Why choose a stock-focused system over accounts software

stock control software over accounts software decision making
As your small business evolves, the informal methods that once worked smoothly can become roadblocks to growth.

When hundreds of customers turn into thousands and your team expands, relying on spreadsheets and paper records is no longer sufficient. But when it's time to choose more sophisticated tools, many business owners hit a stumbling block: do they need a basic accounting system with some inventory management, or a dedicated stock control system?

If you're grappling with this decision, let’s explore some common business scenarios to clarify the differences and help you make an informed choice.

1. Overstocking and stockouts

Picture this: you're running a bustling retail business with just accounting software. You might often find yourself overstocked on some items and out of stock on others. Why? Accounting software typically lacks real-time inventory tracking and forecasting capabilities. In contrast, a stock-focused system continuously monitors stock levels, predicts demand trends, and helps maintain optimal inventory, preventing both overstocking and stockouts.

2. Complex supply chains

For businesses with intricate supply chains, using only accounting software can be challenging. These systems do not provide the detailed visibility needed to manage multiple suppliers, track shipments, or handle returns efficiently. A stock-focused system offers a comprehensive view of every stage of the supply chain, enabling you to manage suppliers effectively, track shipments in real-time, and streamline return processes.

3. Scalability issues

As your business grows, the limitations of accounting software become glaringly obvious. Expanding inventory, increasing supplier relationships, and growing customer demands require a robust system. A stock-focused solution scales with your business, offering features like automated reorder points, batch tracking, and multi-location inventory management—capabilities that accounting software simply cannot match.

Why go stock-centric?

Real-time inventory tracking

Stock-focused systems provide real-time tracking of inventory, offering an up-to-date view of stock levels, movements, and trends. This real-time visibility is crucial for making informed decisions, something periodic updates from accounting software can't offer.

Enhanced forecasting

With advanced forecasting tools, stock-focused systems predict future stock needs based on historical data and market trends. This proactive approach minimises the risk of stockouts and overstocking, a challenge for most accounting software.

Efficiency and accuracy

Automation is central to stock-focused systems. From automated reorder points to batch tracking and expiry date management, these systems reduce manual errors and boost efficiency. Accounting software, designed primarily for financial management, lacks these specialised inventory features.

Improved supplier and customer management

Stock-focused systems provide detailed insights into supplier performance, lead times, and order history, enabling businesses to optimise supplier relationships. They also enhance customer satisfaction by ensuring popular products are always in stock and orders are fulfilled promptly.

Make your decision with confidence 

Opting for a stock-focused system over accounting software can significantly boost your business's operational efficiency, scalability, and overall performance. While accounting software excels in financial management, it falls short in addressing the complexities of inventory management.

By investing in a stock-focused system like Orderwise, which integrates both accounting functionality and stock control, you can ensure superior inventory management, improved supply chain efficiency, and a streamlined operation. This comprehensive approach leads to greater success and higher customer satisfaction.