As you may know, it’s not impossible to handle all of the specifics of a company without using business management software.
A lot of businesses get away with it. But, by managing your business processes manually, you are costing your business a lot more in the long run – through inventory shrinkage, missed opportunities and reduced business efficiency.
From complete and total visibility of your supply chain to your financial systems, as well as customer relationships, having a competent business management software is vital to your business. It can even mean the difference between stagnant growth and achieving the kind of operational excellence that you have always dreamed of for your business.
The only problem is, there are a lot of features that a potential business management system can have.
So, the question is, which company management software features are necessary for a wholesaler or distributor?
Below, we’ve created a list of three features that should come in handy to wholesalers and distributors alike, who are looking for a better way to handle their business using the right business management software.
1. Complete and total visibility
Wholesalers and distributors have been using company management software for years. However, you’d be surprised as to how few only bothered to integrate key aspects of their businesses in one software solution.
The ideal business management system incorporates and integrates the company’s finances, sales, customer relationships, inventory, as well as eMarketing, among others, all under one roof.
Using the right business management software helps unify and simplify the company’s multiple processes. This allows for better collaboration and workflow automation across the company. that helps minimise any inefficiencies and helps fine-tune your business.
2. Effective supply chain management
Wholesalers and distributors stake their entire businesses on their inventory and supply chain. After all, it is what your customers come for – and what brings in the profit.
Unfortunately, I see so many wholesale and distributors taking a risk on this by using manual stock control processes.
Manually managing your inventory and supply chain can lead to:
- Missing items
- Incorrect stocktake
- Delayed orders
- Ordering too little or too much
To prevent this from happening, wholesalers and distributors need a company management software that lets them track every single transaction and stock movement within their business.
Business management software allows for better supplier, inventory and buyer-behaviour insights. This allows for increased visibility across the organisation that allows your company to meet your customer’s needs, as well as enjoying a host of other benefits such as faster stock turnover rates, minimal stock storage incidents, centralised purchasing processes, and more.
3. Accurate and actionable reports
Wholesalers and distributors need their data now and they want it fast. They also want it to be presented in an understandable manner. At the same time, the data should be accurate and actionable enough. Otherwise, the company would not be able to identify and solve issues as soon as they pop up nor prevent future problems.
In short, wholesalers and distributors need business management software that feeds decision-makers with real-time business insights.
By providing those in authority within the business the necessary data, the ideal business management software allows the company to identify and single out problem areas, as well as their set priorities straight.
A unified business management system makes real-time simulation and planning possible using accurate analytical data. This can considerably boost the performance of wholesalers and distributors in all key areas.
As a result, this increases profitability and minimises risk at the same time.
Start Making Use of the Right Business Management Software Today
Minimal risks and high margins.
These are two things that every business always strives for, wholesalers and distributors perhaps even more so.
Download the HARMONiQ Effective Stock Management eBook today to learn more about becoming an organisation driven by smarter warehousing.