Saturday, 2 November 2013

Wholesale Inventory and Accounting Software- VRS ERP Software for Wholesalers

With increasing competition often dictating smaller profit margins on a per-sale basis, wholesale distributors are facing rising pressure. Savvy wholesalers are asking themselves the same question: How can technology be leveraged to lower operational costs, establish new competitive advantages, and better meet customer demands? Here ERP Software for Wholesalers comes in to the  Picture.

What can distribution accounting software do for you?
As the profit margin on individual sales can be narrow, distributors rely on a high volume of overall transactions to generate revenues. Accounting software for wholesalers needs to have the capability to handle a large number of database records. This is especially so given that the average distributor needs to maintain inventory records for each of the many products offered

Complete accounting software

Aside from industry specific functionality, distribution accounting systems contain all the normal modules you might expect in a standard back-office accounting package. Accounting features include the ability to print checks, pay bills, track expenses, manage payroll, create orders and invoices, manage receivables, establish budgets, perform bank reconciliations, and create top level financial reports.

Optimizing inventory control and purchasing

There are numerous reasons that it is so important for distributors to have the right predictive software to help optimize inventory. Maintaining excess inventory eats away at profits, by incurring additional storage expenses. Additionally, items that don’t move often need to be liquidated at below ideal prices and sometimes even at a loss. Keeping a large amount of inventory also means decreased agility and ability to meet changing customer needs.

Meeting customer demands

Successful wholesalers are looking more and more to try to keep the minimum amount of inventory to meet customer demands. In order to employ this strategy and reap the cost saving benefits associated with it, it is critical to have visibility into upcoming purchasing requirements.  Our  software (VRS UniERP Software) with advance features for distributors is providing wholesalers with this capability. When inventory control, order entry, and purchasing are integrated, distributors gain the ability to assess historical data, upcoming orders and forecasts, and predictable trends such as seasonal demand changes in order to plan their purchasing. Intelligent purchase order systems also provide the ability to perform complex calculations that can provide insight into how to reduce costs by taking advantage of volume buying discounts and how to select the right supplier to both meet customer delivery dates and minimize expenses.

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