How are enterprises benefiting from cloud-based stock inventory management system?

‘Cloud’ is not a new word for modern businesses. Most of the enterprises are using cloud-based systems for some or the other purpose. And they have uncovered great benefits from this splendid technology. It has helped the businesses to grow their potential without a substantial investment as compared to the old legacy systems. Also, the ease offered by cloud service has made it increasingly popular.

One of the major aspects of the business is managing the stock and inventory. Nobody can deny that it is not easy to handle those figures of quantity and availability scenarios. With the dynamic demands, it is more difficult to keep a close watch on the product stock. It is necessary to maintain a clear picture of the available products, the expense to maintain them, the location of the stock, reorder requirements and utilisation to ensure optimal inventory levels.

If you are still wondering that you can progress with the use of traditional paper-based methods or less sophisticated techniques like Spreadsheets, then you need to wake up! The world has travelled far from those days. It is not a wise thing to rely on your guesswork or such labour-intensive approaches. So, it is the time to reconsider your conventional methods and replace them with the new-age inventory management system.

The cloud-based stock inventory management system helps a business to keep a track of all the products with complete visibility and greater control. Moving your stock to the cloud is a no-brainer. Incorporating cloud inventory management system reduces manual workload and allows you to focus on achieving productivity and customer satisfaction. As a matter of fact, it costs lesser to operate than other hosted systems or licensed software.   

In a nutshell, the cloud inventory management system will help you overcome all the challenges. It’s not imaginary, it’s real and it’s meant to solve the problems of small to medium sized enterprises. Every now and then, one may have certain questions like when to restock certain products? What will be the estimated demand for the next quarter? What are the costs to manage unused products? How to reduce the operational expenditure? How to keep a track of the stock within different departments?

A sophisticated inventory management system is the answer to all such questions. It stores the stock information in a secured centralised manner. The authorised users are allowed to access product data according to the rights. And the best part is they can access it from anywhere and anytime without any hardware dependency! In addition to that, there is no extra cost of infrastructure or specialised IT department to operate this inventory management system.

Expect the software to scale as your business grows. It fits in the changing requirements of the enterprise and offers greater scalability and flexibility. Since you only need to pay for the features as needed by your organisation, it is cost-effective. It is possible to customise the software to match your exact business processes, making it uncomplicated to use. Also, there is no obligation of updating the software as your provider does it all for you!

Restructuring your stock handling with cloud inventory management system lets you enjoy following advantages-

Knowing such great benefits of cloud inventory management system will definitely want you to implement it at the earliest! Here comes one more plus point of using this software- it takes no time to get the ball rolling. Since it requires no CAPEX (capital expenditure), you begin using it as and when you choose your service provider.

Neither does it require any hard-core exceptional training nor does it take any experts to get your team using it. It can be easily integrated with your existing systems like CRM software, accounting software, etc. Plan your requirements and communicate them to the cloud service provider. They’ll help you set up and provide support at every stage.

Irrespective of your multiple warehouses at various locations, it allows managing the inventory with the single source of truth. With the Internet connection on your device and the access rights, you’re ready to manage the entire stock inventory on-the-go, reorder the empty or missing stock, real-time visibility, track the asset or product serial number and monitor the growth of business with advanced reports.  

Still confused?

If you have got any queries or would like to have a detailed discussion with our experts, then feel free to contact us or request a consultation with the online demo. We’d be happy to help in supplying a solution that would go perfectly with your business requirements!