Will LOCATE Inventory suit my business?
It’s a question we’re asked a lot. No really, a lot. How do you pick the best system for your business? Trying to get the balance right between ease of use, all the features you need and a price you can afford is never easy especially when there are so many apps available on the market.
It is a process we go through internally constantly. We work with a number of different apps from POS to inventory management and job costing. We recently added Locate Inventory to our Partnership portfolio. Why? So that mid market businesses had a more complex offering at a fraction of the cost of a full ERP system.
Firstly, a quick background on the app itself: Locate is designed for businesses who sell physical inventory. That could mean food and beverage, clothing, consumer products, industrial products or equipment etc. In some instances, the business’ selling these items may also be manufacturing them.
Locate has a really nice assembly module built in. The app is 100% cloud based and designed to integrate with backend accounting systems such as Xero or QBO, as well as with e-commerce apps, shipping apps and so on.
So how do you know if this solution might be suited to your business? We’ve outlined a few characteristics of businesses where Locate is likely to be a good solution here:
- Locate is designed for “larger small” businesses, perhaps from around $1M turnover all the way up to $50M or more. Most businesses who will benefit from locate are likely to have at least 5 users, and many will have 10, 20 or more.
- Businesses that sells physical inventory either online B2B or B2C, via a wholesale distribution model or a variety of combinations of these channels. You probably don’t have a significant servicing or job costing component to your business (if you do please call us because there are other solutions available for businesses such as yours).
- A business experiencing strong growth and is starting to experience volume issues either with the entry level inventory app you currently run, or with Xero’s overall transaction volume limits. Locate has built in tools to streamline receipting, stock ordering, the whole pick, pack deliver function and in the context of Xero enables syncing of invoices as a daily total rather than invoice by invoice. This opens up using Xero as a back-end accounting system for far larger organisations than has previously not been an option (the largest inventory based client we have running with Xero has a turnover of around $150M).
- Now more than ever, it’s a global marketplace and Locate has multiple currency functionality. Whether you purchase products internationally and/or locally and assemble them, or you distribute to all corners of the world, Locate is up to the task.
- Locate also provides really good functionality for businesses that assemble or manufacture finished goods. Not only does it have a bill of materials it also supports features such as by-products and co-products which few other software solutions at this level do.
- Locate offers batch tracking, serial number tracking and barcode scanning of products both into and out of the warehouse as well as during stock take and assemblies via both IOS and Android platforms.
If your business is outgrowing your current systems and your looking for something new, please reach out to us for an obligation free discussion.