Businesses dealing with physical goods, especially with large quantities and without robust systems, often struggle with inventory management. To stay aligned with the latest inventory values and propose warehouse optimization recommendations, a regular data-entry process works as a standard practice. However, these manual and time-consuming systems also vouch for operational inefficiency.
To tackle operational inconveniences and inefficiencies, several businesses today are opting for NetSuite’s cloud-based accounting systems with inventory management. While maintaining two separate systems for inventory and accounting can lead to over/understocking, delayed order processing, and other costs, setting up a comprehensive cloud-based accounting system with inventory management like NetSuite, works as a cost-effective and efficient solution. Fostering product delivery, inventory evaluation, and data accuracy, the system has proven to reduce labor expenses and significantly promote customer satisfaction. All of these, eventually bearing a positive impact on profitability.
Benefits of Instituting NetSuite’s Accounting System with Inventory Management for your Business:
- Real-time inventory tracking with comprehensive views for inventory and financial management.
- 360-degree view of inventory flows with out-of-the-box and customizable analytic tools.
- Inventory integration and real-time communication with supply chain partners and data platforms.
- Cost reduction and operational efficiency in the sales and ordering process.
- Increased inventory accuracy and support for e-commerce.
- Enhanced customer service with instant data access and communication between sales and warehousing departments.
- Superior accounting capabilities for developing reports, balancing books, and setting sales reminders.
- Save time and resources on developing and managing independent internal systems.
- Adaptable and scalable with business.
Integrating your back-end accounting operations with a comprehensive inventory management system helps build greater operational efficiency and offers a major competitive advantage for a business. With an in-depth and real-time view of the company’s inventory flows and financial standing, a system like NetSuite accounting with inventory management capabilities, catapults businesses towards greater growth and profitability.
NetDynamic Consulting is a NetSuite Alliance Partner, dedicated entirely to NetSuite. With the expertise to assist in effective inventory management through NetSuite, we help businesses achieve maximum value from their NetSuite investment. Read more about us here.
To implement or manage NetSuite’s inventory management module for your business, Book a Free Consultation with our NetSuite specialists.