Finding the Right Inventory Management Tool for your B2B Product Business

By Lucy Crossland on Thu 17 March 2022 in SaaS

For B2B product sellers, taking lots of orders is the norm, so having efficient systems in place is essential to productivity and profitability. So, how do you find the right system for your B2B product business?

For B2B product sellers, taking lots of orders is the norm, so having efficient systems in place is essential to productivity and profitability. Inventory Management statistics by Capterra found that in the US, 46% of SMEs either don’t track their inventory levels or use a very manual process prone to human error. This is despite an increasing number of businesses wanting to expand their product range, with 56% of warehouses planning to increase the number of product SKUs they can offer. In their article on the benefits of Inventory Management, Unleashed explore how inventory tools can help to maximise profit, minimise waste, enable accurate forecasting and provide a full perspective on current real-time stock levels. So, how do you choose the right system for your B2B product business? 

Shop around on reputable vendor review sites 

A great way to start making your shortlist is by searching on software review sites and filtering by those that are top-rated by real businesses already using them. Review sites such as the Xero Marketplace, G2 Crowd and Capterra not only give you a great overview of the software (what they offer, what size of business they’re best for, pricing etc.), but they’re constantly being updated with new customer reviews. What better way to get an insight into how the software helps businesses that getting a real account? Knowing that there are companies operating in a similar industry to your business who’ve had a positive (or indeed a negative) experience with a solution you’re consider can be invaluable in your journey to finding the best solution for you.

Whether it be the ease of use, customer support/service or overall rating, G2 Crowd and Capterra make the process much simpler and quicker by awarding badges to software companies based on these factors. Third-party accolades can give a great indication of the standout features of a software vendor, so you can weigh up what’s important to you.

G2 Crowd also has a handy feature that enables you to get a side-by-side comparison of selected Inventory Management Systems. Here’s an example of what this looks like by adding in just a few Inventory Management tools to grid:

Read blogs/articles that compare two solutions in depth

If you’re trying to make a choice between just one or two systems, it may be worth reading blogs that compare the tools side-by-side in more detail than high-level, quick comparisons. For example, this one by Stackupp gives an unbiased comparison of Fishbowl vs. Cin7, and this article by Unleashed compares an “all-in-one" solution – Sage – vs. Xero + Unleashed (two “best-of-breed"/specialist solutions). Getting your eye in by reading up on various industry-leading perspectives can really help. Be wary for those written by the vendors themselves though – they could be slightly biased towards their own software, but in most cases, they’ll want you to be a good fit for them too, so will aim to base the article on the facts.

Consider the products you sell 

Depending on what type of products you sell, different Inventory Management Systems can cater for specific product-based requirements. For example, although both vendors cater for a range of verticals, DEAR has a focus on fashion and retail-based businesses, whereas Unleashed has some great examples of coffee roasters and breweries using their Inventory Management solution. Again, build up your side-by-side comparisons to establish what industries/verticals the software caters to best as this might help steer your decision. 

The Xero App Marketplace also provides a comprehensive list of Inventory Management Systems, offering an overview/rating intro to each. From here, you’re then able to filter by industry type to understand which systems cater best to which industry types. 

Take a free trial & get a demo

Ultimately, there will be pros and cons to all of these solutions, so it’s important to see the software in action to weigh these up and make an informed decision. So, take advantage of free trials and guided demos, and be transparent to vendors that you’re considering different options. 

Using a combination of these tools and approaches, you’ll be in a much better position to choose the right Inventory Management solution for your business!

Sorted your Inventory Management system, and want a great CRM that’s fully integrated? Prospect is the #1 Stock-Aware CRM that’s built on Inventory integration. Take a free trial integrated to your Inventory Management system here!