Why any business needs a good Inventory & Accounting Software
Posted Date : 21-November-2017
If you are asking this question,then you are about to take the next technological
leap of faith. When companies are conceptualized entrepreneurs need different tools
and skills to get the required traction in the market but when the company becomes
very big, then diverse kinds of skills and tools are needed like accounting software pos to succeed. A penny saved is a penny
earned and inventory is hard cash.
God is in the details so keep track of inventory. Always!
Good software can save your business by conserving precious inventory. No wonder
almost all accounting software’s
in the market strive to add value to the businesses they work. Else they will be
wiped out, so inventory and accounting software’s need to count inventory both perishable
and non-perishable in real time to ensure minimum loss. Damaged, stolen or defective
inventory should always be less than 2% of the total stock or else there will be
a problem.
Efficient inventory management is the key
Having too little or too much inventory; both scenario’s can be counter-productive.
Surplus inventory can be directed elsewhere so that the money locked up can be used
productively to full effect. Keeping too little or less than optimum inventory will
become an obstacle in order fulfilment. You will not be able to satisfy requests
for products that you usually stock and it will reduce the morale of both sales
and customer service teams. The net result: your customers will get ahead of you
in terms of order fulfilment and mindshare. Demand surges during festival times
can lead to a winner takes all scenario where you will lag behind by a vast margin.
Can you afford it?
Ancillary benefits of inventory management software!
There are a host of benefits that accrue to businesses who use inventory management
software to develop a sustainable competitive advantage against their peers in the
market. We have enlisted some below:
- Re-ordering becomes
easy: Yes, you can now have zero errors in re-ordering if manual re-ordering
gets replaced by software powered re-ordering. All the software needs to do is to
collate the total number of items sold and replenish the stock through daily sales
report on a last-in first out or first-in first out basis.
- Achieve higher efficiency:
Mis-communication between departments is minimized, leading to zero downtime,
prompt deliveries, increased efficiencies, and reduced wastage. By investing a few
hundred dollars morein availing the best kind of inventory and accounting software,
you will be bestowing your business with a de-facto ERP software. Manufacturing,
retail both online and offline benefits with increase efficiency as the velocity
of doing business rises with each new installation of
accounting software.
Say goodbye to the prospect of losing track of customer requests, start adding new
inventory and track inventory to the last minute. Leakages, wastages will be a thing
of the past if you embrace technology to help you do better in business.
Good software is like gasoline for your business; make sure you always have the
best-in class at your disposal.