Who is most likely to purchase inventory management software and what are the most important things they are looking for in the software they buy? These are the questions I’ve been answering over the past six weeks.
Ninety-six percent of inventory management software buyers are doing so for the first time. They are looking to replace their old inventory management methods, which include QuickBooks, Excel, ERP, or pen and paper.
Seventy-three percent of buyers want a best-of-breed inventory management solution, 26 percent want an integrated suite, and 1 percent want separate products.
Half of inventory management software buyers are looking for basic inventory control features. Other important features include barcoding and scanning, demand forecasting, QuickBooks integration, lot tracking, and kitting.
Business leaders make up 63 percent of buyers and IT professionals account for just 7 percent. The other 30 percent are spread out over so many different categories that they are simply listed as “Other.”
The four main reasons that motivate companies to purchase inventory management software are that they want to modernize their business, automate/organize their inventory processes, have greater functionality, and keep up with company growth.
Small businesses make up a huge portion of inventory management software buyers. Eighty percent have fewer than 51 employees, 10 percent have 51-100 employees, another 10 percent have 101-500 employees, and a marginal number have more than 500 employees.
Based on this analysis, provided by a Software Advice study, we can conclude that most of those looking for inventory management software right now are doing so for the first time and that they are mainly small-business owners who value simplicity and modern ways of managing inventory above all other factors.
If you are looking for advanced yet affordable inventory software, give Fishbowl Manufacturing and Fishbowl Warehouse a look. They are the most popular inventory solutions for QuickBooks users, and they have all the features you need to handle a growing number of inventory items, locations, and customers.
Sign up for an inventory software demo to see Fishbowl in action!
Robert Lockard is a copywriter with Fishbowl. He writes for several blogs about inventory management, manufacturing, QuickBooks, and small business. Fishbowl is the #1-requested manufacturing and warehouse management software for QuickBooks users. Robert enjoys running, reading, writing, spending time with his wife and children, and watching movies.