At the junction where supply meets demand sits your inventory, the most important asset to a business of any size. Having an easy-to-access source of all your key information on sales history presented in conjunction with your inventory data puts all the essential information you need in one convenient location.
This can proffer keen insights on your products, their success rates and even help you project future inventory needs with precision. Following is an in depth looks at some of the important benefits of linking your inventory management software with your accounting system.
The first and foremost advantage of this integration is simple convenience. By having your inventory management readouts presented next to your customer data and sales history all that time wasted back and forth between apps, pages and phone calls can be eliminated instantly. Because all of your information will be updated in real time, there will be no need to digitally or manually transfer data from one spreadsheet to another — minimizing human errors.
2. Precision Purchase Orders
With the accounting data at your fingertips, taking the time to make those important purchase orders won’t be so time-consuming. This marriage of technologies can also root out much of the guess-work that stems from not knowing the conditions of current stock, the performance of previous stock or the exact quantity needed. Problems that come from being over or under supplied can also be circumvented.
3. Better Stock Supervision
The delicate balance between the stock you keep in storage and the demands for it can be observed, monitored and prepared for in real time. Even if you are far away from the office you can consult your mobile app to check for fluctuations, if you have properly integrated your mobile inventory app with your accounting system.
4. Comprehensive Sales Analysis
By observing the way your items come and go from storage to sales, you will be able to analyze the trends and this can be very profitable. Being able to compare stock performances across times and places can improve the accuracy of future product purchase. On a smaller scale, this kind of intuitive insight can mean the difference between tipping the scale favorably and capsizing the ship.
Mobile inventory from DataQlick consolidates the union of your accounting software, like Xero or Quickbooks, and all your essential inventory data. There is not a retail business of any size in existence today that can’t afford to improve this vital balance and enhance overall company progress.