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12 Min. Read

8 Best Inventory Management Software for Small Businesses

8 Best Inventory Management Software for Small Businesses

Inventory management software is the backbone of the most powerful inventory management systems. And there are thousands of options out there for you to choose from.

So how do you know which software is best for your business today?

Inventory management software is usually made with specific niches in mind. This means the best software for your business depends on your unique business needs.

The right software will streamline everyday operations and give you valuable insight. It'll do this while ensuring you’re not paying extra for functionality your business doesn’t need.

To help you choose the right software, we’ll introduce you to the 8 best inventory management software along with a detailed analysis.

Here’s What We’ll Cover:

  1. FreshBooks

  2. Zoho Inventory

  3. Veeqo

  4. Sortly

  5. Brightpearl

  6. InFlow Inventory

  7. Netsuite

  8. Cin7

    Questions to Ask When Buying Inventory Management Software

    Choosing the Best Inventory Management Software

    More Resources on Small Business Accounting

1. FreshBooks

Although known for being an accounting system and software, FreshBooks also offers simple inventory tracking for freelancers and small businesses with very basic needs.

Whether you sell only a handful of different items or are looking to start selling physical items on top of your service business, managing even small amounts of inventory takes effort. Especially if you sell across 2+ sales channels.

FreshBooks is the perfect solution for tracking inventory if you also use it for accounting purposes.

FreshBooks seamlessly integrates with 2ship and Barcloud to bring together your inventory tracking, accounting, shipping, and asset management needs. And if you’re already tracking inventory on Squarespace or Shopify, you can automatically pull in data from those sites into FreshBooks for an even better inventory management experience.

FreshBooks is the best solution for those looking to experience the power of inventory tracking software for the first time. It's also a good solution for those still wondering if inventory software is for them.

2. Zoho Inventory

Zoho Inventory is a popular small business pick for businesses with multi-channel selling needs. It supports integration with popular platforms, including Shopify and Amazon. This allows you to sync data across sales channels for easier management of stock levels and inventory costs.

The platform also has most of the basic inventory management software features. This makes it a great pick for small businesses with simple inventory needs.

Basic inventory management software features include :

  • Inventory control software: Inventory control software allows businesses with multi-channel selling needs to sync inventory quantities across sales channels. It also allows you to set up re-order points for automatic re-ordering to maintain optimized inventory levels.
  • Warehouse management: Warehouse features allow you to check stock levels, manage warehouse items across 2+ warehouses, and fulfill orders more efficiently by dispatching customer orders from the warehouse closest to the customer.
  • Order management: Order management allows you to easily manage customer orders. This feature automates aspects of order fulfillment, like converting purchase orders into invoices.
  • Analytics and reporting: This feature enables data-driven decisions to meet customer demand. Zoho offers very basic reporting capabilities compared to other options.
  • Barcode scanning capabilities: Barcode scanning helps drive efficiency in perpetual inventory management systems. It helps keep track of inventory as it comes and goes in real-time.

Another notable Zoho Inventory feature includes end-to-end inventory tracking. This functionality allows you to track inventory items through features like serial numbers.

Although Zoho Inventory is an affordable option, it doesn’t offer the most customizable inventory management solution. Its forecasting and reporting capabilities are also limited compared to many of the other options.

Zoho Inventory Price:

Zoho inventory offers a free, robust option for those looking to get started. It also offers a 14-day free trial for their other plans, which start at $59 per month when billed annually.

Verdict:

Suitable for small businesses, but businesses looking to scale will eventually outgrow it.

3. Veeqo

Veeqo is another popular inventory management solution for retail or wholesale businesses with multi-channel selling needs. The software advertises itself as an inventory and shipping platform.

Like Zoho Inventory, it has a simple and intuitive platform that brings together each sales channel into a centralized place so that you can easily keep track and manage everything. It also provides features for order management, inventory control, analytics and reporting, and warehouse inventory management.

A unique feature about Veeqo is that they have their own barcode scanner, which accelerates the processing of high volumes of orders. It also speeds up the process of stock counts.

The platform has a reputation for providing an amazing shipping experience. Its shipping integrations include over 15 major shipping couriers like UPS and FedEx. The platform also offers shipping features like discounted shipping rates and live tracking.

Although the onboarding process can be time-consuming, everything works very smoothly once you’re all set. This makes the software a good pick if you’re looking for something scalable and customizable, but not if you’re looking to get started quickly.

Veeqo Price:

Veeqo doesn’t offer a free account but does offer a 14-day free trial. Pricing for their cheapest plan, which processes less than 500 monthly orders, starts at $156 per month when billed annually.

The Veeqo scanner hardware is sold separately for a one-off payment of $495.

Verdict:

Veeqo is great for a small retail business looking for a scalable but budget-friendly inventory solution to get started.

4. Sortly

Sortly is one of the best inventory management software for small non-retail businesses. It's a good pick for businesses looking for a quick and easy solution for their inventory and asset management needs. Its visual nature appeals to those who dislike reading words on spreadsheets.

Its super intuitive functionality allows your team to learn how to track important details about your items quickly. This means you won’t need extensive training on the product either. Sortly has most of the basic inventory management software features like warehouse management, inventory control, barcode scanning abilities, and basic inventory reports.

The platform allows you to scan QR codes through the app, receive stock alerts to keep track of stock levels and returns, and group items easily.

With Sortly, there are a few things you’ll have to be mindful of. You can’t integrate with other apps and software unless you’re on the ultra plan. Also, it doesn’t yet integrate with eCommerce nor accounting software. Lastly, you’ll need to contact support to execute integrations via API, even if you’re on the ultra plan.

Sortly Price:

Sortly offers a free version, or you can get started with a free trial of their advanced or ultra version.

Verdict:

Sortly is a great budget option with very simple to use features for non-retail small businesses in various industries.

5. Brightpearl

Brightpearl is a retail management system and inventory system built specifically for multi-channel retail businesses or wholesalers. The platform helps businesses streamline their inventory system operations. It has all the basic inventory management features in its more expensive plan. However, the cheaper plan for businesses with less than 1500 orders per month is a lot more limited.

One great thing about Brightpearl is that it’s built specifically for higher transaction volumes. Brightpearl is a great alternative for users migrating away from Stitch Labs. Stitch Labs was recently bought by Square and will end operations in Spring 2022.

Although it’s a good thing that Brightpearl is constantly updating the software, this often comes at the price of having to deal with software bugs.

Brightpearl Price:

Brightpearl doesn’t offer a free option or trial. You need to contact them for a pricing quote.

Verdict:

Brightpearl is a popular option for merchants trading over $1 million or planning to within the next year. Not a good choice for retail businesses just starting out.

6. InFlow Inventory

InFlow Inventory software is a popular software pick for small businesses on a budget. InFlow combines inventory and order management software to streamline inventory tracking.

Like Zoho Inventory, Veeqo, and Brightpearl, it also is made for retail businesses with multi-channel selling needs. A unique feature of inFlow Inventory is its built-in B2B portal.

InFlow has the basic inventory management software features of inventory control software, barcode scanning abilities, manufacturing inventory, warehouse management, and reporting.

InFlow Inventory also connects with over 3,000 apps with the help of Zapier. Unfortunately, most integrations are only through API. APIs may require a developer for seamless integrations between software and apps.

Unlike some of the other software on our list today, inFlow is not QR code friendly and doesn’t offer a free version.

InFlow Inventory Price

InFlow Inventory offers a 14-day free trial but no free plans.  Plans start at $71 per month.

Verdict:

InFlow is a good budget option for B2B wholesalers and distributors.

7. Netsuite

Netsuite, owned by Oracle, is the best inventory management software for manufacturing companies or companies with large manufacturing needs.

The platform offers a complete set of basic inventory management software features plus purchasing capabilities to streamline the manufacturing process and supply chain processes.

The software is very customizable and provides advanced features. Some of its advanced features include demand planning, cycle counts, and very detailed product catalogs. Still, you’ll likely need the help of developers to take advantage of all of its functionality. It’ll take time to set up the platform’s inventory system, but it’ll be well worth it.

One thing to note is that it’s not ideal for businesses with high retail functionality needs. The other software on this list made for retail businesses are a better option.

Netsuite Price:

The platform offers no free trial nor free accounts. You have to contact them for a custom quote. The software’s pricing starts at $999 per month.

Verdict:

Netsuite is best for businesses with more complex needs and a higher budget because it’s not the cheapest option on the list.

8. Cin7

Cin7’s unique spin is that it’s an inventory management software as well as a point-of-sale system. This allows businesses to further streamline stock management across sales channels to prevent stock-out. This is helpful for businesses with both online and physical stores.

The platform advertises itself as a comprehensive solution for many businesses, including retailers, wholesalers, and those with simple manufacturing needs. Cin7 is another great alternative besides Brightpearl for previous Stitch Labs customers.

On top of having all the other standard features of cheaper inventory management software, it has a lot more features and functionality.

Cin7 Highlights:

  • Advanced reporting: You’ll have access to over 100 customizable reports. It also includes demand planning and forecasting features. This'll give you access to actionable data to make better decisions around inventory.
  • Known for its many integrations (550+): Cin7 has many integrations across eCommerce, accounting, and more. This feature makes it easy to take your business to the next level as it grows.
  • Affordable enterprise resource planning (ERP): ERPs usually charge a higher price for additional features. Cin7 took a different approach. They include lots of built-in functionality at no extra cost.
  • Fully-integrated point-of-sale system: Cin7’s point-of-sale allows you to do a lot more than just process transactions on their point-of-sale system. Their point-of-sale system also allows you to track inventory, ship orders, and much more.
  • Mobile point-of-sale: Cin7’s point-of-sale module can be run on a mobile device and can even take orders offline.

Cin7 Price:

Cin7 has a small business plan which starts at $299 per month, making it one of the options with the highest price on this list. When it comes to ERP software, it’s considered to have a budget-friendly price.

Verdict:

Cin7 is best for larger businesses or fast-growing smaller stores with complex needs. It’s also worth the investment if you have pop-up shops or trade shows.

Questions to Ask When Buying Inventory Management Software

There are some things you should know before committing to any inventory software to avoid any surprises.

Here are some questions you should consider asking support staff as you shop for inventory software:

  • Can you manage more than one warehouse with your plan?
  • Can you centralize all or most of your data with this software?
  • Can this inventory system scale as your business grows, and to what extent?
  • How many user licenses does the subscription offer?
  • Is it easy to import or export data to and from this software?
  • Does this software integrate with all the main other software you use, like accounting?
  • How long does onboarding take?
  • Does the software work across more than one type of device?
  • Can you see some case studies of clients in your niche?
  • How long would training an employee new to the software take?
  • What exactly does the price include? And what are common add-ons that will add to the price quoted?
  • What hardware would you likely have to buy separately?

Choosing the Best Inventory Management Software

The best inventory management software makes the best perpetual inventory systems possible.

Nowadays, you have many software options besides the basic spreadsheet when it comes to inventory software. Whether it’s your first time trying more sophisticated inventory software or your third time, it’s easy to try out new software. Most offer free trials or some type of free plan to see if the software is right for you.

There’s a perfect inventory management solution waiting for you every step of the way.

Already using FreshBooks accounting and have simple needs for tracking inventory? Give FreshBooks inventory a try.

More Resources on Small Business Accounting


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