Choosing Affordable Inventory Management Software

June 20, 2022
Affordable inventory management software is out there, Fishbowl Blog

Everyone is looking for a great deal. That is the case in every part of life.1 Especially in business. We want to know we’re getting a lot of value for the money and time we put into something. This is, of course, true of inventory management software.

When comparing inventory management solutions and trying to find the best deal, you should look beyond the price tag. For instance, consider hidden costs, return on investment, ease of use, and other factors that could either sweeten or break the deal for your business. All of this will help you find the most affordable inventory management software. Not only that, but it will help you find an inventory management tool that will do the job well.

With this in mind, let’s go ahead and talk about each of the points we briefly listed above. Then you’ll be able to clearly see whether or not one inventory management solution is better than another. Because you’ll have a good means of comparison.

Hidden Costs

Instead of only looking at the obvious costs of buying inventory management software, think of the expenses that are harder to see. These include training costs, installation fees, and more. Try to find inventory management software that is intuitive and user-friendly. That way, you and your employees can quickly learn how to use it and track every inventory item more efficiently.

You don’t want to spend too much time or money just getting started with the inventory control software. If you get a small group of your staff members initially trained on how to use the goods inventory management tool, they can help train their coworkers. In addition, training videos and written documentation on inventory tracking and management features can help answer questions about the warehouse management software.

Return on Investment

Even if an inventory management solution is a little more expensive than another, it may still be more affordable in the long run if it offers a higher ROI. Whichever small business inventory software you choose should pay for itself within a fairly short amount of time by cutting your inventory expenses and making your small business or enterprise more efficient.

Not every inventory optimization and tracking solution will have the same impact on your bottom line. Ask the software providers for an ROI calculator to see how quickly you can recoup your costs and continue saving with their inventory software.

Discover our scalable manufacturing solutions. Book a Demo!

Ease of Use

As we mentioned earlier, inventory management software should be user-friendly. It may not be the easiest thing in the world to master at first. But it shouldn’t feel like a constant struggle to get it to do what you want it to, either. If you have to spend a little more to avoid a lot of frustration with the software, it’s a small price to pay.

Getting remote training can help by ensuring you get a recording of it. So you can share it with other employees. For example, once you hire new employees, you can give them the training to help them in their jobs. In addition, user rights limit the number of features each employee needs to know about.

Thus, they don’t have to receive the full training. Rather, they just need to know about the parts of the inventory software they’re responsible for.

Beyond the Price

Think about other costs that can arise by buying the wrong inventory management software. If you get a cheap solution, it may work fine for a while. But what about when your company grows and you need more functionality?

Such as multiple warehouses, cycle counting, or advanced manufacturing tools. The cheap solution might not offer those inventory features. And then you’ll have to hunt for a new one when you outgrow it. That means having to spend time and money searching for, buying, and learning a whole new inventory system.

It’s a better idea to get a flexible solution that can add features over time. That way, you don’t have to pay for advanced inventory features at the start. However, they’re available when you need them.

Truly Affordable

If you’re looking for truly affordable inventory management software, you should be sure to take into account all of the above factors, in addition to the software’s actual price. Find the inventory management system with the features you need right now and in the future. As long as it’s user-friendly and in your price range, go for it!

Sign up for a free online demo of Fishbowl software to see if it’s a good fit for your business.