Inventory Management: 5 Proven Strategies to Save Money & Boost Cash Flow

Every business from any industry such as Healthcare, Schools, IT (Information Technology), Energy, Construction, Military, Government entities and more have their own types of Inventory and Assets that they need to keep track of. Inventory and Asset Management is essential for any sized company whether it be a small business or a massive corporation, but deciding between implementing Cloud-Based or On-Premises software is another question.

Our Inventory and Asset Management System – Our software can be implemented in either way. In this blog, we will show you the benefits of using our tracking software, no matter your business size or industry, and make a comparison of both our Cloud-based and On-Premises solutions to help you decide which is a better fit. So, in that case, let’s begin.

Why is our Inventory and Asset Management software important to have?

• It gives you complete visibility: You can see all your Inventory and Asset items in one place on one interface.
• It keeps all your Items organized: Keep your Inventory and Assets where you want them to be an where they should be.
• It simplifies and accelerates your process: No more manual data entry using excel spreadsheet or trying to track your items by memory.
• It creates better security and accountability: Know exactly where your items have been and who had them with a full transaction history
• It reduces human error and saves tons of time and money: Know exactly how much you have on hand and eliminate unnecessary overstocking.
• It accurately forecasts future stock usage: Find out what items are the most popular and when you can plan to have extra on hand.

The list goes on, but these are just the main points that anyone can benefit from regardless of their company’s differences.

What is Cloud-Based?

Implementing Cloud-based software allows you to sync and back up all your inventory and asset data remotely to the cloud. It can take a lot of time to set up a brand-new Inventory and Asset Management software, but with our Cloud-Based software, implementation is a lot more convenient for you.

Cloud computing is especially trendy these days due to the rapid changes in our environment and advancements in technology. According to Forbes, “Throughout 2021, we can expect to see the rate of this change accelerate as more businesses get to grips with adopting cloud models, and delivery of data from the cloud to our devices becomes more integral to our daily lives” (Bernard Marr, Forbes Magazine).

Benefits of using Cloud-Based

• Cloud-Based is perfect for those who need Convenience: We make implementation a lot more convenient for you (and IT specifically) because we handle everything for you with minimal work needed from IT on the front end.
• We make sure your data is secure: Our system is equipped with an extremely strong security system, and we handle all security and IT responsibilities for you, saving you tons of time and steps for set up.
• You can see all your data anywhere with our mobile app: With our mobile app, you can use any iOS or android device to access all your inventory and asset tracking data without even needing internet connection.

Have a look at these 4 facts about cloud computing trends:

• 18.4% Worldwide end-user spending on public cloud services is forecast to grow 18.4 percent in 2021.
• In 2011, the cloud expenditure of an average company was roughly $6,500. In 2020, this number has risen to $10,000—per month.
• As a Service remains one of the easiest points of entry into the cloud.
• Cloud-native applications are the future of application development.

What is On-Premises?

Our On-Premises Solution allows organizations to have complete control over your inventory & asset tracking and security. When implementing an On-Premises system, the servers and database can be hosted entirely by you so you can set up as much security as you see fit.

Benefits

The biggest benefit of implementing On-Premises is being able to control everything on your own without our assistance.

• Control your own security settings.
• Set up everything the way you want it.
• Configure everything on your own.
• Only you have access and can give permission.

When our software is in-house, your organization can be sure it meets compliance standards.
For highly regulated industries, like the military or government, it is sometimes preferred, or mandatory, for software to be deployed on-premises due to highly sensitive data.

With On-Premises, you can work completely offline.
Since all information is hosted in-house and nothing is available in the cloud, there is no need for internet connection or WiFi.

When you choose to implement our On-Premises, you can update the system at any time.
Having to wait for your system to update can be stressful especially when you don’t have a lot of time to spare. On-Premises allows you to decide when you want the system to update.

Let’s Compare and summarize.

When deciding to go On-Premises or Cloud-Based, there isn’t a “better” or “one size fits all” solution. They each have their own benefits and work better for different organizations depending on their specific needs.

Comparison

On-Premises allows for more control over security but creates far more work for IT. Cloud-Based, while still having powerful security, leaves everything in the hands of the system provider, making it much easier to implement from an IT standpoint.

Conclusion

When choosing a system, knowing your priorities and needs can help you decide which system type is best for you. And if you are having trouble deciding, do not hesitate to call our support and sales team. We are here to help!

inventory syncing, automatic invoice creation, and more. This integration bridges the gap between financial and operational data, ensuring everyone has a unified view of your inventory transactions.

Walk the Inventory Tightrope with Confidence

Our Inventory System and Asset Tracking solution allows you to manage inventory with confidence and ease. Say goodbye to inventory imbalances, missed sales, and excess carrying costs. Our tools enable you to meet the needs of every department, improve interdepartmental communication, and discover your inventory sweet spot.