Still using manual, error-prone data entry techniques? You’re not alone! Too many companies continue to do manual inventory counts despite the potential harm this could cause: inaccurate physical and cycle counts, missed opportunities, added costs, and poor relationships with customers, to name a few.
To achieve inventory accuracy, businesses can turn to automated inventory accuracy tools. These tools range from spreadsheets to sophisticated systems that integrate with other business processes. Popular tools include barcode scanning, RFID technology, cycle counting, and automated software, all of which simplify processes and reduce errors, ultimately leading to savings in time and money.
Here are three ways that automated inventory tools reduce costs and add value to your business.
Reduce the cost of inaccurate and physical and cycle counts
Everyone in your company values physical and cycle counts. If you are a non-profit, a healthcare company, a distributor, or even a SaaS company, knowing what you have on hand and where it’s located is necessary to keep your business flowing.
3 ways accurate inventory count provides value:
- Reduce the risk of write-downs and write-offs for a stronger bottom line
- Company-wide trust in the inventory data
- No need to shut down or postpone orders to count inventory
Reduce the cost of incorrect orders, issues, and shipments
Both your customers and your customers’ customers can be adversely impacted when a manually written order is picked from a spreadsheet and shipped with no data validation happening until it is out of the door. Your project team may not meet their deadlines due to the incorrect part being shipped.
Accounting and operations will certainly value a reduction in rush shipments and returns, due to the constant pressure they face to keep costs low and improve cycle times. And finally, sales will be able to focus on the future rather than trying to repair established relationships.
3 ways accurate orders provide value
- No more rush shipments to get inventory you thought you had.
- Happier customers who can rely on receiving what they ordered
- Employees have the stock they need when and where they need it
Reduce the cost of paper
Anytime a workflow involves manual capture and transferring of data, risk of errors increases, time to complete the processes is longer than it should be, and the entire transaction could literally disappear if the sheet of paper is misplaced.
3 ways replacing paper processes with automation adds value
- Those handling inventory can confidently take on additional volume while improving their accuracy and cycle times
- Simplicity, as one click of a handheld scanner can replace up to three or four inventory management steps
- Time savings
Leave the past (and paper) behind and step into the future with Sage Intacct.
About ACI Consulting
Founded in 1993, ACI Consulting is a full-service Sage VAR representing Sage Intacct. We provide white-glove service to hundreds of clients, helping them reduce costs, boost profits, and streamline processes to gain a competitive edge. Contact us today to learn more about our experience, services, industries served, and more.
