Order Management Software
The advanced order management software gives you all the tools you need to manage your orders, from selling and shipping to purchasing and receiving. With centralized inventory, Finale Inventory provides complete visibility where your inventory is at all times.
Sales velocity insight to enable data-driven decisions
With every passing month, keeping track of product sales become more challenging and the likelihood of stockouts increases. With a centralized inventory, Finale dynamically calculate the sales velocity and projected days before stockout to allow you make data-driven business decisions.
With the order management software, being able to access historical inventory levels and analyze what products tend to stay on the virtual shelves longest provides valuable insights that help you make data-driven decisions that will grow your business.
Powerful reordering capability within order management software
Do you know which products you’re out of and when to reorder more? When it comes to order management, reordering is such a critical process to companies that it can very well make or break your business.
There are two big questions a purchasing department faces at any given moment:
- When should you reorder more inventory?
- How many units should you order?
If you over-purchase, then you’ll have inventory taking up real estate in your warehouse and tying precious dollars that could be have reinvested elsewhere. If you purchase too little, then you’ll miss sales opportunities by stocking out and frustrating customers in the process
Recognizing this persistent struggle for purchasing, Finale has an advanced reordering capability to assist by notifying when to create a purchase order and recommend how many units to purchase.There are two reorder methods available to assist with reordering.
Setting min/max reorder thresholds is the simplest method of inventory control reordering and is set-up with two static inputs. The “Min” value represents a stock level that triggers a reorder and the “Max” value represents a new targeted stock level following the reorder. This reordering method is ideal there product sales are predictable and for customer who want a simple configuration to assist with reordering.
For advanced reordering, Finale can be configured for restock forecasting and set dynamic reorder points based on the sales velocity and user defined fields (supplier lead time, desired safety stock, and expected sales growth) —to make smarter, faster purchasing decisions. This is ideal for customers who have product sales that are more unpredictable based on seasonality, new product launch, or other factors and want something more powerful and dynamic than static min / max thresholds to assist them with reordering.
Consolidate all sales – ecommerce, point of sale (POS), and traditional channels
With dozen of ecommerce integrations, sales orders from multiple marketplaces (e.g. eBay and Etsy) and transactions from your point of sales system (e.g. Square and Lightspeed) are automatically synced and consolidated to a central location for easy look-up. Perusing through multiple locations to find your e-commerce or POS orders will be distant memory with order management software Lastly, sales from traditional channels (telephone, fax, email) can be manually entered in Finale.
Easily allocate your stock
With the order management capability, Finale will stock required for sales does not move out the door accidentally by allocating stocks for sales orders. Powerful allocation reports allow you to quickly where the stock has been allocated to.
Quickly understand gross margins
We talk to many potential customers, and it never ceases to amaze how many of then can easily determine which sales transaction is profitable or unprofitable. With Finale’s sophisticated average unit cost algorithm, you’ll always know your product costs. Coupled with the retail price from the sales order, Finale will enable you to quickly understand the gross margins on your monthly sales, gross margin on each sales transaction, or gross margin for each product. This insight will give you visibility to make the proper pricing adjustments to achieve your desired gross margin goals.
Establish different pricing tiers for different segments
With the order management software, Finale allows companies to set-up different price points for different customer segments. If you offer different prices for your various customers’ segments, you can easily create pricing formulas for each of the price levels. Pricing formulas can simplify managing pricing levels by setting a fixed markup for all products (saving the need to manually enter a price for each product) and support sophisticated rules (such as using different markups for various combinations of product characteristics and quantity ordered).
Price levels are useful for companies who have both retail and wholesale customers.
Click here to see a quick illustrative video of this feature.
Sync your sales invoices to QuickBooks
With the order management software, avoid typing the same data in two different locations. Finale Inventory has been designed to manage your stock and integrate in real time directly with your QuickBooks / QuickBooks Online accounting system. Finale sends QuickBooks sales invoices as you ship your sales orders and create invoices.
Flexible shipping options within order management software
With the order management software, Finale provides a flexible picking and packing options to support your business. If your company has multiple warehouses, easily pick and pack products from a specific warehouse or multiple warehouses. Finale will properly track inventory levels at each location.
Every company strives to deliver every shipment in a timely manner. However, unexpected events sometimes cause a product to be out-of-stock. If one product is on backorder, there is no need to hold the entire shipment up and keep a valuable customer waiting. Finale Inventory makes it easy to ship what you have now and ship the rest when the remaining product arrives.
Distinct packing and shipping operations
Larger warehouse companies sometimes have packing and shipping as two distinct warehouse operations. Shipments and transfers leaving from the company’s warehouse may be packed into boxes and stored in specific locations days prior to leaving. For companies that want to track the boxing and packing stages, Finale’s order management software provides this functionality to allow companies the precision to see the inventory status at all times.
Customized invoices, packing slips, and bill of laden
Design multiple document layouts if you need to create the perfect document to send out with your goods, Finale Inventory lets you customize them exactly how you want them.