Xero is a company from New Zealand that creates and develops cloud-based accounting software for medium sized and small businesses. In 2014 they ranked number one on Forbes magazine’s list of “100 most innovative growth companies”. When it comes to inventory management on cloud they mean business.
Recently, Xero released their highly anticipated added inventory management capabilities. The inventory management section ties in with the cloud-based accounting software. What’s more exciting is that you can combine your POS (point of sale) system with your inventory management system and your accountancy software. What’s the big deal? The big deal is countless hours saved. All data about the incomings and outgoings of your stock, finances and business dealings neatly compiled in one location accessible from anywhere in the world.
The financial savings that are available through the use of a cloud inventory application, accountancy software & POS systems are quite substantial. With all these products linked together, the possibilities are endless. People dislike having to enter data manually, as it’s time consuming and it is a process that is open to human error. With the POS system integrating with the inventory management and accountancy, the information is uploaded to the cloud automatically, inventory is managed and counted automatically and the appropriate financial calculations are done automatically. At any moment in time you can look at your cloud application and know the exact quantity of stock, the finances from sold stock and be able to make intelligent business decisions based on quantifiable data.
Xero’s integration of inventory management to their accountancy software represents the inevitability of widespread cloud-based systems management. Now is the time to get on board with this cloud-based technology. Adopting this now, allows a competitive advantage over rival business owners because in future this will simply be how things are done. Cloud-based inventory management doesn’t look to be here to participate but rather to take over.
