Misperceptions Holding You Back from Using Small Business Inventory Software

There’s a common misperception that tracking inventory is only helpful for large corporations. However, small business inventory software is created to help you make the most of the limited assets you have on hand.

Misperception #1: Tracking Inventory is Only Useful When I Have Hundreds of Items

You might think that tracking inventory is only beneficial when you have hundreds or thousands of items going through your production line each day. Even if you only sell a few products each day, implementing an inventory tracking procedure will help you make your selling process more efficient. Tracking sales and inventory movement gives you an inside look in how much your product is in demand, as well as the number of materials you still have necessary for creating your physical products.

Misperception #2: Managing Inventory Requires Dedicated Workers Only Larger Businesses Employ

Managing your inventory can seem like a giant task. You don’t have the ability to hire someone just to track your inventory. Everyone who works with you has to wear multiple hats. Cloud-based inventory tracking software, like Asset Panda, is easy to use and provide to all of your employees. Everyone can lend a hand and ensure your inventory gets tracked through every stage of the product creation process.

Misperception #3: Implementing Small Business Inventory Software Will Require a Complete Overhaul of How We Operate

While some programs may be cumbersome and difficult to operate, you shouldn’t have to completely change your business model to make a small business inventory software system work for your organization. Customizable platforms will provide easy ways to make changes, so you can set up a system that supports what you already do.

Misperception #4: Using Inventory Tracking Methods is Only Helpful for Products

There’s so much more to inventory than products you might sell as a business. Asset tracking is a part of the inventory process, and that manages equipment, tools, and other items you and your team use to manage daily work tasks.

Misperception #5: Purchasing Inventory Tracking Software is Outside My Budget

As a small business, you have much less operating capital than larger companies in your industry. Purchasing another software program might not seem feasible. However, when you take into account the cost-benefit an asset tracking software will provide to you, the cost doesn’t seem that large. What are you currently spending on replacing assets that go missing quickly? If you can prevent your company from losing even one asset, the software will have already paid for itself.

Asset Panda’s flexibility and customizable platform provides a way for your small business to implement an inventory tracking system that supports your operation. Whether you have a handful of products sold each day or have many moving parts to track, customizable fields make it a breeze for you to track each aspect of your business.

One of the best features of Asset Panda for small businesses is that you can use it to track much more than just inventory. You can add features to track assets, contracts, fleet, personnel and software. This holistic approach to supporting your business means that your inventory tracking software can wear more than one hat along with your employees.

Want to see how Asset Panda can support you as you help your business grow? Sign up for a free two-week trial today!

Bree Brouwer

Bree has held plenty of media- and marketing-related jobs over the years now, like working as a PR and marketing assistant to a Hollywood screenwriting coach, and writing content for three different digital marketing agencies.

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