Accounting and Inventory are the essentials of all businesses that involves products. Even in service businesses, there is an increase requirements on managing their inventory even though it is not their core business.
So what are the criteria for inventory system that SMEs are looking for?
Integrated with Accounting
Simple fact is the SME has lesser resources. To keep 2 system, one for accounts and another for inventory simply do not work well with them. Very likely, SMEs will have lesser users, therefore the same group of people managing accounts may also manage inventory.
Small businesses with smaller pockets are definitely looking for solutions that are budget friendly. No, not cheap solutions, but within reach or affordable and value for the money spent.
Easy to adopt and user friendly
Being easy to adopt or user friendly also means it saves on time to implement and getting their users up to speed. Many with existing legacy system will require the users to relearn and adoption resistance is unavoidable. User friendliness would have bought the users into the change.
Fast and Efficient
Legacy systems depends on old way of processing which when shared through network would become very slow. Frustrations creeps in. When was the last time you went to your supplier place to collect goods and you hear the dot matrix printer zapping away and parking attendant is walking towards your car? I think you would prefer to sponsor the vendor a laser printer which could have paid for your parking fine!
Global and border-less economy has propel this requirements to the next level, coupled with work-life balance movement has brought cloud solution to the next level. But many would have forgotten that the internet link you have at home or office would be fast enough to even host your own solution within office at no additional charges. But yes, solutions should be accessible from anywhere, and preferably anytime too.
Just as mobile phones is no longer constrain to making calls and sending messages, the solutions sort after should have more features and functions than their legacy systems does.
Accounting and Inventory for SMEs in summary has to be simply incredible, affordable and accessible.
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