Partnering with Australian small businesses across a range of industries, the team at Foresiight know that choosing the right inventory tracking software as part of your overall ERP software solution is crucial. Why? Well because stock control is essential for business success.
Regardless of your industry, from stock management for pharmacy to the hardware industry, to landscaping, homewares and everything in between, the right inventory tracking software will enable you to take control of your stock and your business.
What to look for
So how do you know what is the “right inventory tracking software” for your business? What functionality and support should you be looking for? Here are three things to look for when researching inventory tracking software.
- Industry specifications
Let’s be honest, there are many options when it comes to ERP and inventory tracking software providers. However, different providers will specialise in software by industry. So short-list providers that work in your industry. They should have a proven client list of industry partners and really understand the micro-detail of your industry.
- High-level support
When it comes to implementation and ongoing support, look for a provider that is on-hand to provide the high-level support you may need with your new inventory tracking software. Ensure that you can always speak to a real person and even better, work with an organisation local to your business that can offer on-site training and support.
- Business customisations
Beyond solutions tailored by industry, you will have requirements that are unique to your business. So ensure that the ERP software Australia provider that you choose can offer business specific customisations. There should be the capability to have customisations made upfront as well as down the track once your new software is implemented.
When to look
But when is the right time to start considering an upgrade to inventory tracking software that integrates across your business to provide an all in one business management software solution? Working with businesses across a range of industries, there are certainly some common “pain points” that small businesses experience that hightlight the need for all in one business management software comprising inventory tracking software.
The number one reason is growth. As your business expands transactions will obviously increase and stock movement gains significant pace. Once upon a time, the processes put in place to manage this worked. For many start-ups these processes are manual and rely on staff for data entry. This includes tasks like inputting sales and purchase orders, updating inventory, manual stock checks, processing invoices, billing and keeping track of client interactions. However, it becomes increasingly more time-consuming to process large volumes of data to the point where it is no longer manageable. Small business stock control becomes increasingly challenging.
Aside from growth and expansion, it may be time to invest in the right inventory tracking software when:
- – the amount of inventory in your business at any one time becomes difficult to measure
- – sales forecasting is inaccurate and unreliable
- – your business is struggling to keep up with orders
- – you’re no longer able to achieve accurate reporting
If your business is experiencing any of this then it’s time to find the right inventory tracking software for your SME business. Whatever industry you’re in, talk to the Foresiight team about how we can customise a solution for your business.
Click here for further information on Foresiight’s flagship business management software ProfiitPlus.
