We also like that Ordoro makes nontraditional inventory management strategy possible. Then, anytime a customer orders those items, Ordoro can automatically send the order to the appropriate vendor, thereby cutting out the middleman (you), maximizing supply chain efficiency and ensuring your customers get their items as quickly as possible. For instance, you can assign vendors to specific products in your catalogue.
Ordoro also offers vendor management features that make dropshipping a breeze.
#Inventory and accounting software for small business update#
With Ordoro, you can create master products within your inventory system, allowing you to update descriptions, images, branding, and more across all (or some of) your sales channels at your discretion. Fortunately, Ordoro makes multichannel selling easier. Without further delay, implement the integration of inventory management and accounting software, and enjoy the game-changing results.It’s hard to practice good inventory management techniques when you’re juggling multiple sales channels. Two different data when fused together produce much more analytic numbers. Once you integrate both the software into one you get a multitasking system which produces figures which are extremely precise. Real-time data available increases automation in the business.Įffective decisions like these make your business superior to competitors. The human-work is reduced and most of the important decisions are based on the output from the two-in-one software.Īccurate financial reports can be obtained effectively through the integration of inventory transactions with the back office chart of account. Integrating two of the most vital softwares of your business into one platform makes thing a lot easier for you. Integrating the transactions of your inventory system with the back-office chart of accounts helps to remove complications, mistakes and delays. It is very important for investors and companies investing public markets. So all these unnecessary touch points are reduced as all the systems are working together and chances of rework are reduced.Įvery business has to check inventory with accounting data to avoid any kind of discrepancies. Redundant works not only waste time and energy, along with it money is also wasted. Also, this removes the extra load, work will be divided efficiently and fewer mistakes.Ī lot of money is spent on labor expenses. They can now see your fluctuating inventory levels and make sure that you have enough to fulfill the customer demands.
To do so, Inventory management software must be integrated with Accounting software but also supplier systems.īy doing so, you are not only showing them that you trust them with your information but also ensuring that you don’t have to put in extra efforts to optimize respective supplier’s product level in your stock. Now, this is a new trend to provide inventory level visibility to the supply-chain to manage customer shipments. Inventory visibility to Supply-chain partners
Real-time visibility will help to plan out the right amount of inventory required for demand, purchase orders and sales.Ģ. The integrated system of inventory and account will help in better analysis and provide valuable insights like the sales forecast, cash flow. On the other hand, having a shortage of goods will lead to canceling orders and disappointing customers. So collecting excess inventory will lead to goods sitting on shelf and money being wasted on them. Customers want the products that are in latest trend. Storage and handling costs are associated with every item stored. Optimizing inventory helps to maintain customer satisfaction and avoid wastage of money. So, why not fuse both the databases into one and make things easier?įive Advantages of Integrating Inventory Management and Accounting Software for Small Business: It is feasible because both the departments have many common transactions like sales orders, purchase orders, bills, invoices. Integrating Inventory Management with Accounting Software provides a competitive edge to the business as it minimizes risk, saves some money and automates the processes. These two entirely different components of your business can be incorporated for better management. Accounting software defines the current standing of your company while Inventory Management software is used to maintain a healthy warehouse and track all the shipments and orders. Inventory management software is a must for a business of any size and so is an accounting software. The complexity of business is increasing day by day, there is so much important data to be efficiently dealt with.