Your preference for e-commerce inventory management software can either create your business or can break your business.
With the help of the right tools, you can boost your e-commerce inventory management, save significant labor costs and time, and increase the revenue potential of your business at the same time.
However, if you are using poor and inefficient software, then it can impact your profit margin and trigger incompetency in your particular e-commerce operations.
Now let us begin by understanding what an e-commerce inventory management software is.
What is an E-commerce Inventory Management Software?
E-commerce inventory management automates the method of monitoring inventory for online sellers.
It provides you with visibility together with your e-commerce supply chain, to provide you with an understanding of what is in your particular warehouse, your inventory stock, and when you need to re-stock.
Along with these basic functions, a few of the e-commerce management software also enable you to monitor inventory across several sales channels.
The integration features may also be present for you to sync the inventory data with your accounting system with ease, for example, cost of goods sold.
Now let us learn about the mandatory features of an e-commerce inventory management software.
What are the Mandatory Features of E-commerce Inventory Management Software?
The purpose of using inventory management software is to modernize the procedure of inventory management for your particular e-commerce business.
To put an end to this, here is a list of the core features that must be present in a good e-commerce inventory management software.
- Product Identification: Include Serial numbers along with product barcodes to enhance inventory tracking
- Order Management: Handle returns, digital picking plus order rules
- Reporting: Issue insights in order to pass the inventory performance
- Purchase Order Management: Make and monitor purchase orders, manage suppliers, and plan the re-orders
- Inventory Management: Offer real-time visibility in all sales channels
- Shipping Management: Monitor shipping status or handle shipping channels
- Forecasting: Display future inventory requirements with the help of historical data
Now that we know what are the compulsory features of an e-commerce inventory software are, let us learn about the top 4 e-Commerce Inventory Management software present in the market.
What are the 4 best E-Commerce Inventory Management Software Solutions?
Selecting an e-commerce inventory management software may sound easy, however it is not. Making the right decision for your business is your duty, however, it can be quite difficult, especially when there are several software solutions and providers available to select from.
In this article, we will be fixing this problem and that is why we have shortlisted the best four e-commerce inventory management software for you.
Note: We take into consideration the functionality of the software along with original user reviews to assemble the list of suggested inventory management software.
InFlow is tagged as an all-in-one tool used for inventory management.
Features of inFlow
The inventory management software has a broad range of features that can assist e-commerce businesses improve their workflow in several aspects:
- Order Management
- Inventory Tracking
- Supplier Management
- Integration (For instance, accounting systems, e-commerce platforms, etc.)
A key feature of inFlow inventory management software is that it is extremely user-friendly. With the help of its mobile app, you can handle products, prepare orders, and even handle stock transfers on your particular iOS or Android device.
If you own a small business enterprise, this particular inventory management software will be the best option for you.
Pros of inFlow
Here is the list of the advantages of inFlow Inventory Management software:
- Easy to configure or set up
- Seamless interface
- Customer support is very helpful and responds promptly
Cons of inFlow
Here is the list of the disadvantages of inFlow Inventory Management software.
- Often users report minor tags when a particular data is updated
- The cloud option is considered very costly
- Some of the features can be very classy like filtering and search by several fields
Trunk is a cloud-based software solution that emphasizes multi-channel inventory management.
Features of Trunk
It allows e-commerce sellers to list their products on several online platforms and monitor stock levels in real time. For certain businesses with several sales channels, the Trunk inventory management software syncs feature also assists in linking product listings together with SKUs (stock keeping Units) to restrict duplicate entries and customize the workflow procedures.
Furthermore, the trunk syncs product listings across several sales channels. At present, trunk supports integrations with more than 10+ e-commerce platforms, comprising:
Amazon (including Amazon Handmade)
- QuickBooks Online
If you are experiencing trouble with multi-channel inventory management, it is highly recommended.
Pros of Trunk
- Easy to navigate and use
- Perfect value for money
- Assists in syncing inventory across multiple sales channels
- Best customer service
Cons of Trunk
- It is quite complicated for certain users while setting up
- Only a few features are present, like for example, Predictive Analytics is not available yet
3. QuickBooks Commerce
QuickBooks Commerce is created by Intuit Inc. Not to mention, the software company is also the owner of Mint, MailChimp, TurboTax, and Credit Karma.
Features of QuickBooks Commerce
It is renowned for being a comprehensive solution that aids e-commerce companies in streamlining their order, inventory, accounting, and reporting procedures.
Additionally, it easily integrates with QuickBooks Online, the accounting division of QuickBooks.
Even while QuickBooks Commerce can meet the diverse needs of online enterprises, it is not appropriate for every e-commerce enterprise.
Below we have stated two compatibility checklists to assist you in figuring out if this process is perfect for you or not.
Checklist 1: QuickBooks Commerce is Perfect for Your Business in case you:
- Sell finished products
- Your orders are less than 30000 units per month
- More than one sales channel is active
- The majority of the sales are online
- Standard units of measure are used
- You are based out of the US
Checklist 2: QuickBooks Commerce may not be Perfect for you in case:
- Want to monitor raw materials for manufacturing
- Use weights to measure items
- Rent products
- Create and sell customized products
- Monitor items with serial numbers
- Access drop shipping
Pros of QuickBooks Commerce
- Ease to use. It is not complicated and can be accessed on a mobile device
- It is helpful in bookkeeping and accounting
Cons of QuickBooks Commerce
- Only certain features are present. For instance, barcode scanning is not present
- Some clients face minor lags when financial data is loaded
- Customer assistance can be made better
4. Veeqo Inventory Management Software
It was established in 2013. It is a startup company created by e-commerce experts for online sellers.
Features of Veeqo
In simple words, Veeqo is an inventory and fulfillment platform that has four primary functions to address:
- Order Management: It assists e-commerce sellers to monitor orders and handle product returns
- Reporting and Forecasting: Issues sales and inventory reports, plus forecasts inventory demand depending on historical data
- Inventory Management: Offers real-time visibility across several sales channels on a certain centralized platform
- Shipping: Handles shipping in bulk and repetitive tasks are automated with the help of built-in shipping software
Online retailers may handle orders and inventory centrally with Veeqo.
Now owned by Amazon, Veeqo has an advantage over other providers of inventory management software due to its quick expansion of its integration portfolio.
Here is a comprehensive list of the integrations presently available at Veeqo:
- Marketplaces: eBay, Amazon, and Etsy
- Accounting: Zero, QuickBooks
- E-commerce Platforms: Magneto, WooCommerce, BigCommerce, and Shopify
- Logistics: DHL, Amazon Shipping, UPS, FedEx
- Others: HubSpot, Zapier, Asana, and Stripe
Pros of Veeqo
- An extensive range of integration options is present
- Easy to use and very simple. Can be used on mobile devices too
Cons of Veeqo
- Customer support can be enhanced
- Certain features can be very complicated to go through
How to Select the best E-commerce Inventory Management Software?
Investing in e-commerce inventory management software requires a significant time and labor commitment, making it unfeasible to convert to a different program later on. For this reason, selecting an e-commerce inventory management software with care is essential.
Here are the four tips to select a software solution that is ideal for your business:
- Differentiate the Features and Prices: It would be ideal for you to subscribe to a software solution that offers the capabilities you require at reasonable prices, regardless of whether you manage a small business or are employed by a larger e-commerce corporation.
- Use before Paying: The majority of the e-commerce inventory management software businesses provide free trials. You can access them
- Consider about Your Requirement: Consider your main issues and how e-commerce inventory management software can help you resolve them. A larger corporation that requires insight throughout its whole supply chain has very different needs than a small business that sells customized products on marketplaces.
- Go through the User Reviews: Find out what real users have to say about the software firms as well as what they say about themselves. The benefits and drawbacks of the various inventory management programs (examined in this article above) are taken from a variety of review sources, such as G2.com, Software Advice, and Capterra.
Note: A well-organized inventory management software must not need a steep learning curve. Ensure the software you select is user-friendly since it will enable you to save on staff training time afterward.
Making the investment now to use e-commerce inventory management software will pay off in the long run by saving you tens of thousands of dollars.
Similarly, making an investment in the expansion of your company is a move that will pay off in the long run.
If you still have any questions or you are stuck with any queries, you can reach out to the Dancing Numbers team.
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