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K-VA-T Food Stores has implemented a web-based corporate reporting application for retail operations, loss prevention, audit and treasury departments. It provides immediate access, via alerts, to individual and aggregate bookkeeper and cashier data regarding all tender types.
The vbInSight application by Balance Innovations enables the chain “to view information remotely and manage exceptions without being present in the store. Our loss prevention and audit groups can identify stores with higher over/shorts and target problem stores that might have cash issues or need additional training,” said Kevin Stafford, director of front end operations for K-VA-T, a regional, family-owned supermarket chain that operates 103 stores in Kentucky, Virginia and Tennessee under the Food City and Super Dollar banners.
Because data is stored for up to 24 months, K-VA-T's management teams can identify trending behaviors and analyze key performance indicators to correct negative patterns or reward positive results. The solution also allows K-VA-T to compare divisions and identify the highest and lowest performers.
"We've been able to regulate the amount of money we are holding in our stores because our treasury and banking groups easily monitor cash-on-hand levels and pinpoint stores holding excessive or insufficient amounts," said Stafford.
In addition to vbInSight, K-VA-T has implemented vbEPIX, an end-to-end solution for back office check conversion that provides total reconciliation at the store level.
Rob Bryer, senior VP of product development at Balance Innovations, said, "We understand the current challenges that retail stores face regarding operational efficiencies. Our primary goal with K-VA-T is to provide solutions that equip them with the most accurate data-enabling them to make the decisions that meet their operational objectives."