Many companies rely on accounting software with inventory tracking to manage their stock and fulfil their customers' needs. What are the benefits of this sort of software?
You’ll delight your customers
Today’s customers want assurance that you will fulfil their orders quickly and accurately. Cloud-based accounting software with inventory tracking can accommodate different pricing levels for customers with different order frequencies, set up discounts based on order quantity, and manage pertinent customer information, all so you can best serve your customers’ unique needs.
You’ll cut expenses
Managing inventory is a time-intensive and often error-riddled process that can delay fulfilment and impede cash flow. Too much inventory increases capital carrying costs and stockouts impact sales; both are the result of poor inventory management. With an inventory management solution, you can rigorously control your warehouses, avoiding common errors such as mislabelling and misplacing items.
You’ll have a complete, transparent view of your inventory
Managing every stage and detail of your inventory flow is a challenge that you can only overcome with the proper tools and insight. Cloud-based accounting software with inventory tracking displays crucial inventory resources, including item information summaries, recently used inventory reports, and graphic analyses of trending sales. With sophisticated inventory management, you can put this crucial asset to the best use possible.
You’ll maximise profit margins
In the early 2000s, Nike rebounded from a $100 million loss in sales by adjusting its inventory management system. Running out of stock, or ending up with too much, can seriously damage your business. With the proper solution, however, you can instantly analyse live sales and inventory data, and produce accurate forecasts in no time at all. Rather than worrying about fulfilling orders, you can focus on maximising profits.