Benefits of Using Cloud Inventory Management Software

Inventory management is a vital process that allows you to keep track of your stock. It helps you know what you need, what’s selling and the amount of money you’re likely to receive from your sales.

It also helps know when you should order new stock and how to minimize the cost of keeping your stock. If your company is still managing software in-house, it’s time to consider the benefits of using a cloud inventory management software like Finale Inventory.

Here’s a brief explanation of the features of a cloud-based inventory management system and the benefits it will offer to your organization.

What Is Cloud Inventory Management Software?

Basically, a cloud inventory management software is a suite of applications that help you track inventory levels, manage ordering, monitor sales, record delivery of new stock and manage your warehouse.

However, unlike software is that’s operated in-house, a cloud-based software system is managed in partnership with a vendor. They give you an account and take care of the system maintenance, while you focus on using the tool to manage your inventory.

You can also access the software from a variety of internet-enabled devices like your smartphone, tablet and laptop from any location where you have internet access.

How Does It Work?

Using an inventory management system in the cloud means you won’t have to invest heavily in new equipment like servers, employ administrators or spend extra money on securing the system. You simply choose a reliable inventory software provider like Finale Inventory and sign up for an account. You and your team will receive training on how to use the system. Then, you can start with an account or service plan that fits your needs and the size of your company.

Web-based inventory management solutions can be scaled up as your operations expand. Typically, the software will provide features for order management, barcode tracking, multiple location part tracking and integration with your accounting system.

Benefits of Cloud Inventory Management

Cloud-based inventory management solutions offer the following benefits:

  • Convenient access from any location: You can track inventory levels anytime and anywhere you have internet access. You ensure that supply is always enough to meet demand.
  • Easy customization: The system can easily be tailored to meet your unique needs to improve efficiency and fit your established workflow.
  • Automated updates: Your system provider will take care of all the details concerning system updates. You don’t need to employ IT experts to handle this.
  • Lower costs: You can sign up for the type of plan that suits your size of business and save the cost of buying hardware and other special IT services.
  • Better customer service: Efficient inventory management makes it easier to meet your customers’ demands and acquire more loyal customers.
  • Data redundancy: Cloud providers will always store your data is stored on multiple servers to ensure that your business is able to retrieve information at any given time, regardless of any planned or unplanned issues that may arise.

Things to Consider When Choosing Cloud Inventory Management

As with any system managed by a third party, there are a few things to consider when choosing which one will work best for your operation:

  • Dependence on an internet connection: If your internet provider isn’t reliable, then your inventory management system could be affected. It’s important to have a backup plan to switch internet providers if there is downtime.
  • Security: Cloud data can be accessed from anywhere online, so you’ll need to protect your login details and prevent unauthorized access.
  • Customer service: You must ensure your cloud-based inventory control system is run by a company that offers superior customer service. This important if your business requires a quick response to customer support requests.

See If Finale Inventory’s Cloud Inventory Management Software Is Right for You

If you need a top-rated cloud inventory management system that has all the features your team needs to manage your eCommerce, distribution or manufacturing inventory, then contact us today. Our solution has real-time inventory monitoring, integration with your accounting system, order management and robust reporting and analytics. Get your free 14-day trial or call us at 888-792-8891 for more information today.