Business Top 10 Free Inventory Management Software for Your Growing Business

Published on May 10th, 2020 | by Ali Dino

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All About Billing Software and Inventory Management Software!

As businesses grow, everything has shifted to an online platform. Moreover, everyone is in search of shortcuts that can ease difficult tasks for them! When it comes to billing and inventory management, for the ease of people, the recent conventions have brought software for handling these concerns. What is a free billing software? And what is inventory management software? If you are searching for an answer to these questions, this article should do the job!

Inventory Management Software; What is It? 

To track new sales, orders, deliveries, and levels, special software is designed known as the inventory management software. Additionally, it may be used in the manufacturing industry to make bills of the materials, make a work order, and to make other such documents related to production.

What Is It Used For? 

Inventory management software is used by businesses and companies to avoid outages or overstocking of their products. This software helps in organizing data of an inventory which, before the use of this software, was stored in a spreadsheet or hardcopy form.

What are the Standard Features of Inventory Management Software? 

Some of the most common and well-known features of this software include the following.

  1. Sharing and creating invoices
  2. Picking the theme for an invoice
  3. Advance acceptance of orders
  4. Restoring your data/backup
  5. Can work on both; laptop and mobile
  6. Sends quotations and estimates
  7. Keeping a record of the expenses
  8. Providing delivery challan
  9. Guarantees data safety and security

What are the Benefits of Inventory Management Software?

How is inventory management software better than the traditional method? What are the benefits of using this?

  • Good Software For Inventory Management Improves the Accuracy

Proper software for inventory management can help you in deciding how much inventory you will be needing for your work. This greatly helps with preventing shortages of products as well as allowing you to have just enough without having any excess of it. Hence, with this, you can prevent product shortages while ensuring that your warehouse isn’t overloaded.

  • It Helps to Create an Organized Warehouse

A good software developed for inventory management leads to an organized warehouse. Inventory management software does your part in arranging these products on the bases of their selling. Such software helps to optimize the warehouse by putting the bestselling products in places that are easily accessible. This helps to maintain the process of order fulfillment and keeps your customers satisfied.

  • Reducing Expenses of Hiring Labor

An essential benefit of using software for inventory management is that the expenditure on labor costs is reduced. With this software at hand, you won’t be needing intense manual labor for the work, which in turn saves your money and time.

What is GST Billing Software?

GST billing software is a software that is designed to deal with the processes related to GST billing for various businesses. GST app helps businesses manage their bills, check the inventory, and deal with all accounting related matters. Hence, making it easy for businesses to handle their billing concerns. Such software helps with making GST bills and sharing them with customers, checking inventory instantly, payment recovery reminders, faster and simpler GST filing.

What are the Features of a GST Billing Software? 

There are several features of GST billing software that companies can take maximum benefit of. A few of the features of a GST billing software are listed below.

  1. Tracking orders
  2. Recording expenses
  3. Payables and receivables
  4. Sending quotations and estimations
  5. Providing delivery challan
  6. Tracking cash flow
  7. Handling cheques
  8. Business reports
  9. GST billing/invoicing
  10. Safety and security of the data

Why Do Businesses Need GST Billing Software? 

What are the reasons that companies should make use of GST billing software? Why is it so important? Here is what you need to know!

  • Filing Data Invoices Easily

With the use of a GST compliant billing software, companies can easily file the data before combining it with the GST billing portal online. It allows easy and simple transferring of data to the online GST portal from the software.

  • Securing the Data

In recent times, the security of data is crucial. With a GST billing software at hand, your data will be completely secure and safe. With the security threats, this software can help keep a record of the data, hence keeping it secure. Hence, with this software, your data is safe and secure.

  • The Invoicing Process Made Easy

Normal billing software may not be able to deal with the complexities of the billing and invoicing process. Hence, a GST compliant software helps to invoice products and goods quickly and efficiently.

Hence, both the software are crucial to businesses today.

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