What's New with Torqata: June 2021 Product Release

June 25, 2021

 

 

Our Q2 product release was focused on simplification, speed, and bringing new business to your stores. These updates include increased speed for our data ingestion and processing platform, enhancements to inventory recommendation tools, and new partner pilots around driving new business to your stores.

Let's look at the details of these recent enhancements and pilots. Also, get a sneak peak into the new solutions on the horizon for Torqata!


Quicker Access to the Torqata tools      

We know that once you sign up for the Torqata Analytics Portal that you're excited to get started with the tools. Now, with updates to our platform, we'll save you time as you go through our process! 

You'll experience a shorter wait time between the time that you complete your setup actions and receive access. This means that you'll be able to drive business value sooner as you use Category Compass, Profit Expert, and Market Price Explorer.

 

Improved stocking strategy recommendations

With Category Compass, you will have insights into the types of tires that are moving in the areas that your shop serve. 

Important updates were made to how our recommendations are calculated in Category Compass.

  • A methodology to exclude discontinued tires from our recommendations has been implemented, as well as tires with negligible sales across our network in the past 12 months.
  • The timeframe for creating a recommendation has been changed to be based on your past 3-month sales and next 3 months year-over-year sales, rather than past 12-month sales, making sure we prioritize your most recent sales and expected seasonal tire sales in the next few months.
  • On-hand inventory has improved. We're now able to better extract brand names from your product descriptions, leading to more accurate recommendations

    Driving new business to your shop  

    You know that some roadside assistance instances occur near your shop. What if these customers were directed to your shop based on tire availability, at no additional cost to you? Enter our smart mobility roadside assistance solution... 

    We're providing inventory visibility for customers in need of tire related roadside assistance to direct them to available replacement tires near their incident. While in your shop, these customers can purchase other retail products and services and increase their overall satisfaction.

    This solution is currently in pilot with select customers. 

    Self-serve marketing campaign builder     

    There's a great way to tailor your marketing campaigns to your business and connect spend to sales with Demand Navigator. Even better, it's in an easy to use, self-serve portal.

    Whether your stores are in a busy urban metropolis or serving a large rural area, Demand Navigator can help increase store traffic while delivering valuable insights into performance.

    This solution is currently in pilot with select customers.​​​​​

    What's Ahead

    Having at-a-glance views of key performance indicators is important to you. With our new KPI Dashboard, you'll be able to track key sales metrics and set targets relevant to your tire business.

    A great time-saving solution will be headed your way soon with Torqata's Auto Replenishment. You'll be able to have tires automatically reordered based on your sales history and inventory settings, and free you from the time-consuming administrative work of manual re-ordering.

    Share Your Feedback

    Your feedback has helped bring many of these new features to life. We're always glad to hear from you, so contact us and let us know what you think of the new features.

    Contact Us