Inventory management software helps small businesses in three main ways
Small-business owners face many challenges when they’re just starting up, such as securing financing, finding customers and managing inventory. As small businesses grow they think they have to leave their accounting solution in favor of a more expensive solution to take their business to the next level. Luckily, Fishbowl is an affordable and robust inventory management system that’s flexible and will grow with you. It seamlessly integrates with QuickBooks so that your accounting and inventory data is centralized and in sync.
Here are the three main benefits you’ll enjoy by implementing Fishbowl:
- Cut costs - For many businesses, inventory is their biggest expense. Small businesses don’t have money to waste, so they can’t tie it up in idle inventory. That’s why you should use an inventory system to help you order just enough products so you won’t have a shortage or overstock. Lean inventory management means ‘trimming the fat’ and keeping a fluid supply chain in place. Fishbowl is the framework that allows this to happen.
- Increase productivity - Inventory management involves a lot of juggling and several different reports to monitor. Business owners have to constantly keep track of how much inventory they have on hand, how much they are going to need, and how long it will take to receive new inventory. Use technology to your advantage and automate processes that have become manual because of habit or comfort. Small business inventory software helps managers accomplish all of this in a fraction of the amount of time it would take to do it all by hand. You’ll be amazed at the time you’ll save – work smarter, not just harder.
- Eliminate errors - When you have a small operation, you might be tempted to keep costs down by doing all of your accounting and inventory management by hand or in Excel spreadsheets. But if you write or type orders by hand, you run the risk of making typos or other errors. Using barcode scanners and inventory management software virtually eliminates these errors from your recordkeeping. It also helps you be more productive because if you know that your inventory records are accurate, you don’t have to do time-consuming physical checks of your inventory very often.
To make these benefits possible, here are some of the key features Fishbowl offers:
- Access Fishbowl remotely from any device or Web browser
- Track your inventory across multiple warehouses and locations
- Reorder points are automated for every part in inventory
- Seamless integration with QuickBooks, Xero, Salesforce, Magento, Amazon, UPS, FedEx, and many other popular solutions
- Access inventory forecasting and reporting capabilities
- Receive work orders on a multi-level basis
- All the barcode functionality you need - generation, printing, and scanning
- Bill of materials can be easily duplicated
- Pick, pack, and ship orders quickly
- Integrated time and labor solution to track employee hours, project costs, and payroll totals and taxes
- Ability to view production stages throughout the manufacturing process
What exactly does Fishbowl’s integration with QuickBooks allow you to do?
- Update the general ledger with sales orders and purchase orders
- Send accounting adjustments, such as inventory asset, cost of goods sold, and income, to the accounting solution
- Pick, pack, and ship quickly
No matter what industry your small business is in, you can enjoy many benefits by using inventory management software. It may not help you find financing or customers, but it can help you save money and keep the customers you currently have happy. Take Fishbowl for a test drive with a free trial or set up a demo with one of our inventory specialists who will help you make an educated decision.
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