If you are looking to earn money by selling products online, then you need all the help you can get. Inventory management software can be an invaluable tool that automates a lot of your tasks, makes your life easier and allows you to focus on other aspects of your business. With so many software products on the market, choosing the right one can be difficult. Here is what you should be looking for when it comes to must-have features:
Your inventory management software should be able to provide you with the data you need for your specific business. Every merchant is going to have different demands, so make sure that you will be able to easily view and track real-time inventory levels and place orders when needed. You will also want the ability to view when new inventory arrives, how much is in the shipment and which orders have been filled.
A certain level of learning curve is to be expected when you onboard new software, but you don’t want to waste too much time trying to find information or enter new products. Look for software the includes a well-designed dashboard that is both visually appealing and easy to navigate. This can save you a lot of time and headaches and thoughtful design demonstrates shows that the software is in-tune with the needs of its customers.
Security and Backups
Whether you are hosting your store on the cloud or personal servers, you want to know that all your information and hard work is secure from hackers and protected in the case of major malfunctions. For online sellers, any downtime can result in a significant loss of revenue. Look for software that includes the latest security protections and offers regular if not daily backups that will allow you to quickly recover in the event that something goes wrong. With the right software, you can immediately get back to business without letting your customers down.
Easy to Add Integrations
When you start out, your inventory management software may be enough to handle your ecommerce store, but as you expand, you will probably find that you need additional tools. These can include accounting, customer relationship management, enterprise resource planning and other software. Integrations can allow you to expand operations and acquire new resources to meet demands. The right inventory management software program will be able to seamlessly integrate these new tools so that you can operate more efficiently and better serve your customers.
Your inventory management software should be able to naturally grow with your business and adapt to your changing needs. As you continue to succeed and expand, you will add inventory, customers and users. If your software can’t keep up, then you may find yourself in some difficult situations. The last thing you want to have to do is to interrupt your business to upgrade your software. Not only will this cause logistical delays, it also means having to retrain staff and become familiar with a whole new way of operating.
It won’t take you long to realize just how important reporting is to running a successful business. The more data and information you can collect and analyze, the easier it will be to make smart decisions that keep you moving forward and staying competitive. Reports can reveal which products are selling the best and which are providing the most ROI. They can also be a great tool for easily identifying trends. Think about what types of reports will be most useful to your company and make sure your inventory management software can deliver. Some options to think about include: order history, inventory totals, transaction reports and inventory summary.
At the very least, your inventory management software should offer all of these must-have features. If you have any additional special needs, be sure to do your research and ensure that your software choice can deliver. While there are many software products on the market, Channel Lister can simplify the software shopping experience since we have worked hard to create a superior product. We began as merchants and realized that the solutions we were creating for ourselves could help others. From there, Channel Lister was created and has been helping merchants conduct business online ever since. If you would like to learn more and see if we are a good fit, contact us today