CMJ partners with Bransom to boost business for retail jewellers
The Company of Master Jewellers (CMJ) is investing in new technology that will give its members a real business advantage in 2010. Bransom Retail Systems has been selected to develop a sophisticated bespoke system that will give CMJ members a VIP service to help build their businesses. Under the new agreement, Bransom will implement an integrated Membership, Stock Management and Accounting system that will improve efficiency, give members an advantage in the jewellery marketplace by identifying key market trends and reduce costs. The system is planned for release in April 2010.
Chris Garland Managing Director of Bransom Retail Systems Ltd says: "This is a project that will enable the CMJ to fulfil its ambition to reduce the group running costs substantially and streamline the organisation, while at the same time giving its members significant trading advantages over their competitors. The CMJ is a major buying force in the industry and Bransom is honoured to be associated with such a forward-thinking and dynamic group."
Willie Hamilton, CEO of the Company of Master Jewellers says: "Our group has grown not only in size and stature over the past 2 years but also in credibility as a vibrant, professional group that is meeting the needs of independents across the UK, from the discerning to the contemporary jeweller. With over 120 members, the CMJ processes 1,000’s of invoices and the group’s expansion plans means that an improved management accounts system is vital to meet that growth. Meaningful data has never been captured to allow interrogation of independent retail jewellery sales by anyone in the UK and we will be the first group to produce genuine trend reports and forecasting for our members and our approved suppliers. Every business must keep up to pace in their marketplace and this investment in data analysis will ensure the growth of our group and as more independents continue to join us, we will continue to be the pace setter. We have an open invitation to retailers throughout the UK to work with us as the more that join our collective the more robust and meaningful the data will become.
A VIP service: Data analysis will improve profits Bransom is working with the CMJ to help the group and members improve their stock turnover and profits. The new system will greatly enhance the group’s ability to collect and share market and product trends and analyse information.
The group will be able to offer their members key business information:
Identify the best achieving supplier in terms of profit and stock turnover Identify the best selling lines Identify trends by product group and price band Identify trends by category, group and department
Analysing trends and identifying best sellers across the group will enable members to invest with more confidence.
A VIP service: faster delivery, lower costs The new system will give CMJ members access to more information and a faster delivery of services.
CMJ retailers who are currently using the Bransom POS system will be able to integrate seamlessly with the new system. This will prevent duplication of data entry and help reduce retailers’ running costs.
Integrating the ordering system with suppliers that provide fast moving products, such as Pandora, will help both suppliers and the CMJ’s head office to work more efficiently.
A VIP service: Less waste, more information The system will enable the CMJ to reduce paper waste as information will be stored electronically. It will also simplify data entry and integration of all business processes including member and supplier ordering. The system will cope with multi-currency invoices and produce monthly accounts for the CMJ as well as business and management information.
Willie Hamilton and Chris Garland confirm their commitment to work closely together for the benefit of the buying group and its members.