Do you think your company is too small to benefit from jewellery management software?
While a small business can function without much technology, without needing to comprehend it or make any investments in it, it can waste valuable time every day by getting bogged down in paperwork and chores that larger organizations have already automated. It is therefore unimaginable in this day and age to operate without any technology, especially information technology, commonly known as IT, in order to keep up with other, more effective organizations.
The advantages of implementing jewelry-specific IT technologies in your company
Finding these hidden problems and controlling them—or, even better, coming up with solutions—will give you the best chance to get ahead of other jewellery businesses, or competitors. How do you approach achieving it then?
Let's examine the "obvious" invisible issues in more detail:
1. Issues with productivity and speed:
This is the most evident; even though you might not be aware of how quickly your business operates in comparison to others, you almost certainly have a gut sense anytime your output is slower than it should be. So once more, even though there are many obvious ways to boost productivity, such as using CAD software, 3D printing, faster computers, and so forth, what actually has the biggest impact is tracking and quantifying the steps of the production process, the amount of labor used, and the productivity of individual employees so that the entire process can be understood and managed holistically. You, therefore, require reliable jewellery software.
2. Reducing human error:
It's a common knowledge that people make mistakes. While mistakes might be frustrating, they can also significantly affect a company's profits. There is a good probability that something may go wrong in your complicated production process, delaying the order and possibly infuriating the consumer. A small mistake like a CAD or casting error can result in thousands of dollars in lost revenue and a lot of negative PR if the customer is irate enough (as some are). In such case, they can express their displeasure online with a nasty review. Even though it is impossible to completely remove human error, the majority of them can be managed by automating quality and delivery time controls and developing error correction processes and protocols. No, without integrating a complete jewellery business management software, this won't be achievable.
3. Better, quicker data-driven decisions:
Another fact is that statistics are reliable. You might believe that because you manage a small firm, you have a thorough understanding of everything and consistently make the best choices. While this may occasionally be the case, it is far more likely that you are actually making mistakes but are just unaware of them because you are basing your choices on inaccurate or insufficient facts. You can surely make much better decisions if you have jewellery management software and access to the pertinent data in real-time in an orderly and transparent manner. Accordingly, integrating all of your business data in a way that makes sense for your company and existing procedures might mean the difference between making a wise choice and one that will stick with you for a very long time.
4. Increasing your online sales:
Anyone who sells any form of product is now impacted by online sales. In actuality, you are losing out on significant revenues if you are not selling online. This is particularly true for jewellers, who are seeing a significant amount of their previously in-person sales transfer online. Are increasingly doing business online, followed by industry giants like Walmart and Amazon. Even small, innovative businesses are going online thanks to user-friendly web stores like Shopify and Etsy. Therefore, if you are not yet engaged in internet sales, you are falling behind. Online sales can be difficult, especially if you sell personalized jewellery, but they can also be very profitable if you use the correct jewellery inventory software.
5. Better customer service:
It is crucial for your company that its consumers have the greatest possible impression of it. After all, when buying jewellery, your customers also purchase the experience, not just the item. As a result, interaction with the buyer, whether before or after the transaction, is crucial. Can you, for instance, explain in detail to your customers how their jewellery is made? Can you give them a quick estimate for personalizing a ring? Can you provide them with a certain delivery date for their personalized jewellery? Do you give them up-to-the-minute status updates? I am aware that if I am purchasing a custom ring valued at $50,000, I will demand to know even the name of the jewellery designer or the goldsmith who engraved the ring. Can you inform them of this without their asking? If so, excellent; you are one step closer to attaining the pinnacle of customer service.