Here’s the second part of my blog post about finding the best inventory management solution. I published the first part three weeks ago. Sorry for the wait, but I think it was worth it. Let’s not waste any more time.
We’ve talked about what you should expect the right inventory management software to do for you. Now here are some of the features and benefits you should probably expect inventory management software to have.
Inventory Management Software Features
QuickBooks integration: Inventory management software should integrate seamlessly with QuickBooks. This is important because it saves time and makes the recordkeeping process more accurate. When you buy, sell or ship products, both your accounting software and inventory management software should be instantly updated with the same information. That means no double data entry and no chance of discrepancies arising between the two databases.
Multiple locations: Do you run a growing company that needs help managing inventory in more than one location? In this case, you should get an inventory management solution that is advanced enough to monitor inventory levels in multiple locations. It should help you quickly transfer products from one location to another to eliminate shortages.
Inventory tracking: No matter what kind of company you run, you need to keep track of all your parts and products. Inventory management software should help you see how much your parts cost, where they are, how many you have and when to reorder. You shouldn’t have to worry about losing expensive products anymore.
Support and training: Be sure to choose inventory management software that offers adequate training resources so you can get up and running on it quickly. You don’t want to get stuck with a complicated system you’re trying to learn on your own. Good inventory software providers should have training videos, support documentation, FAQs, support hotlines and more to answer your questions.
Strong ROI: Perhaps the most important benefit of using inventory management software is a return on investment. You should expect the software to pay for itself within a fairly short amount of time through cost savings and improved efficiency. You can use an ROI tool to see how quickly this will happen. I should have mentioned this in the first part of this blog post. You have to incorporate inventory management software into your budget. I realized that when I read the blog post “So how much does Inventory Management Software cost?” Decide how much you’re willing to spend and then choose the best software in your price range. There are affordable options.
After going through all the features and benefits inventory management software should provide, you need to decide which one is best for your company. I recommend Fishbowl Inventory because it meets all these criteria, and it is the most popular inventory management software for QuickBooks users. You can schedule an inventory software demo to have an expert show you how it works. Check it out today!