The best inventory software for small business needs to master all sales channels while delivering efficient order management and streamlined, easy-to-access reports. For smaller companies with limited transactions and products, a simple point-of-sale system may be enough. However, as your business grows, improved small business inventory management becomes crucial to maximize your sales processes.
Numerous options exist today, but some inventory software for small business offers more of the features you need, easier-to-use technology, and competitive costs that make it a good fit for most companies. Let’s explore some of the best options available.
#1: Zoho Inventory
Best for: Free inventory software for small business
Zoho Inventory is not only free for small business use, but it is a robust solution with features that most companies can benefit from right away. With the free version, you can process 50 sales each month with printing labels, tracking from a single warehouse, and using e-commerce and payment gateway integration options. Additional plans are available to use as you scale.
Pros:
- Works with most online sales channels
- The free plan is robust for most needs, offering backorder and drop shipping options along with an intuitive customer portal
- Barcode, shipping label, and purchase order generators included
Cons:
- The free plan is only ideal if you’re processing under 50 orders a month
- A bit more complex to set up
#2: Katana
Best for manufacturing and production companies
Katana is a small business inventory management system that is excellent for those building from the ground up since it integrates raw materials and finished product items. You can use it to set reorder periods when items reach specific prices or thresholds. It is easy enough to use and works well for stocking a range of products.
Pros:
- Good accounting and e-commerce integration options
- Create purchase orders
- Track time spent on tasks with an in-house app
Cons:
- Costs more than other plans at $199 at the starting point
- Upper-tier products are more elaborate and require professional installation
#3: Lightspeed
Best for high-volume retailers
Lightspeed is an option for those who have a strong retail presence. That is, it does well when you are selling a lot of products. The inventory management feature allows for tracking stock, creates purchase orders, and allows for bundling. It also offers features like bulk price changes across all of your sales channels and alerts for low stock. Customized reports are also a nice option for this product.
Pros:
- Provided unlimited barcode labels
- A dedicated account manager to help with onboarding
- Create purchase orders in the system
Cons:
- More expensive than other options
- Lowest cost plan does not feature e-commerce tools
- You will need to sign a contract
#4: Square
Best for small retailers and on-the-go sellers
Square is one of the most recognized names in small business payment processing solutions, but its inventory management tools are also robust. As a POS system, it really provides small businesses with what they need to get their business open and running whether you have a single storefront, numerous storefronts, or a business that moves from one area to the next. It allows for syncing inventor across all challenges including both your physical and online stores. Set up low-stock alerts and in-store pickup or delivery.
Pros:
- Payment process and build in POS system that is easy to use
- Unlimited items across all of its plans
- Inventory scanning and barcode label printing
Cons:
- It’s hard to sync up promotional offers and categories according to online and in-person solutions
- Fewer reports and analytics
#5: Salesbinder
Best for multiple location providers
Salesbinder makes it easy for you to navigate multiple locations with its inventory software for small businesses. When your inventory is scattered, this option allows not only for easy management but also a way to transfer items frequently. Kitting and bundling options, though they cost more, are available in this system. It is also a great option for those who are selling products or packages that have more than one product or inventory item.
Pros:
- All plans, including the free plan, offer unlimited location support
- The free plan provides purchase orders, barcode creation, shipment tracking, and more
- Shipment tracking, reporting, and stock transfer features
Cons:
- If you plan to integrate with accounting software, you cannot use the free plan
- Limited mobile apps
The Most Important Small Business Inventory Management Features
When choosing inventory software for small business, there are numerous options out there with lots of features – and that can get confusing. When choosing a product, it helps to focus on just specific features that you need to apply to your business. Here are our recommendations:
- Inventory tracking features: You need to be able to see inventory in real-time.
- All sales channel connectivity: You need to be able to manage your inventory even when you are selling across multiple sales channels.
- Purchase order management: A purchase order is an important part of inventory management software because it aids in streamlining the process of getting orders out. Not all offer this.
- Alerts: Some of the best inventory software for small businesses are not just static but dynamic tools. Look for those that offer alerts for low stock or reordering points.
- Reports: Data from reports can help you make better buying and inventory management decisions. Look for those that offer profitability-related reports, inventory forecasting, and cost of goods sold, at least.
Choose a solution that is within your budget but allows you to scale upward as your business grows. Also seek out those systems that can work with the other business management platforms you are using.
Simplifying Your Business Management with Townsquare Interactive
Choose an inventory software solution for small business that works with your entire team, including your digital marketing company. Townsquare Interactive is your business management and digital marketing company that partners with small business owners so they can be found online, get customers, and grow their business.
There are no contracts to worry about, but you will have dedicated service. Our commitment to our clients is to build trust and develop a solid level of support. Contact Townsquare Interactive now.
This content is designed for advertising purposes and should not be considered editorial or journalistic material.