Business software solutions are not just a way to cut down on paperwork. They can significantly improve a company’s workflow, while also cutting down costs and boosting profits. The inventory is one of the most unpleasant business activities, as it takes a lot of time, and it involves a lot of counting. However, this activity is essential for a retail business, to monitor past performance and forecast future sales. Up until a few years ago, the inventory was performed manually and the data was recorded either on paper or on Excel sheets. However, nowadays there are numerous inventory apps which make the inventory process easier and more efficient. Nonetheless, since there are so many apps on the market, it can be quite hard to find the one which would best serve the needs of a specific business. In the following lines, we will discuss the two main criteria that one should consider when comparing different inventory software solutions.
1. What the app can do for you
So, the first thing that you need to consider is what business needs you expect the app to fulfill. While each business has different needs, a good app should be able to bring you the following benefits:
• Lower costs – First of all, a good app should allow you to perform the inventory activity a lot faster, so you won’t pay your employees for performing redundant tasks. Secondly, it should allow you to optimize your stocks, so that you avoid having your money stuck in dead stocks. Some apps come with a ROI feature that allows you to see when your savings exceed your initial software investment.
• Higher employee productivity – In order to allow your employees to perform the inventory process faster, a good app should be easy to use, even by people with minimum technical skills. In our opinion, the Sortly inventory app is by far the most intuitive inventory software solution. It can be installed in a matter of minutes, and it can easily be used by anyone. Italso allows you to easily delegate inventory tasks, so you don’t have to depend on specific employees for this task.
• A more efficient work flow – By organizing all the inventory tasks, and by allowing all the relevant staff to have access to important inventory information, an app will make it easier to place orders, receive new merchandise, pack the ordered products and ship them to the customers.
• More relevant and accurate data – Manual inventory is often subject to human error, and the data that you gather during this process is very difficult to process. On the other hand, an app will decrease the chances of human error, and it will come with predefined functions that allow you to process the data and present it in a relevant, and easy to read manner.
• Optimized stock – With the help of a good app, you can optimize your stocks, so that you never end up with an empty shelf, thus wasting the opportunity to make sales. Moreover, an app will also help you prevent overstocking, so that you don’t have valuable cash flow stuck in unpopular products.
2. Features that matter
In order to benefit from the advantages mentioned above, an inventory management software solution should come with a few essential features:
• Tracking – a good app should easily tell you the quantity of your stocks, the price of your products and their location. It should also notify you when you need to reorder various products to refill your stocks.
• Easy integration with your accounting software
• Support – No matter how easy to use an app is, the software provider should offer free technical support, in case you ever encounter any inconveniences.
• Special features – Depending on the needs of your business, there are some features that could make your life easier such as the ability to handle multiple storefronts or warehouses or the ability to scan barcodes.