Technology at pace with growing Franchise Business
Today, you may find a majority of franchisors make effective use of information technology (IT) for maximising sales and profitability of their franchise businesses. Normally, many businesses use technology for their regular day-to-day activities. There are various benefits available to increase the use of IT for a communication network between the franchisor and the franchisee. These days many franchisors are equipped with complex intranet systems for their franchisees to facilitate documentation and information access required to operate their businesses, such as management of stock and sales processes.
Another popular source of communication, email, is also gaining momentum in this field. However, many franchisors still prefer verbal or face to face conversation if possible to enhance loyalty and motivation amongst their franchisees. One more technology being widely used in franchise business is the use of Voice Over IP (VOIP), which facilitates the franchisor and the franchisee to converse with the help of special IP based telephones over the Internet, with no call charges applicable on the same. If correctly used, these systems can enable the franchisor to get a bird’s eye view of the entire business performance as well as enhance the communication channel between the two parties.