The Benefits of Integrating Your Inventory Management Software with Your Accounting and Back-Office Processes – NetSuite
Inventory management is about knowing what you have in your warehouse and where your stock is located. However, unless it’s integrated with your back-office systems, an inventory management system alone can’t effectively optimize your inventory, nor ensure the inventory asset value on your financial reports matches what is physically in stock—at least not without manual intervention and reconciliation.
To optimize inventory management, leading companies integrate their inventory software directly with back-office and accounting systems. This integration provides a competitive edge with abilities to plan effectively, execute predictably with customers and minimize labor costs and errors associated with manual reconciliation.
Determining the right inventory management system for your business and a strategy for back-office integration requires assessing your needs today and your plans for future growth.
To achieve maximum benefits, your integrated solution must be real-time, flexible, transparent to users, reconcilable and scalable.
Why Integrate Inventory Software with Your Back Office?
The three key benefits to integrating your inventory management software with your accounting and back-office systems are:
- Optimizing inventory to meet product availability and ROI goals
- Providing inventory visibility to supply chain partners
- Stating inventory accurately in financial reports