This is, of course, true of inventory management software. When comparing inventory management solutions and trying to find the best deal, you should look beyond the price tag. Consider hidden costs, return on investment, ease of use and other factors that could either sweeten or break the deal for your business. All of this will help you find the most affordable inventory management software.
Instead of only looking at the obvious costs of buying inventory management software, think of the expenses that are harder to see. These include training costs, installation fees and more. Try to find inventory management software that is intuitive and user-friendly so you can quickly learn how to use it. You don’t want to spend too much time or money just getting started with the software. If you get a small group of your staff members initially trained on how to use the software, they can help train their coworkers.
Return on Investment
Even if an inventory management solution is a little more expensive than another, it may still be more affordable in the long run if it offers a higher ROI. Whichever software you choose should pay for itself within a fairly short amount of time by cutting your expenses and making your business more efficient. Not every solution will have the same impact on your bottom line. Ask the software providers for an ROI calculator to see how quickly you can recoup your costs and continue saving with their software.
Ease of Use
As I mentioned earlier, inventory management software should be user-friendly. It may not be the easiest thing in the world to master at first, but it shouldn’t feel like a constant struggle to get it to do what you want it to, either. If you have to spend a little more to avoid a lot of frustration with the software, it’s a small price to pay.
Beyond the Price
Think about other costs that can arise by buying the wrong inventory management software. If you get a cheap solution, it may work fine for a while. But what about when your company grows and you need more functionality, like multiple warehouses, cycle counting or advanced manufacturing tools? The cheap solution might not offer those features, and you’ll have to hunt for a new one. This means having to spend time and money searching for, buying and learning a whole new system.
It’s a better idea to get a flexible solution that can add features over time when you need them. That way, you don’t have to pay for advanced features at the start, but they’re available when you need them.
If you’re looking for truly affordable inventory management software, you should be sure to take into account all of the above factors, in addition to the software’s actual price. Find the software with the features you need right now and in the future. As long as it’s user-friendly and in your price range, go for it!