Inventory management goes much further than merely keeping on track of products. For example, there are powerful types of inventory management software for small businesses that give greater control of everything from tracking sales to identifying slow-moving items to managing vendor information.
When you are looking for the best small business inventory software, it is important to consider your company’s needs. It is also just as important to look out for inventory tracking trends taking place in the industry. There are a variety of inventory management systems on the market, so finding one that fits your specific requirements should not be difficult.
However, with such a wide range of choices, it can be hard to determine which application is the best for your business. After all most online selling platforms also provide tools, such as eBay inventory management.
Inventory management remains one of the critical targets of companies. Every time an order remains unfulfilled, it dilutes the trust that the customer has in the brand. Obtaining Inventory accuracies is possible with the intelligent use of technologies. Companies have to embed a robust inventory management system to win customers, serve them better, and to retain them for the lifetime.
What is Inventory Management Software?
Inventory management software is a highly effective tool used by millions of companies to prevent stock-outs and improve supply efficiency. Balancing all your current product demand with future needs while controlling your overhead and operating costs is easily possible with an inventory system.
Small business owners face many challenges when they’re just getting started, such as securing financing, finding customers and managing inventory. As small businesses grow they think they have to leave their accounting solution for a more expensive solution to take their business to the next level. Fishbowl is the best inventory system for small businesses. It’s an affordable and robust inventory management software that’s flexible and can grow with you. It seamlessly integrates with QuickBooks so that your accounting and inventory data is centralized and in sync.
BENEFITS
Here are the three main benefits you’ll enjoy by implementing Fishbowl:
- Cut costs – For many businesses, inventory is their biggest expense. Small businesses don’t have money to waste, so they can’t afford to tie too much of it up in idle inventory. That’s why you should use an inventory system to help you order just enough products so you won’t have a shortage or overstock. Lean inventory management means ‘trimming the fat’ and keeping a fluid supply chain in place. Fishbowl provides the framework for this to happen.
- Increase productivity – Inventory management involves a lot of juggling and several different reports to monitor. Business owners have to constantly keep track of how much inventory they have on hand, how much they are going to need, and how long it will take to receive new inventory. Use technology to your advantage and automate these time-consuming manual processes. Small business inventory software helps managers accomplish all of this in a fraction of the amount of time it would take to do it all by hand. You’ll be amazed at the time you’ll save.
- Eliminate errors – When you have a small operation, you might be tempted to keep costs down by doing all of your accounting and inventory management by hand or in Excel spreadsheets. But if you write or type orders by hand, you run the risk of making typos or other errors. Using barcode scanners and inventory management software virtually eliminates these errors from your recordkeeping. It also helps you be more productive because if you know that your inventory records are accurate, you don’t have to do time-consuming physical checks of your inventory very often. Integrate your inventory software with QuickBooks to completely get rid of double data entry.
KEY FEATURES
To make these benefits possible, here are some of the key features Fishbowl offers:
- Access Fishbowl on desktop computers or remotely from virtually any device or Web browser.
- Track your inventory across multiple warehouses and locations.
- Set up automatic reorder points for every part in your inventory.
- Seamlessly integrate with QuickBooks, Xero, Salesforce, Magento, Amazon, UPS, FedEx, and more.
- Use inventory forecasting and reporting capabilities.
- Generate and receive work orders on a multi-level basis.
- Enjoy all the barcode functionality you need – generation, printing, and scanning.
- Duplicate bills of materials for a variety of manufacturing jobs.
- Pick, pack, and ship orders quickly.
- Access an integrated time and labor solution to track employee hours, project costs, payrolls, and taxes.
- Gain the ability to view production stages throughout the manufacturing process.
QUICKBOOKS INTEGRATION
What exactly does Fishbowl’s integration with QuickBooks allow you to do?
- Update the general ledger with sales orders and purchase orders from Fishbowl.
- Send accounting adjustments, such as inventory asset, cost of goods sold, and income, to the accounting solution.
- Print invoices, packing lists, and other important documents to include with shipments.
BIG HELP FOR SMALL BUSINESS
No matter what industry your small business is in, you can enjoy big benefits by using inventory management software. It can help you save money and keep the customers you serve happy. Take Fishbowl for a test drive with a free trial or set up a demo with one of our inventory specialists who will help you make an educated decision.
TL;DR SUMMARY
With automatic reorder points, inventory forecasting, barcoding, order fulfillment, and other features, inventory software helps small businesses to:
- Cut costs
- Increase productivity
- Eliminate errors