The advantages of inventory management software are numerous and can help small businesses scale operations that have outgrown QuickBooks; extending the life of QuickBooks.
More than 80% of small businesses opt for QuickBooks for accounting and to conduct all of the necessary financial management duties that go along with running a company. While QuickBooks is reliable and well-known, there comes a time where businesses can outgrow the capabilities QuickBooks has to offer.
This is the point where businesses begin to seek additional software to make carrying out and managing operations a more efficient process. Fortunately, the many advantages of inventory management software, such as Acctivate, can be realized without moving away from QuickBooks.
1. Limitless data capacity
Vast data storage files in Acctivate is one of the advantages of inventory management software. Through the use of Microsoft SQL, Acctivate’s limitless data capacity provides a more powerful and reliable means to effectively manage data. Unlimited data capacity enables a business to better communicate with other systems, such as various eCommerce platforms, as well as other systems that may need operational information. Utilizing a database that does not have restrictions allows a business to quickly make changes and adapt to different operating systems results in a more successful company.
2. Unlimited users with permission controls
Acctivate is robust in its capability to operate unhindered by the number of active users. One of the key advantages of inventory management software is having the means of separating the inventory management functions from the financial management. Businesses have the power to customize employee permissions to restrict access to QuickBooks. Financial information can be kept private with user restrictions while order fulfillment and inventory management can still be accessible to employees.
3. Proper landed cost allocation
Proper landed cost allocation allows businesses to see a more accurate and true cost of inventory. Acctivate allows organizations to account for all costs rather than at only one point in the purchasing process. Landed cost allocation is an industry leading inventory management software advantage that eliminates the need for adjusting costs manually and enables businesses to make strategic purchasing decisions. Time is saved and costs are accounted for all at once by taking advantage of computer automation as a huge efficiency gain.
4. Dynamic manufacturing
Manufacturing in Acctivate accommodates the unique processes of a business by providing versatile options for variable components, quantities and yields. Bills of materials can be altered while records of sales are maintained. Additional advantages of inventory management software in Acctivate can particularly benefit the food and beverage industry, as spillage and waste are also accounted for.
5. Flexible lot and serial tracking
Lot numbers and serial numbers can be tracked at the same time in Acctivate. Flexible lot and serial tracking provides an advantage to industries that have an obligation to meet federal tracking requirements. Acctivate’s precise tracking capabilities allow a business to identify exactly where a product was made. In the event of a recall, businesses can assess risk and minimize monetary loss and damages. Additionally, lot and serial tracking benefits companies with warrantied goods. By locating where a good was assembled, warranties can be validated. Acctivate’s ability to provide extensive tracing data results in better customer service, risk management and protection.
6. Multiple units of measure
Inventory comes in all shapes and sizes. Among the advantages of inventory management software is having the flexibility to handle multiple units of measure for items. Multiple units of measure allows for a primary and an alternate unit of measure to be used for each product in inventory. For example, items may be purchased and stocked by case or by pallet, but sold by individual item or a package of a specific quantity. Multiple units of measure is a feature that helps businesses with a diverse inventory cater to an array of customer needs and desires.
7. Comprehensive mobile warehouse management with barcoding
Improving warehouse operations with Acctivate’s extensive barcoding capabilities is one of the most strategic advantages of inventory management software. Barcoding in the warehouse allows businesses to reliably record current stocking levels, accurately perform transactions, minimize human error, and streamline performance within the warehouse. Accurate stocking levels is a proactive way to prevent stock outs and enable better purchasing decisions, resulting in a more profitable and successful business.
8. Extensive pricing strategies
Consumers differ drastically from market to market. Extensive pricing flexibility provides businesses the tools to meet the versatile demands of both B2B and B2C customers. With Acctivate, a business can sell one item to one customer at a certain price, while also being able to meet the needs of a wholesaler purchasing 100 items with complex pricing options such as tiered or cost-plus pricing. Having the ability to satisfy a diverse customer grows profitability and is a key to long-term success.