SafetyCulture Summit 2021
Conduct a paperless and hassle-free inventory
Published 27 Oct 2021
Inventory management software is a digital tool that enables efficient and accurate reporting of inventory on stocks, raw materials, and supplies. A good inventory management app should generate detailed reports, showcase data analytics, and help users leverage the two to gain actionable business insights.
iAuditor is a digital tool that can be used for keeping track of stocks, raw materials, and supplies. Unlike most inventory management software, iAuditor is available on both the web and mobile devices. This is a handy app for companies that plan to move away from using paper forms and checklists when doing inventory, with its smart forms feature that automatically converts existing paper files into digital forms. If you’re just starting out on your inventory management or looking for a tool that better fits your needs, the iAuditor public library contains thousands of customizable templates you can use for free. Inventory managers can get real-time inventory reports the moment inspections are completed and synced. Using iAuditor as inventory management software allows you to automatically generate flexible inventory reports. Inspections are also made easier by allowing customizations like media uploads, product SKUs, notes, logic queries, and location data. This app can also be integrated with other inventory management systems to maximize workflow automation. iAuditor smart sensors work alongside the app. This sensor can help track and maintain the quality for perishable goods. The sensor monitors temperature, humidity, air quality, and as well as when a door opens or closes. iAuditor also offers free customer support and educational resources for easier onboarding and solutions.
Small and medium businesses and enterprises from any industry can use iAuditor as inventory management software. A user-friendly mobile and web app interface helps minimize the learning curve so that employees can use it within minutes. Download iAuditor on iOS and Android devices or use the web platform to access your data on popular web browsers.
Shopify is an e-commerce platform that allows users to list their products and services online. This virtual storefront can help you build your brand and manage your product listings more efficiently. Spend less time creating your online store by choosing from available templates or start from scratch easily using Shopify’s uncomplicated interface.
It’s important to note that the focus of Shopify is creating and designing online storefronts for businesses and artists. It includes inventory management as an extra feature. Online sellers should use this app if they’re planning to move their business to an exclusive online platform. Shopify enables freedom and flexibility for business owners while offering features such as inventory of available products and summary of fulfilled orders.
Zoho is an inventory management software that offers a complete range of inventory features, including [please mention 3 main inventory features]. It also comes with item management, customer lifecycle, vendor relations, integrations, automation, and other smart features. The Zoho dashboard allows companies to access stock and inventory data from different warehouses without the need to visit each one. A simple and intuitive design makes it easy to get an overview of sales activity, product details, top selling items, purchase order, sales order, and the overall inventory summary.
This software is recommended for businesses that need an elaborate inventory management system. Zoho can stand alone for inventory operation purposes without the need to integrate it with other software. One of its main features is the ability to do end-to-end tracking of product inventory. It can handle inventory requirements for medium to large businesses and offers a free trial for 14 days so you can try it out first before making a commitment. Retail companies will greatly benefit from this software due to its product tracking features, but industries that need to take inventory of raw materials should check out other options because Zoho is not designed for that. There are features that would work best on businesses that handle huge volumes of inventory, such as multi-warehouse management and EDI.
Add-ons - additional $5 for every 50 orders above account limit
Square inventory is part of the Square software suite that offers an ample amount of inventory management capabilities. It works best when it’s integrated with the main software and used as an entire system. Square, the main application, is a point of sale (POS) system used commonly by retail companies and restaurants. Square goes beyond the cash register by using mobile gadgets such as tablets to manage sales in-store. This is the ideal option for businesses that don’t have a permanent location because it’s an equipment you can take anywhere and everywhere. Square Inventory automates numerous processes such as sales, payroll, inventory, and allows for cashless transactions via its electronic payments feature.
This software is recommended if you’re already subscribed to or if you’re interested in the main Square application. Using this feature by itself isn't ideal and will take too much time since inventory updates can only be automated from the main Square software. Think of it as an additional feature and not something made for exclusive inventory use. However, present subscribers should maximize their accounts by incorporating this inventory management feature into their POS processes. This software works best for the retail and restaurant industry. Examples are food trucks and mobile businesses that need an on the go POS and inventory system.
Free - using the inventory management feature is free however every successful customer transaction has a fee
The inventory management feature of Quickbooks can automatically update information about stocks when a sale happens. Quickbooks is essentially an accounting software that keeps track of expenses, manages cash-flow, payroll, taxes, payment processing, makes invoices, and provides other accounting-related features. Additionally, the inventory aspect of this application is geared toward product stock management instead of raw materials inventory. Its inventory management feature works similar to the Square software.
Only Plus account holders have access to the inventory management system of Quickbooks. It’s important to note that this software isn’t designed for managing inventory but works adequately as a side feature to track product sales. This suits all types and sizes of business, especially ones that sell tangible goods. Use this software if your business mainly needs an online accounting software with inventory tracking capabilities.
ShopKeep is a complete POS system that features an inventory management feature. This application is similar to Quickbooks in terms of functionality but is not marketed as an accounting software solution. The difference is that ShopKeep has less accounting features and focuses on actual sales and product stock. The app’s inventory tab is customizable and adding new products can be done manually or by uploading a csv file. The items in inventory can be organized per department, category, and supplier which helps save time and prevents issues with the product.
Shopkeep is more an online storefront platform than an inventory management software, but it is a feature. This software is an excellent option for any business that needs a POS system that can also handle stock inventory. The basic account’s features are not as limited as other POS system software alternatives, which makes ShopKeepgreat to get started with.
Advanced - $199 per month with unlimited licenses per location, featuring exclusive features such as a customer loyalty program, social media management, and a hardware bundle that comes with it such as a tablet pos system.
Sortly is a straightforward inventory management software that makes the process easy for beginners. Unlike the previously mentioned applications, Sortly can track raw materials along with other products. This inventory management app can generate QR and barcodes for products and other goods for easier and more efficient tracking and recordkeeping. Data entry fields can be customized to only track what’s important or what needs to be monitored at any given time. Inventory report data can then be imported and exported in bulk via CSV.
This is recommended for new businesses since Sortly has a user-friendly interface that’s easy to learn. It’s available on mobile devices and on the web, with support for popular web browsers. The software is an ideal option for businesses that track stock and inventory. Users also have the option to easily integrate the software with their existing systems, but it also works well as a standalone inventory management system if the business doesn’t need a POS or accounting system.
Enterprise - $249 is an estimated price for customized accounts with more than 10 users. This tier is more advanced compared to Ultra accounts, with features such as multi-level user permissions, wide-scale integrations, increased security, single sign-on service, and team member training. Contact Sortly for more information about this account.
The main feature of Megaventory is inventory management. It includes every feature that a business may need for stock and inventory. Other features such as order fulfillment, report creation, manufacturing tracking, data administration, and software customization are also present within the software. This application can be integrated with the previously mentioned software solutions Shopify and Quickbooks.
Use Megaventory if you're looking fora great standalone inventory management app. Smaller businesses might be better off using an all-in-one selling platform and then integrate a standalone inventory app as the business scales up. Megaventory works best for medium- to large-scale companies in the franchise, retail, and manufacturing industries.
Enterprise - Enterprise accounts are for large-scale businesses that need customized services; contact for pricing
Caspio specializes in customized software but there is pre-built software available. Not all accounts have customization capabilities as seen on the pricing below. With that being said, currently there is no pre-built inventory management software in Caspio. Users will have to keep in contact with the software developers to assist them with the features they want, pricing could change depending on the requested customization.
Caspio is made for businesses that want every feature to be exactly what they want it to have. The available features are good but for the price point, it seems to be better off choosing another one from the list especially if it’s a small and medium sized business.
Enterprise - Price has to be inquired, this has all the features including their exclusive enterprise capabilities.
Oodo enables users to select which applications they need with their system. It eliminates the need to integrate external applications unlike the previous inventory management options. The features for this software include everything a business may need for their inventory management at a good price, including [state unique selling point or main features].
This is a great inventory management software option for its price that even small businesses can benefit from. Keep in mind that add-ons and more users will increase the cost of using this application. This is the perfect option for businesses that want to pick which apps to include with the inventory management app to create an all in one system that addresses specific business needs.
Users can also purchase other Oodo software to integrate with the inventory app, including apps for invoicing, sales, ecommerce, POS, accounting, and other business applications. Prices range from $5 to $30 per user every month.
Handling inventory and orders can take up a lot of time, especially as the business grows bigger. That’s why more and more businesses are choosing to convert from manual inventory to digital inventory management. The top benefit of going digital is that applications and software are jam packed with features that helps save time. These digital tools also ensure that data is free from human error.
There are different factors that should be considered before deciding which inventory management software best fits your business. Think about the features you may need, the price, and also your business size.
The list above presents numerous top features to look out for when deciding on the right inventory management application. The features common among the apps in the list include stock notifications, integrations, ability to create unique barcode/QR, and order trackers. Exclusive features, such as ones for enterprise or higher-tier accounts, include support for large-scale inventory, multiple locations, and high security.
Some of the aps listed are geared toward product sales such as Shopify and ShopKeep, with inventory management working as a database of current stocks. iAuditor and its smart sensors effectively control inventory by tracking real-time quality and quantity of stocks and raw materials . Interested users that know what specific features they need but can’t seem to find the perfect fit should try software options that offer customization such as Caspio.
Depending on the features, the average pricing for inventory management software ranges from $10 per user per month to $500 for a lifetime license.
Licenses only give the right to use the software and not ownership, which limits the user to the specified terms and conditions. Software subscribers are account holders that pay every billing period to use the product. When the plan ends, the user will lose access to the software or application until they renew or continue to pay for the plan.
Generally, inventory management software is priced based on the number of:
To choose the right inventory management system, you also have to consider the size of your teams. Putting people at the forefront of business decisions helps you make sure that you’re empowering employees with the right tools, enabling them to do their jobs more efficiently. Here are some suggestions for what inventory management system to choose based on company size:
This article covered everything you needed to know about inventory management software. Overall, the inventory management software your business chooses to integrate with your system should make inventory more efficient and accurate.
As a researcher and content writer for SafetyCulture, Erica is tasked to contribute to the expansive information available on the website. She makes sure that her content contains correct and timely sources for various industries. Her goal is to help spread awareness and create a culture of safety in the workplace.
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