Intelligent reports that can save you a bundle
You’ve likely heard the saying, “You can’t manage what you can’t see.”
Thankfully, today we have Key Performance Indicator (KPI) reporting that enables you to not only “see” but also “capture” information about your packaging artwork as it travels along the production highway. Not too long ago, you had no way to know how your dollars for packaging art were being used. Today, technology from several different business reporting systems allows digital tracking of this critical information.
To get started, make sure your agency has a robust database for sharing information. Next, consider what you want to measure and what key information you must gather for building data. As a starting point, you may want to consider metrics such as deliverables, budgets, timing and volume.
What’s best to track? In our experience, the following three reports are key when trying to understand if goals for timing and budgets are being met.
- “Stop the Nibbling” report — details who or what is eating away at your budget and timing. It provides visibility based on category, brand, project, SKU, color development, artwork, separations, print tools, etc. For example, what department or brand group is making revisions, and during which stage of the project? Also, what types of changes are being made, and where are the revisions coming from?
- “Graveyard” report — shows where money has been spent and where projects stall or die. For example, artwork may have been created as part of a tandem group with multiple pieces in different languages, but when one region doesn’t move forward that piece of art is left sitting, and it ends up in the “graveyard”. This report increases visibility to all active and inactive projects allowing for better prioritizing, tracking and overall budget control.
- “Budget / Spend” report — reconciles what was spent on a monthly basis vs. estimate. Adds visibility and transparency, in near-real time. Spend is drawn from the estimate and is reported by brand, date and identifying type of spend. Another potential area is spending by group (sector).
With your agency keeping these customized reports current, you have the ability to review them regularly — providing the opportunity to start, stop or readjust your plans before it’s too late.
Clearly, digital KPIs are strongly influencing current behavior, but an added win is in the intelligence that is accumulated over time. This rich history is used to compare and contrast data, pinpointing a variety of important trends. Trend reports, containing a wide range of relevant information, provide planning tools to reduce overall costs and cycle times that lead to increased capacity and reduced errors.
We all know today’s technologies can feel overwhelming, but it’s certainly worth the research to find one overall solution. Embracing digital KPI reporting can truly provide benefits in every area of your business, and will help you stay ahead of your competition. Phototype specializes in this type of reporting for the consumer packaged goods (CPG) industry.
Phototype is a 4th-generation, family-owned company that provides fully integrated graphic solutions to the consumer packaged goods (CPG), medical/pharma, retail, printing and converting industries. To learn more, contact us.