Are you struggling with your Stock Management?
Stock management is definitively not the most attractive task of business owners. Administrative duties are far from creativity, business development, sales or team management. We have experienced that managing your stock takes more time than expected, creates frustration and takes away attention from the core business. In this post we suggest two ways to get rid off this stress: work with cloud IT solutions and find people to delegate the stock management.
Finding the right solution was part of the challenge because the most popular platforms might not suit the individuals in the team or collective process. Choosing a web based platform was obvious since we have been working with cloud solutions for a while now.
Consistency and reliability are the top requirements. Getting one single source of data from purchase orders to sales invoices, with intuitive collaborative tools make business team’s life much easier. Anywhere, any time you can have a look at your stock level, re-order and then manage your cash flow. Your CFO or advisor can have access to the PnL or Balance Sheet accounts (sales, stock or Cost of Goods Sold) and efficiently check your production.
Our conviction is simple: a business owner should focus on products, clients, people in team, business development, not on administrative and financial operations, including stock management.
We had a chance to set up a stock management system for a small business in the luxury retail sector. Our priority was to connect and link all accounting systems to make the process as smooth as possible and steamless for the production and designing team.
We set up Dear, linked it to QuickBooks Online and are able to recommend it to any business owners. Our EthiCap team recognizes the reactivity of the support team, which is crucial in the learning curve.