The innovation of technology has transformed the scenario of business around the globe. With the revolutionary change, the business leaders are looking forward to cope up with the change and implement them to increase their productivity as well as minimize the complications of day to day business operations.

Since ERP came into existence it has proved to be one of the biggest game-changer for the corporate world. As cloud ERP has entered the global market, the hassle-free ERP implementation remains a challenge for the ERP department.

The Layout for ERP Implementation

The tips mentioned below will help companies with hassle-free ERP implementation:-

(1) Know well about your challenges that you are planning to solve

Before starting ERP implementation within the organization, it is very important to know about the unique strengths of the ERP you are implementing. For the successful implementation of cloud ERP, there should be detailed documentation of business problems the ERP is expected to handle and make it easy for the organization to carry out the business operations smoothly.

(2) Get the business process document ready

Before you take a step ahead to implement the cloud ERP, have clarity about digital transformation within the organization. Make a clear map about all the business process along with the details of all stakeholders. By doing so it will help you understand the challenges that can come after the implementation of cloud ERP.

(3) Identify the customization points

It is reasonable to assume that you will need some customizations to the proposed Cloud ERP you are planning to implement. It is advisable to have a complete list of customizations outlined and agree with the implementation partner upfront to avoid derailing the cost as well as the timelines for the implementation.

(4) Choosing the right service provider

Many service providers offer ERP services at amazing prices. But before choosing the service provider you need to decide their credibility and success rate on ERP implementation. The right strategic partner will provide you the exact solution at the time of ERP enforcement as well as train employees to use various modules of ERP. Get an understanding of the hourly rates from the implementation partner in case the budgeted time gets exhausted later.

(5) Be prepared with a realistic plan

Planning is the key to the successful accomplishment of ERP. Be informed about the timelines and milestones of the projects. Keeping that in mind conduct trial runs to test their performance once they are live for execution. By doing so it will help to anticipate the delays and tune-up the configuration.

(6) Conduct User Acceptance Test (UAT) after implementation

Once ERP software is implemented, start the process for adequate testing. Ensure the business process document is met with the final ERP system. Process a few test transactions covering multiple scenarios.

(7) Fix UAT Issues

Once the UAT is done and if changes are foreseen on UAT, get the same incorporated and bifurcate them before going live. Choosing the right cloud ERP system will help you to stay aligned with the pre-defined standards of the organization.

(8) Having an ERP Champion

Depending on the no. of users in your company, you must opt either for a full-time ERP Consultant or a virtual ERP Consultant. In general human beings have been average to any change. ERP Implementation is a big change in the style of their working habits and process. They tend to have a pushback nature on this implementation. The role of an ERP Consultant is critical in addressing the user queries and ensuring that the user?s acceptability is increased.

Final Take Away

Following the above-mentioned tips can help to ensure the successful implementation of cloud ERP. The most important thing is to make sure that the final execution of ERP matches organizational goals and objectives. As cloud ERP comes into effect it will simplify your business operations as well as ensure optimum utilization of resources.

Emerge as a winner with Hassle-free ERP Implementation

TYASuite is committed to your organizational success. Plug and Play ERP Software will help you to gain remote access to cloud-based applications. Get live in just 7 days with enriched features and wide accessibility options.

 Selecting the best procurement solution for small businesses is a critical decision to ensure smoother purchasing operations, minimize costs, and build better supplier relationships. A procurement management system can optimize procurement workflows, boost transparency, and automate manual tasks that often lead to errors. In this guide, we’ll explore how to evaluate and choose the ideal procurement tools for your business’s unique needs, with a particular focus on TYASuite and how it addresses challenges faced by startups and small businesses.

Understand Your Business Needs: What to Look for in Procurement Tools

The first step in choosing the right procurement solution is identifying the unique challenges your business faces. Since every small business operates differently, a one-size-fits-all approach may not work. Before diving into Procurement platform, understanding your requirements will ensure you select a solution that matches your business growth trajectory and operational goals.

Key Procurement Challenges Small Businesses Face:

♦ Manual Procurement Processes: Many small businesses rely on outdated methods like spreadsheets, which can cause errors and inefficiencies in their procurement workflows. This is a major concern because manual tracking and approvals slow down the procurement cycle, leading to missed opportunities, delays, or incorrect orders. Implementing e-procurement for small businesses helps automate workflows, streamline processes, and reduce human error. TYASuite offers procurement automation features that simplify purchasing tasks such as purchase orders, supplier selection, and invoice approvals.

♦ Managing Multiple Suppliers: As small businesses scale, they often work with numerous suppliers. Juggling these relationships manually becomes increasingly difficult. An ideal procurement platform for small businesses includes built-in supplier management capabilities. With tools like vendor performance tracking, small businesses can easily monitor and evaluate suppliers based on timely deliveries, pricing, and product quality. TYASuite offers robust vendor management tools to help you track supplier performance and streamline communication.

♦ Lack of Purchase Order Visibility: When small businesses don't have visibility into their purchase orders, invoices, and shipments, delays and confusion are inevitable. This leads to costly miscommunications. A procurement system should provide clear, real-time tracking to ensure the process runs smoothly. TYASuite's Procurement Solution provides complete visibility into the entire order lifecycle, from initial request to final delivery, helping small businesses stay on top of their purchase orders and avoid costly delays.

♦ Compliance Requirements: Every industry has specific regulations governing procurement processes. Compliance can be complex, but a reliable procurement solution will have tools to ensure your processes are fully compliant. TYASuite includes built-in compliance features that help small businesses ensure they adhere to regulatory requirements, whether it's for tax purposes, environmental regulations, or supplier diversity.

By understanding these common challenges, you can identify which features your business specifically needs, thus enabling you to pick the right procurement solution for small business growth.

Budgeting for Your Procurement Solution: How to Choose Affordable Procurement Tools

While choosing the best procurement solution is essential, small businesses must also keep their budgets in mind. Striking the correct balance between cost-effectiveness and usefulness is essential.. The most suitable procurement tools for startups should offer essential features without stretching your financial resources.

Factors Affecting the Cost of Procurement Tools:

♦ Pricing Models: Most modern procurement systems use a subscription-based pricing model, which provides businesses with flexibility and scalability. This model enables small businesses to pay based on their usage, reducing upfront costs. TYASuite, for example, offers flexible subscription pricing that scales with your business’s growth, so you’re not paying for features you don’t need at the outset.

♦ Training and Support Costs: Some procurement Tools providers offer free training, while others may charge extra. Training costs should be factored into your budget if the software is complex. If you're a small business with a limited budget, consider systems like TYASuite that offer comprehensive training materials and customer support at no additional cost.

♦ Additional Fees: Many systems charge extra for advanced features or integrations with third-party tools like accounting software or ERPs. Ensure you inquire about any hidden fees upfront so there are no surprises later. TYASuite provides clear, transparent pricing without hidden charges, so you always know what you're paying for.

By taking into account the overall costs, including subscriptions, training, and potential add-ons, you can select a solution that fits within your budget.

Must-Have Features in Procurement Tools for Small Business Success

When selecting a procurement solution for small businesses, it’s important to focus on functionality. The best procurement tools will combine essential features that increase productivity, ensure cost efficiency, and help you manage procurement in compliance with industry standards.

Core Features to Look for in Procurement Tools: 

♦ Procurement Automation: One of the most critical features of a Procurement platform for entrepreneurs is automation. Automating tasks like purchase orders, invoice approvals, and requisitions reduces the time spent on manual processes and helps eliminate errors. Tools like TYASuite’s procurement automation features allow businesses to streamline these daily tasks, enabling you to focus more on strategy and growth.

♦ Vendor Management: An effective procurement system will include tools for managing suppliers. This includes tracking performance, ensuring quality, monitoring contract compliance, and maintaining strong relationships. TYASuite’s vendor management tools make it easy to manage these relationships efficiently, helping you assess supplier performance and negotiate better deals.

♦ Spend Analytics and Reporting: Understanding your expenses is critical for controlling procurement costs. Analytics tools within procurement systems allow you to see where your money is being spent, helping you make informed decisions and optimize budgets. TYASuite offers advanced spend analytics features that provide real-time data and insights into your procurement activities, ensuring that you stay within budget.

♦ System Integration: A good E-procurement should integrate smoothly with other business tools, like ERP systems or accounting software, ensuring seamless data flow across departments. TYASuite integrates well with various platforms, providing consistency and ensuring that your procurement, finance, and inventory systems work together seamlessly.

♦ Mobile Access: Cloud-based E-procurement systems allow your team to manage procurement processes from anywhere. If your small business has remote workers or frequently operates from different locations, mobile access is a must. TYASuite’s mobile-enabled system ensures that your team can manage procurement tasks on the go, giving them flexibility while maintaining full control over spending.

By selecting a system that includes these features, you can ensure that your business operates more efficiently and effectively.

Comparing Procurement Systems: Finding the Best Fit for Your Business

After identifying your business's needs and budgeting, the next step is to evaluate different procurement solutions. Comparing tools based on various critical factors will help you make an informed decision.

Key Comparison Factors:

♦ Ease of Use: A procurement solution should have an intuitive interface that minimizes the learning curve for your team. The easier it is to use, the faster your employees will adopt the tool. TYASuite boasts a user-friendly interface that allows businesses to quickly get up to speed without extensive training.

♦ Scalability: As your firm grows, so will your buying demands.. A system that can scale with your business is vital. We offers scalable solutions that grow with your business, allowing you to add new users, suppliers, and transactions without the need for a new system.

♦ Security Features: Since procurement systems deal with sensitive business data, security is a major consideration. Look for features like encryption, multi-factor authentication, and secure cloud storage to protect your data. TYASuite prioritizes security with its advanced encryption and robust data protection features.

♦ Cloud-based vs. On-Premise: Cloud-based solutions offer flexibility and remote access, while on-premise systems give you more control over customization and security. Small businesses with limited IT resources may prefer a cloud-based solution like TYASuite, which is easier to implement and offers remote access.

♦ Customer Support and Training: After choosing a procurement system, you will need support during implementation and troubleshooting. Ensure that the software vendor offers comprehensive training, guides, and responsive customer support. We provides 24/7 support and thorough training resources to ensure smooth implementation and operation.

By comparing different tools based on these factors, you can select the procurement platform that aligns best with your small business's needs.

Testing Procurement Software: Why You Should Try a Demo

A demo or free trial is a great way to assess whether a procurement system suits your business needs. Testing out a tool firsthand gives you the chance to experience its features, usability, and compatibility before committing to a long-term contract.

What to Test During a Procurement Software Demo:

♦ Workflow Automation: During the demo, test the system’s ability to automate key tasks like generating purchase orders and approving invoices. This will help you understand how much time automation will save and whether the system’s automation tools meet your needs.

♦ User Interface (UI): Evaluate the UI to ensure it is intuitive and easy to use. A clean and simple interface will make it easier for your team to adapt to the new system.

♦ Mobile Compatibility: If your team works remotely or frequently travels, test how the system works on mobile devices. TYASuite’s mobile application allows your team to stay connected and manage procurement tasks anytime, anywhere.

♦ Integration: Ensure that the software integrates smoothly with other business tools like accounting software, ERP systems, or CRM tools.

Testing the software through a demo allows you to make a more informed decision about whether the solution fits your business needs.

Ready to see how TYASuite can transform your procurement process? Try our free TYASuite demo today! Experience the power of streamlined procurement workflows, effortless supplier management, and seamless integration. Contact us now to schedule your personalized demo and take the first step toward optimizing your business operations.

Reading Reviews and Case Studies: What Others Are Saying About Procurement Software

Customer reviews and case studies offer valuable insights into how a procurement system performs in real-world situations. These resources help you understand the strengths and weaknesses of a solution.

Where to Find Reliable Reviews:

♦ Third-Party Review Sites: Platforms like Capterra, G2, and Trustpilot offer unbiased reviews from businesses in similar industries.

♦ Vendor Case Studies: Many providers, like TYASuite, publish success stories showcasing how businesses have improved efficiency and reduced costs using their solutions.

Support and Training: Ensuring Successful Software Implementation

Once you’ve chosen your procurement platform, training your team is essential. Make sure the provider offers comprehensive training materials and responsive customer support to help your team navigate the new system effectively.

Support Resources to Look For:

♦ Training Materials: Ensure that your vendor offers training resources such as video tutorials, webinars, and user manuals to support your team.

♦ Customer Support: Opt for vendors that provide responsive, 24/7 customer support to assist with any issues or questions that may arise during implementation.

Conclusion 

Choosing the right procurement Solution is crucial for the long-term success of your small business. By understanding your business needs, budgeting appropriately, evaluating features, and selecting the right solution, you can streamline procurement processes, improve efficiency, and foster better relationships with suppliers. With the right tool like TYASuite, your business will be well-equipped to scale and succeed. 

Introduction

For successful implementation and running of the business, ERP is known as the stepping stones behind the running of every successful enterprise. Right from startup to a company with a turnover of billions the ERP’s have to revitalize the systems to provide hassle-free and seamless business operations.

The ERP software integrates and automates financial and operational business functions and provides a single source of data which includes inventory, Customer orders, supply chain management and many more. This will help in the procurement, production, and fulfillment of the sources efficiently. AsERP solutions have come into existence it has reduced the business complexity by a higher margin as well as save the company’s resources to streamline business operations within the company.

The Contribution of Cloud ERP in the Organization

Using Cloud ERP is quite easy as it gives you the flexibility to Plug and Play ERP as per the demand of the business operations.

The points mentioned below explain the contribution of ERP within the organization.

(1) Helps in decreasing the operational costs

Switching to cloud ERP has emerged as one of the best options for organizations to get maximum output from the limited resources. The Customized Cloud ERP helps to reduce the cost of inventory and other types of resources being used by the company.

(2) Helps to Enhance the Business Reporting

The implementation of ERP helps to enhance the business reporting with real-time stats to a main consistent flow of the business operations within the company. Cloud ERP has got an integrated database to address all types of business processes.

(3) Provides a high competitive advantage

As a majority of company tries switch to ERP, this software has given good competitive advantages to a vast number of organizations to compete with their rivals in the global market.

(4) Highly Scalable

Cloud services can easily be scaled up as per the requirements of the business. As the enterprises opt for Cloud ERP they can easily scale up and scale down the cloud services as per the requirements of the organization.

(5) Increases productivity

The implementation of ERP helps you to increase productivity by a higher margin. In the case of tedious tasks often there is a delay in production which can affect your business and even the clients can face trouble. ERP helps to give a break to the business from long and complicated tasks allowing the business owners to shift their focus to some other tasks.

The Final Thoughts

As organizations are growing at a faster pace, the Cloud ERP has proved themselves as a boon for companies. The cost control and transparency in the hassle-free implementation is the main highlight of the ERP. It is the best option to get ahead of your competitors globally as well as make your presence felt in the global market.

Still confused! Get in touch with TYASuite to book free demo for Plug and Play ERP software to boost up your business efficiency and explore the endless world of opportunities.

Feel free to speak to us on +91 80 4133 0620, +91 80 4153 0620 or write to us on info@tyasuite.com.

There is worldwide shift in organizations progressing from traditional solutions to cloud-based automation. Covid-19 Pandemic has accelerated the adoption where even SMEs are looking for Cloud ERPs.

India has emerged as SaaS Hub and able to compete with Silicon Valley in SaaS innovation.

The one organization helping numerous SMEs extend their impression is TYASuite Software Solutions Private Limited.

The company was established by Vikas Mandawewala and Praveen Dokania in 2018. TYASuite Plug & Play ERP Software is equipped with modest technology to the real-time business problems across industries.

Vikas Mandawewala is a veteran finance expert. TYA Group had an unassuming start ? beginning as a financial and accounting firm in 2013, alongside one representative. With time TYA Group has developed consistently, diversifying its extent of services and wandering into the IT domain, arriving at more than 150 staffs and operations over many big cities and communities.

Introducing the Co-Founder - Vikas Mandawewala

Vikas holds more than 20 years of experience in the finance and accounting domain. He had a staggering corporate profession in India and the United States with KPMG for more than seven years. Vikas has been the fastest promoted individual and the youngest Senior Manager at the most significant worldwide auditing and advisory association - KPMG. After his journey with KPMG, he established a little financial consulting business with only two individuals and scaled it to more than 100 staff with a pan India presence. Vikas is presently managing the finance department of numerous SMEs as their Virtual CFO. Being the exemplification of commitment and polished skill, Vikas imagines the improvement of finance and accounting using modern technologies.

In 2018, Praveen Dokania, a tech-virtuoso, joined Vikas, and they established TYASuite ? a venture seeking to lead the change in modern-day cloud ERP innovation.

A Duo-Journey with Praveen Dokania

Praveen is holding 10+ years of expertise in software and technology. Praveen is skilled in project management and software development equipped with the modern technology of back-end and front-end processes. He has widespread skills in database administration, app development, server management, and IT development consulting. He is specialized in building applications and software. He also has excellent knowledge of SEO and SMO operations for huge online portals. Praveen is the foundation of tech-operation at TYASuite.

As per Vikas, TYASuite is "the consequence of the desire and enthusiasm of a finance veteran to change how organizations run their business and enhance the lives of business experts across the world. Most individuals are tormented by redundancy and duplicity of data, repetitive and exhausting tasks that hamper their efficiency and productivity."

In light of that objective, TYASuite has developed to turn into an on a single solution for businesses, as a No. 1 plug and play cloud ERP software to digitalize and automate their business processes.

TYASuite?s Plug & Play ERP at a Glance

The TYASuite Cloud ERP is a coordinated and unified platform that helps you monitor, manage, and execute all your business capacities from one place with one single data source, interactive dashboards, and vigorous reporting tools. Our cloud ERP software solution incorporates separate integrated modules to deal with consistently ?

1. Procurement Software

The Procurement Software is the key to enabling and sustaining broader procurement value thereby eliminating many manual blunders. This plug and play ERP Software is intended to streamline your organization's procurement cycle through integration and automation of each progression into one simple, controlled, and tracked stream.

2. Asset Management Software

The Asset Management Software permits your organization to improve your spending on assets and expand your return-on-investment out of the current and future investments. By guaranteeing the best possible usage and maintenance of your assets, you can benefit from them regarding profitability and productivity.

3. Inventory Management Software

The Inventory Management Software helps you plan, screen, and deal with your inventory with full oversight and real-time visibility. With full integration with the P2P module, tracking tools and digital archival, streamlined warehousing, and progressed integration abilities with external platforms, the TYASuite Inventory Management Software helps you build and keep up a simplified inventory solution.

4. Finance and Accounting Software

Enable your accounting experts with the TYASuite Finance and Accounting software to augment their capability and help them understand their maximum capacity. Finance and accounting include numerous dull and humble tasks that must be done accurately. With the TYASuite Finance and Accounting module, streamline your transactions and financial data management to guarantee no-error.

5. Sales Order Management Software

TYASuite Sales Order Management Software helps you in establishing your organization's sales processing by incorporating and simplifying each progression of the sales cycle. TYASuite plug and play cloud ERP software can give you a competitive edge by increasing up the speed of all your traditional process by instantly capturing all incoming order documents and extracting order information, by allocating stock for customer orders thereby managing drop shipments from vendors.

6. Vendor Management Software

TYASuite Vendor Management Software is an excellent solution for all your vendor management prerequisites. Incorporated with our P2P and Inventory Management modules, the TYASuite Vendor Management suite will permit multi-level processes for vendor evaluation, acquisition, on boarding, negotiation, evaluation, and performance tracking with automated tools.

7. Production Management Software

TYASuite Production Management Software is an advanced production management platform. Combined with advanced inventory management, the TYASuite Production Management suite will permit multiple BOMs, manage multiple operations, process. Managing the production cost has never been so easy.

8. Project Management Software

TYASuite Project Management Software helps you consistently plan, manage, monitor, and execute projects and tasks from one integrated and unified platform. Handle tasks easily with multi-level admittance from a smartphone application, and guarantee full feature with minimal human reliance and full automation.

9. Compliance Management Software

The cloud based plug and play Compliance Management Software is full governance, risk, and compliance tool to guarantee efficiency and diligence in following the horde statutes, guidelines, and compliance prerequisites vital for a business to survive in the cutting edge market.

10. CRM

The TYASuite Customer Relationship Management module is intended to enhance your communication with your past, present, and future clients. Coordinated with our other modules, it empowers you to keep up a unified client directory, simplify your client communication, and automates your client acquisition, maintenance, and relationship management.

TYASuite is a multi-featured Cloud ERP Software where customers can work efficiently with the business to provide the flexibility of auto-scaling as the business expands.

Who can be benefitted?

1. Enterprises that expect scalability in their business operation
2. Enterprises that expect to have a big pool of workforce
3. Enterprises that expects a very effortless solution at a minimal cost
4. Enterprises that expect simplified automation for non-value added procedures

The key focus areas of TYASuite depend on the most reasonable cloud-ERP software in the world. This can be integrated into the customer?s business with more than 2000 plug and play feature.

Growing Through Positivity

Vikas belongs to a middle-class family from Bihar. He has faced a lot of tough times in his journey. But, he had a positive standpoint and accepted that challenges and difficulties make one stronger and more proficient. Discussing his career, Vikas was in the United States for around 5 years where he was working 35 hours a week. But, after he came back to India, he had adjusted his working time from 60 to 70 hours a week. This change has really made him capable of handling anything and everything in a professional manner.

Vikas began scaling a consulting firm from 1 individual to 120 employees in a limited ability to focus. This was for sure a big challenge while simultaneously it made him adept enough to handle all the issues all alone.

Today, he imagines himself and his organization to turn into the World's first Plug and Play Cloud ERP platform. He is moving in the direction of getting perceived as one of the most demanded Cloud ERP solutions in the world which are overwhelmed by Oracle, NetSuite, Microsoft Dynamics 365, and SAP.

Being a start-up, TYASuite is searching for alternatives to raise capital through external investments to grow its marketing and technical abilities. Vikas believes this will drive the financial specialists who can see the capability of the market with a scalable and gainful business model.

As businesses have now shifted to remote work, the requirement for centralized vendor data turned out to be an important factor. Data living in somebody's mind, a file folder, on an email or even excel spreadsheet, was tough to access and share. In an emergency, certain bits of data become essential and most of it was lost during the retrieval process. To manage the data properly, vendor management software is essential for businesses.

In the previous decade, the attention on vendor risk has expanded colossally. Most big businesses have broad projects to survey the sorts of data managed by or accessed by vendors because of GDPR and other data security rules, and makes sure to have this data readily at hand. A few businesses include operational and administrative compliance requirements, and most associations are effectively dealing with their vendor contracts.

What vendor data do you want?

You ought to effectively have the option to put your hands on these components for the entirety of your vital and frequently-utilized vendors:

1. Valid company name
2. Website
3. Business address
4. Primary phone number
5. Name of Account Manager, his phone number, and email ID
6. Billing contact name, email ID, and mobile number

Businesses should have a clear notion of which vendor is during what and whether the vendors they are working with possess any threat to the company. They should list out the vendors who have more critical information about the company and who have less sensitive information about the company. The ones which have more information should be handled properly and precisely as they tend to pose a greater threat to the working of the company than the ones which have less data.

Why it is tough to get vendor data?

Endless departments interact with vendors. Business lines understand their salesmen, but frequently don't approach or incentive to refresh procurement or AP frameworks. Security keeps their contacts but does reviews yearly or less regularly, and may depend on the business line or procurement to give contacts. Accounts payable take into consideration that they can get invoices and send payments, so they normally have organization data but not the person’s personal data.

It is also a common practice that vendors work with a number of business houses and vice versa. To work them all the businesses, many vendors provide different or incomplete information to the companies and therefore it becomes one of the main reasons as to why it is tough to gather vendor data. Also the data procured by these companies tend to be processes on an annual basis which leads to such a problem. Occasionally, a centralized repository doesn't exist to monitor the changes in contact details.

Reasons why the vendor data management is being ignored?

Each significant business battle to keep up a basic address book of essential contacts at their significant vendors. The worst part of it is that it can't create a list of telephone numbers and email IDs to connect in case of a crisis. Every business house deals with a number of vendors simultaneously and this creates a havoc. Companies tent to change their business vendors according to their requirement and therefore they find it unnecessary to store the vendor data and mainly decide to ignore it. They believe it to be a tedious task and a time wasting part of the job. Hence, they decide to ignore or halt the vendor data management to the maximum time limit they can. To overcome these problem businesses should invest in powerful vendor management software so they do not ignore or miscalculate the vendor data.

Wrapping Up

TYASuite is an award-winning and India’s No. 1 plug & play ERP that can help you boost your business performance and maximize your overall productivity. We have an efficient vendor management software module to help you automate and streamline your business process and give you real-time visibility of your sales and vendors. We also provide other modules to increase the overall execution of your enterprise. Our modules include Sales & Distribution Management Software, Inventory Management Software, Compliance Management Software, Procurement Software, Project Management Software and CRM. What are you still waiting for? Let’s digitize your business with TYASuite – the one and only plug and play Cloud ERP Software to help you grow.

Inventory management is a decent practice for any organization. If you are not watching out for your inventory or checking stock consistently, you are setting yourself up for significant inventory errors and difficulties. Proper inventory management truly can make or break your business!

Let’s take a look at the top 10 reasons to digitize your inventory management system:

1. More Precise Ordering

This may appear glaringly evident but its significance couldn't be overstated. The items you purchase and put on the rack is probably the greatest investment that you make in your business. How might you know what to order and keep on your racks if you don't have the foggiest idea what you hold? Regardless of whether you are physically making orders, utilizing our recommended ordering, or a blend of the two, you have to recognize what you have so you will know what you want.

2. Customer Service

Ever approach a store agent for your preferred item and watch them bungle around, running from the rack to the warehouse while you persistently hang tight for them to make sense of it? Having an exact inventory in your retail management framework disposes of this issue. Your staff can rapidly and effectively tell your consumers whether you have an item available right from the point of sale. The correct system can even reveal to them where to discover it.

3. Vendor Management

Best case scenario, our providers can be genuine partners, helping us to expand our sales and deal with our inventory all the more successfully so we evolve together. Even from a pessimistic standpoint, they short ship, add on additional things, and send us expired or damaged items. Utilizing our purchasing and receiving software as part of your inventory management cycle will guarantee that you are getting precisely what you requested and can undoubtedly track and react to those times that you don't.

4. Employee Efficiency

Your employees have better things they can be doing than looking for an item and physically receiving. Enable your staff to give the extraordinary customer support you presumably recruited them for by giving them the tools they have to precisely handle inventory as proficiently as possible. Investing the time to follow your inventory adequately will make ordering, accepting, and that dreaded year-end inventory tallies a breeze. Working with the correct partner will make this process accurate, efficient, and productive.

5. Avoid Expired Product

There's nothing more terrible than a discount item since it's drawing near to its expiry date. Powerful inventory management will help you to identify old dated and expiring items. Effortlessly run a report to recognize what might be moving toward its expiry date and ensure that you're promoting adequately to get it out the entryway before you are compelled to stamp it down or write it off.

6. Avoid Damaged Product

The more extended an item sits on the rack the more probable it is to get a knock, dropped, and harmed. Cloud ERP Inventory management cycle checking helps to identify sluggish things so that you can blow them out to make space for items that will be helpful in selling. Having a cycle for following your expired or returned item is a significant part of inventory management. This will permit you to identify trends and patterns that are costing you money.

7. Cost & Margin Control

We understand that inventory is perhaps the greatest investment that we make in our business. You wouldn't invest in the financial exchange without knowing what amount your stocks are worth and what your return is, would you? Appropriately utilizing an inventory management framework will give you the control you have to amplify benefit while identifying trouble spots. More developed frameworks permit you to all the more precisely track inventory an incentive on a FIFO (First In, First Out) premise while accounting for limited time expenses and vendor discounts. Precise inventory cost can likewise be figured into recommended ordering. Least stock levels can be set dependent on inventory cost to guarantee that your frameworks are recommending you re-order low turnover products as long as their cost falls inside an adequate limit.

8. Loss Prevention

Nobody needs to consider this but as indicated by the National Retail Security Survey inventory loss is around 2% of sales. In case your store does $1M in sales every year that is approx. $20,000 vanishing from your bottom line. Inventory recoil occurs in various manners that Inventory Management will lower. Shoplifting, employee theft, paperwork blunders, and vendor fraud are the main sources of shrink. These problems are completely addressed with powerful Inventory Management frameworks. The number will not be zero but innovation can help you get your inventory loss as near it as could be expected under the circumstances.

9. Cash Flow

We love working with independent companies and SMEs. One of the most significant issues for SMEs to oversee is cash flow and this might be the most significant advantage of a viable Inventory Management framework. Our software will legitimately influence your cash flow by helping you to evaluate your inventory investment and boost inventory turnover to enhanced cash flow, increment margins, improve sales, decline shrink, enhance client support and improve staff proficiency.

10. Knowledge is Power

Our clients are experts in what they do. Regardless of whether they are prompting a patient on drug interactions, recommending the best cut of meat, choosing the ideal tomato, or finding the correct solution for a health problem, they are pioneers in their industry. Our reporting and investigation solutions are only here to fortify their experience, insight, expertise, and gut intuition to help them settle on choices to enhance their business. Online dashboard detailing and investigation are incredible but just if there is exact data to cover. Having the correct tools for inventory management will guarantee that you can settle on choices dependent on the most ideal information.

EndNote

A robust inventory management tool can help an organization to swiftly take benefit of the changing market needs at low prices. We at TYASuite always thrive our best to cater to the ideal experience you can have in the business with affordable Inventory Management Software.

Try TYASuite plug and play Inventory Management software which offers you the right services at reasonable prices. Grab our FREE DEMO version now!