Edition of STORES Magazine - September 2008

STORES Magazine - September 2008 Contents Executive Editor's Page President's Page Office Depot Unveils First Green Store Dunkin’ Donuts Debuts DDSMART What Shoppers Think 10 Things You May Have Missed Numbers Worth Counting Full Price/Markdown Retail People Are You a Facebook Fan? RFID Concept2Watch E-commerce Supply Chain Marketing ERP Credit Web Optimization LP Vantage Point Newsbeat Cover Story LP Program Building Biometrics Industry Perspective Customer Service Site Selection E-Commerce LOEB Retail Letter Arts Update Point of View NRF News Retail Crossword Retail Industry Calendar Last Laugh

STORES Magazine - September 2008

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