One of the most useful functions of apparel management software is the huge variety of reports and analytical data it can provide, but all the options can be overwhelming. Data is everything, but while some reports are helpful, there are a few reports that are indispensable to your business. To get the most out of your system, make sure you can generate and understand these four crucial reports.

Financial reports

1.) Management Information System (MIS) Reports. MIS reports let you look at the productivity and efficiency all aspects of your business, from individual employees to entire departments. Due to the granular data that modern apparel management software provides, MIS reports allow you to identify the exact origin of a problem or bottleneck in your production and transportation. They allow you to look at each individual employee and fix your issue, even if it’s just one guy who takes a few too many long lunches.

2.) Real-time Reports. Real-time reporting allows you to look at the immediate effects of your management decisions. Rather than having to wait until the next quarter and hoping you can puzzle out how your new shipping containers affect loading time, you can watch your plans play out in real time. These reports allow you to segment your warehouse and run experiments by creating a “warehouse within a warehouse,” and finding out which practices are most effective in days (instead of months.)

3.) Key Performance Indicator (KPI) Reports. Key performance indicator reports let you check the vital signs of your business. Whether it’s sales orders, quotes, supply chain information or human resources data, if it’s crucial to your business’s success it should be the subject of a KPI report. Take some time to determine which factors are most important to your business before you set up your apparel management software — unless you know what you’re looking for, it’s easy to set up too many KPI reports and drown yourself in data.

4.) Financial Reports and Forms. Apparel management software centralizes and simplifies all of your financial reporting, and streamlines your paperwork by allowing you to easily create and produce commonly used forms like price quotes, contracts and HR documents. When set up properly, your system should be able to track every aspect of your operation’s finances, from payment for raw materials and payroll checks to sales in stores.

To get the most out of your financial reports, you need to properly implement a transaction processing system (TPS) that keeps track of each transaction you make. These systems are comprehensive and can be difficult to set up, so make sure to spend the time to get it right, but well worth the time. It’s hard to put a price on never losing track of your money again.

If you’re scratching your head over your current apparel management software’s reports, or are thinking of implementing a new system but don’t know where to start, Apparel Business Systems can help! Our enterprise resource planning software is purpose-built for companies that make apparel and fashion and designed for comprehensive reporting. Contact us today to start getting more out of your software.