You’ve been hearing all about the cloud and its software lately. And all about how making the move to managing your business operations, like inventory, on the cloud will allow your business to run smoother.
TradeGecko manages your inventory securely in the cloud, so you can synchronize your orders and manage your stock in real time.
Moving your inventory management to cloud software will make you more productive, save time and streamline your operations. It can also improve one crucial aspect of your business operations: the sales process, and by doing so, having a direct and positive impact on your bottom line. How, exactly will the cloud help you out with sales? By simplifying how you sell.
Managing your inventory with cloud software removes so many of the factors that can slow down and clutter up your sales processes. This includes everything from out-of-date stock information to long-winded sales processes that include a lot of paperwork.
Let’s have a closer look at 6 of those specific ways that cloud inventory management can help simplify how you sell.
Moving to cloud software means that all your inventory information is in one place, and that the movements of your stock are not only updated in real time, but tracked wherever they go. As a result, you don’t have to worry about unexpected stockouts because of out of date information, or be surprised that a big order left you with an empty shelf. (the cumulative impact of these, by the way, is a mind-blowing $1.1 trillion in lost revenue across the globe). You’ll also be able to identify patterns, such as seasonal dips or month-end spikes, and hence be able to plan for the same shift in demand in the future.
This automatic stock tracking takes care of the basics of good inventory management - giving you constant, accurate information about what’s going on with your stock. It also removes the guesswork of what, exactly, is available to sell - empowering your sales reps to speak with more confidence and conviction when meeting with potential clients
Especially when it comes to making thoseB2B sales, easier creation and tracking of sales and purchase orders are a big advantage of cloud software. Sales and purchase orders are not only created quickly, they can sync with your accounting system, like Xero.
Why is this a big deal? According to Pace Productivity, sales representatives spend an overage of only 10.8 hours a week (that’s 22% of their working hours) engaged in selling activities. The bulk of their time is spent on administrative tasks and paperwork – so with the quick creation of sales documents that cloud inventory management offers, your sales process will get leaner, meaner, and a whole lot more efficient.
With the quick creation of sales documents, your sales process will lose a lot of that bulky paperwork that was really just slowing you down anyway.
With cloud inventory management, you can fulfil orders faster and more efficiently, which has the added advantage of allowing you to start selling more.
Your warehouse or 3PL gets the updated information it needs, and pick and pack lists are generated quickly, allowing for quicker shipping. When you start taking those orders as they come and fulfilling them like a pro, it gets easier to just keep on selling - and satisfying your customers (Statistics show that 48% of customers aren’t willing to wait more than five days to receive their products – so the fact that your cloud inventory management can help cut back on shipping time will go a long way in improving customer satisfaction!)
For most cloud inventory management systems, it’s not just about managing your inventory – they come with a lot of tools that make selling easier. For example, if you were to go with a system like TradeGecko (no pressure), we have tools that go above and beyond basic inventory management.
Our B2B eCommerce platform takes a traditionally long-winded wholesale sales process and makes it much faster. Our mobile sales app ensures that when you or your sales teams are on the road, you can still make the sale as needed. These tools all come together to become a system that when used just right, can bring you more sales.
Improved communication across the company always simplifies the sales process. If you use a 3PL, they will be working from the same information as your warehouse staff, who will be working with the same information as you. You’ll also be able to make forecasts with greater accuracy, and use these data to guide high-level, strategic decisions such as deciding which markets to expand into, or what new product lines to push out.
Better communication throughout all your processes can never be a bad thing.
If you move to an inventory management solution on the cloud like TradeGecko, you’ll have access to sales data and intelligence reports.
Intelligence reports give you information that includes what your bestsellers are, give you insights into your customers' behaviors and how stock moves. With reports like these, your sales decisions are no longer blind guesses, but really intelligent, data-driven actions.
Long story short: don’t think of moving to the cloud with your inventory as something that will only affect your inventory management processes. The cloud also simplifies how you will sell: freeing up time that used to be spent on manual processes and providing better information for your product.
Find out how TradeGecko can help you sell better by signing up today!