Today, small business inventory software is available as never before. While store owners can do this all by themselves, there are a lot of inventory management software solutions for small businesses that can automate this process and help create new strategies.

Automating your business inventory planning can be an advantage in a constant struggle with your competitors. But the reason for making friends with specialized software is the digitalization trend around the SMB community and a vital necessity. Here are the most obvious pros of getting rid of manual inventory management:

• Reducing the funds “frozen” in unnecessary stocks

• Decreasing your business warehouse costs such as rent, workers’ salaries, and variable costs;

• Improving your business order accuracy

• Integrating with other business tools: POS, accounting, CRM, and bookkeeping;

• Ramping up your customers’ loyalty with favorite goods always in stock.

Key inventory management software features to look for include:

Instant syncing of an inventory management system

When you have many products, keeping track of their inventory and business takes time and effort. You need to record each unit of product, its selling price, current stock, and so on. This can be a time-consuming process when you’re dealing with hundreds or even thousands of products. Good inventory software will calculate for the businesses automatically, providing you with up-to-date information about what’s going on in your stock by deducting the sold amounts. 

Forecasting and reports of small business performance 

Forecasting helps businesses understand how much they need to produce, when they need to produce it, and where they should store it so that they always stay supplied. On the other hand, good business reporting about the inventory on hand provides you with insightful data. This data plays a crucial role in the long run since you can create unique business strategies based on the top-selling products and purchase frequency.

 Stock notifications from inventory management software

Some inventory management software provides its users with special notifications and alerts to signify when a business product has hit its pre-defined reorder point and needs replenishing.

Integrations with the platforms in use and order management

Integrating with proper order management software is the best solution since you don’t need to manually check every small detail of each product – the connected software solution will do this automatically. 

Take a deep breath and choose Katpen INV. It helps you offer the best support and the easiest onboarding and has a wide user community behind it. Remember the features you need right now and those that you’ll need a few years later.

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*Katpen INV is one of the products of KatPen Innotech Solutions