Signs You Need An Inventory Management Software

As businesses grow, their inventory can sometimes become messy and disorganized. This is especially true for auction companies, because as they grow, they tend to offer a more broad variety of items. 

An auction inventory management software can help with this disorganization, and make auction companies’ lives a little bit easier. However, as companies continue to grow, they can potentially outgrow this software.

At InnovA, we are a brand new competitor in the auction management industry. Through innovation, we have developed a software that allows auction companies to keep track of all of their processes in one place. 

From auction consulting to pricing valuations to auction inventory management software, we can help your business increase both productivity and revenue. 

Below, we detail some signs that your company has outgrown its current inventory management software, and discuss how InnovA can help. 

What is auction inventory management software?

Inventory management software is a tool that helps auction companies, as well as many retail businesses, better manage and process their inventory. Most inventory management software will offer elements of automation, integrations, and customization to allow you to create an inventory management process that works for you. With Inventory management software, your company will see an increase in productivity, higher profits, and better visibility throughout your business. 

Why you need an inventory management software for your auction company

According to Finances Online, 19.6% of businesses plan to have more inventory than they had before the COVID-19 pandemic. With that being said, it seems as though businesses are trending to expand their inventory, which in turn will result in a need for great inventory management software. 

Signs you need an inventory management software

As companies grow, it is normal to outgrow your current inventory management software. Here are some signs that indicate it’s time to upgrade your inventory management: 

You are spending too much time gathering data

One sign that your current inventory management software is not enough for your growing business is when it starts to take you too much time to gather all of your inventory data. The point of an inventory management software is to help reduce the amount of time it takes. By upgrading your inventory management, you will increase your productivity as well as reduce errors from happening as well.

You don’t have a sense of your “true inventory”

True inventory is much more than just counting the number of products and items in your warehouse. In fact, true inventory involves everything from the number of items, product shipments, products being currently transported, and much more. When you feel like your inventory has grown to a level where you can’t personally track all of this information yourself, you know it’s time to consider an inventory management software!

Your business is growing rapidly

Lastly, when businesses grow rapidly, everything can become disorganized. This is especially true for auction companies who may be offering more auctions than ever before. An inventory management software will help you stay accurate and efficient in your inventory management, and ultimately improve your sales and profits. 

How can InnovA benefit your business?

If you are in need of inventory management software for your auction company, InnovA is here to help. But that is just a small piece of what we offer. With our auction management software, you will be able to manage your inventory, create consistent price valuations, customize your inspection checklist, manage your customer relationships and much more. The best part about our cloud-based software is that all of this information is stored in one place, where all employees can have access to no matter where they are in the world. 

To learn more about our auction management software, visit our website today!