The best way to make your small business successful is to implement efficient inventory management software. These tools will help you find out the size of orders, track backup and store distribution, allow you to restock and set prices, and do all the other things you need to run a small business smoothly.
A smaller company that does not require an in-depth inventory management program with detailed reports has many different software to use. Below you can find the list of best inventory management software for small business available on the market with its pros and cons.
Our Top 5 Inventory Management Software For Small Businesses
Inventory Management Software For Small Businesses Reviews
1. Best Overall: Zoho Inventory
If you’re a small business looking for an affordable way to manage your inventory, the Zoho Inventory app is just what the doctor ordered.
This is a business management suite that allows companies to organize, track, and analyze inventory levels. The cloud-based inventory software enables small businesses to store inventory data in one place, plus track everything from purchase orders to storeroom activities. Zoho Inventory app also lets you create a personalized dashboard for viewing real-time information on the management of your business.
Zoho Inventory Features
- Track inventory on multiple units and in various categories
- Receive notifications when reordering is required
- Automatically generate order numbers based on date or customer name
- Quickly find products with a powerful search function that can search by product, category, or vendor name
- Keep track of sales with reports that will show you sales by individual items, date range, customer name, and more
- Get a snapshot of your total inventory and your needs in one place.
Pricing Plans
- Free – €0.
- Standard – €59.
- Professional – €99.
- Premium – €159.
- Elite – €239.
2. Best Easy-to-Use: Xero
The need for small business inventory managers can seem like a daunting task. It can be challenging to track and organize your inventory when you don’t have software that does it for you. If you are looking for an easy-to-use, user-friendly system that will help keep your inventory organized, Xero is what you need.
Here are just a few of the features of this amazing software:
- Easy installation and setup.
- Multiple users: All parties with access to the account have secure credentials which allow them to view or update their items in the system.
- Item tracking.
- Automated invoicing.
- Business Intelligence.
- Cash-flow forecasting and cost tracking.
- Data importing and exporting options.
- Reports and reports organizing.
- Web-based access, including mobile device access.
Pricing Plans
- Early – $11.
- Growing – $32.
- Established – $62.
All Plans Include
- Send invoices and quotes.
- Enter bills.
- Reconcile bank transactions.
- Capture bills and receipts with Hubdoc
- Bulk reconcile transactions.
- Use multiple currencies.
- Track projects.
- Claim expenses.
3. Best Customer Support: QuickBooks Online
QuickBooks Online is a versatile and highly intuitive inventory and point-of-sale software. It helps small businesses manage their invoices, inventory, and accounts payable to improve productivity. Using it, you can track customer payments and prepare sales tax reports.
It also has an expansive set of sophisticated features for sophisticated small businesses like multi-currency management, customer notes, recurring transactions, quotes quickly from memory, and much more.
QuickBooks Online Features
Multi-Currency Support
QuickBooks Online works in multiple currencies. You can categorize your transactions into different currencies. QuickBooks Online shows all transaction details on one screen; it also offers several choices to display your accounts in hierarchical or flat format. The program provides additional options to view the transaction as a percentage of the total sales, payees in the currency of payment, and even display them on a graph.
Real-Time Business Insights
The software has a dashboard for managing all business activities. The dashboard provides key details, such as profit and loss, current sales and future projections, the number of unpaid invoices, and much more. You can see the complete picture in minutes to track your business growth.
Sales And Inventory Management
QuickBooks Online handles inventory items with ease. This feature lets you track your inventory levels by date or location at any time. It also supports many inventory items like services as well as products. You can view the sales by product Category or customer in each invoice, using its powerful sales reports to access data quickly.
Pricing Plans
- Plus – $ 35/mo.
- Advanced – $ 75/mo.
4. Best Barcode-Based Inventory Software: inFlow Cloud
InFlow Cloud is a software application that was created to provide small businesses with inventory management services. This program was designed for online business owners and retailers who offer a wide range of products. InFlow Cloud provides the ability to track stock changes, manage inventories, and provide customers with information about availability and pricing.
It can also be used by consumers who have difficulty finding certain items at retail stores, making it ideal for those looking to do price comparisons or research online. You can also create custom reports that include graphs, pie charts, tables, and bar graphs when you need to present information visually.
The program is compatible with both Android and iPhones, but it also includes an app available for i-pad users. In addition to a PC, it can be used on an iPad.
InFlow Cloud offers a plethora of features that the average user will appreciate. The product is compatible with smartphone devices, so those who have iPhones or Android smartphones will find this application convenient. It can process the data faster than some of its competitors because it can provide real-time inventory information using GPS technology.
5. Best for Specialty Shops: Lightspeed
LightSpeed is a complete inventory management software for small businesses. It features a web-based inventory app that allows you to manage your inventory, scan barcodes, and use the mobile device’s camera to barcode items as they are added or as they move throughout your store. This makes updating your inventory easy and painless.
This software has many features to help you grow your small business. You can track products as they are made or acquired, add notes and file photos along with each product to help you keep track of any information that is important to your business. You can use the simple reporting feature to view charts and reports, and even create custom queries to view specific information.
The program also allows you to view all of your inventory information from anywhere. You can view the full list of products that you have, or track specific items with one click. Never get lost in your store again because you are not on inventory duty! You can also use the web-based app on any device using a standard web browser and Internet connection.
LightSpeed has many features to help your business grow. Add products as they are made or acquired; the system will automatically record those items in the system as soon as they are created or acquired so that you do not have to manually add them yourself.
Pricing Plans
- Basic – $69/mo.
- Starter – $99/mo.
- Standard – $119/mo.
- Advanced – $169/mo.
- Pro – $229/mo.
Buyer’s Guide
The right inventory management software will streamline your business, help you manage orders and inventory, and make your work more efficient. Save money by purchasing the right tool for the job.
A simple application might be enough for companies with only a few thousand items in stock. The application should allow you to track sales, create orders and purchase, restock inventory at any time and set prices to meet demand.
Inventory management software can take time away from important tasks like managing sales and dealing with orders. Save yourself the hassle of entering item details one by one into a spreadsheet. In this guide, you’ll explore inventory management software benefits and also learn tips and considerations on how to choose the right system for your business.
What Is Inventory Management Software For Small Businesses?
Inventory management software helps you to keep track of stock, manage sales and orders, and automate tasks. This is not only useful for small businesses, but also for large companies with multiple branches.
Automation allows you to concentrate on other pressing matters rather than spending hours on mundane tasks like managing items in inventory. A good inventory management system prevents mistakes and reduces the chances of missing orders and saving time spent on other essential things.
The best way to use inventory management software effectively is to equip yourself with knowledge before deciding which system is best for your business.
Benefits Of Inventory Management Software For Small Businesses
The process of buying inventory for a small business can be complicated. You spend most of your time finding the right items and bargaining for the best price. If you are looking to invest in a small inventory system, the software can do most of the work for you. Some basic features include:
Database
The inventory management program should have a comprehensive database of items and their detailed descriptions.
Barcode Label
This is an important component of any inventory management software. The barcode label allows the inventory system to scan items and prices directly from the label.
Search Feature
This makes it easy for customers to search for specific products or vendors within the database and allows you to maintain accurate records of sales and profit margins without missing anything.
Intuitive Interface
This should make it easy for users to navigate all parts of the stock management system, especially for beginners. While more complex systems are more powerful, they might not be suitable for novice users.
How To Choose Inventory Management Software For Small Businesses
While choosing inventory management software you should consider some essential things.
Software Type
If you still have to add items, it will be easier to purchase an inventory management software package with no additional investment. If you already have barcodes and an extensive database list, it would be most efficient if you built your own system from scratch.
Choose The Package
Check the features of the different packages and decide on what is most important to your business. Picking simple inventory management software with only a few functions might save money, but having more features will make your work less tedious and help turn a profit sooner.
Set Software Goals
Make sure that the inventory management tool can handle all the tasks that you need to perform such as managing customer orders and tracking sales. The more functions a package has, the more features you will have to learn.
FAQ
What Is The Best Inventory Software For Small Business?
The best inventory software for small business is something like QuickBooks, which is a type of accounting software that helps you set up an inventory system and track your business’s financial and sales information.
Is Quickbooks Good For Inventory Management?
QuickBooks is designed specifically for individuals and small businesses. It does this by providing a simple process for tracking inventory, bookkeeping, generating sales orders, and other related tasks. QuickBooks also offers the ability to export your data to create excel spreadsheets or print statements.
Which Software Is Used For Inventory Management?
The best software for inventory management is InventoryLab. It will allow you to track the inventory in your warehouse and manage the inventory on your retail floor. Select from various reports to track your sales, orders, and deliveries while ensuring that all of your goods are accounted for. Make use of the security features when keeping records of valuable assets or items that need delicate handling.
