Fishbowl Inventory Competitors

[Jonathon Burnside]

Methodology: To compile our list, we evaluated software solutions capable of uniquely different features and varied in the markets they serve. To solidify our rankings, we weighed the number of features, prices, and user reviews of each option.

Cin7 Core is a comprehensive solution that helps small businesses track inventory, manage sales, and reach more customers. By integrating with numerous sales channels like Shopify and Amazon, Core lets business owners track sales from any device. Designed to be an out-of-the-box solution, Core additionally automates your workflow so you can focus exclusively on running your business smoothly while the software does the rest.

Cin7 Omni is a top choice for companies looking for a scalable and fully customizable product. It supports native EDI connections and third-party logistics (3PL) connections. With Omni, businesses can connect with over 700 tools and work to expand their sales channels and reach new customers. With products, stock locations, sales, and reporting all in one place, Omni empowers product sellers to run operations smoothly without the hassle of shuffling through spreadsheets to manage sales and reporting.

Cin7 has also introduced Connected Inventory Performance, an advanced system that streamlines inventory management with real-time visibility, automation, and integrations. It eliminates manual tasks, reduces cash flow waste, improves customer experience, and solves inventory inefficiency. Acting as a single source of truth also helps enhance sales efficiency.

Why we picked it: Formerly Skubana, Extensiv Order Manager allows you to sell large volumes of items on virtually every online marketplace, such as Amazon, eBay, Walmart, and more. Great for online sellers wanting to automate dropshipping tasks, Extensiv Order Manager makes connecting marketplace partners with fulfillment centers easy.

NetSuite has various features that make it a strong choice for large companies looking to centralize their data into a single solution. To help businesses improve efficiency, NetSuite includes a built-in financial management solution that automates accounting tasks and tracks financial data.

Why we picked it: A solid choice for B2B wholesalers and retailers, inFlow allows business owners to create B2B showrooms, scan and generate barcodes, send invoices and receipts, manage purchase orders and vendor history, and generate sales and industry reports.

Why we picked it: For quickly growing businesses, Zoho is a compelling choice. With key features available at a more affordable price than most competitors, young companies can get inventory management support at value.

Offering order management, inventory tracking, product bundling, kitting, and more, Zoho allows up-and-coming companies to streamline their operations and focus on growing their business. The one downside is that Zoho integrates with fewer marketplaces than competitors, limiting the sales channels that businesses can take advantage of.

Why we picked it: With strong multi-channel sales capabilities, Ordoro serves as a comprehensive inventory management software built for e-commerce companies looking to improve their sales process.

Ordoro allows product sellers to improve the sales process by automatically forwarding orders to warehouses and other vendors for order fulfillment. Beyond this, the software also creates purchase orders based on forecasting.

For example, a clothing retailer will approach inventory management much differently than a food and beverage vendor because they can afford to keep clothing on the shelves longer. The same is true for a discount shop (a highly competitive market) versus a luxury car brand, which can enjoy a lower inventory turnover ratio.

The key pillar of retail inventory management is maximizing sales while avoiding being out of stock or overstocking. As a result, there are some core components the best inventory management software for retailers include. These are:

Fulfilling orders on time is paramount in wholesale inventory management, and the best inventory management software makes it simple for wholesalers to track orders and ensure processes go smoothly. Key features include:

Streamlining your sales, manufacturing, and distribution process is a critical part of growing your business, and robust inventory management software is a worthy investment that can help accomplish this. Inventory management software can improve your internal processes and give you insights into your sales numbers, product performance, and customer base.

While choosing a solution may be daunting, the results tend to speak for themselves. At Cin7, we help our customers place over 125 million orders per year, resulting in well over $35 billion in gross merchandise value annually. As sales processes evolve and change, we pride ourselves on our ability to adapt and help businesses grow.

Starting a business is filled with challenges. As your business grows more challenges appear. While you focus on your product, distractions temp you from your course. Bookkeeping, accounting, and payroll are some of the worst offenders.

The claim that QuickBooks is the leading product with professionals is a product of client usage, and, once again, marketing. Strip away all the venier and you can see the endless complaints in accounting and tax peer groups.

Accounts receivable and accounts payable are two modules. Large corporations literally have departments for each. These departments work within modules that eventually become part of the whole financial reporting process. But every hand is not inside the main software with each transaction.

The reason I need you to think in modules is because QuickBooks has probably convinced you each of these modules must come from them to be fully integrated. While all the modules do integrate at some point to build comprehensive financial statements, each module has an important task that should not interfere with the tasks of other modules.

At the most basic level, you want the ability to import bank statements so reconciliation of said statements is fast and easy. It should be error-free! If you are here reading this it may be from the less than error-free functionality from QuickBooks as it pertains to importing bank statements.

We will discuss inventory separately below. For now, understand you can use a completely stand alone inventory management system. If you run a retail business or manufacturing business with work-in-progress it is practically a necessity. The best part is it seamlessly integrates with your main accounting system.

The modular system does away with one vendor controlling the entire process. Yes, many of the processes will be with one vendor for small businesses. Still, the ability to easily switch as your business grows is vital. Often a specialized module is needed due to the type of business you have. Switching one module as your business grows is easier than transferring your entire system.

If you already use QuickBooks and want to change to something better, know that most of accounting software allows for importing of your QuickBooks data. Some software companies help with the process, most have videos that walk you through the process.

Inventory is a good module to use for an integration scenario. Inventory for a homebuilder is different from a manufacturer, which is different from a retail store (online or real world). A one-size fits all inventory management system risks an error will be made and the consequences reverberate throughout your accounting system. Inventory often requires a specialized module because an inventory program that attempts to serve all needs will be cumbersome. Focus is vital.

Inventory is listed on the balance sheet. At the end of each month you make a simple adjusting entry to bring your inventory on the balance sheet into line with the inventory program. A retail store may have one simple transaction, whereas a manufacturer may have a few more entries to account for work-in-progress from raw materials to finished goods. As always, facts and circumstances prevail. Just know that an inventory management system does not need to integrate with your main accounting software for accurate records.

Payroll is another excellent example. A standalone module or third-party payroll vendor still needs data entered into your main accounting software. The third-party vendor or separate payroll software can provide detailed reports and file tax documents. The financial statements only need the amount of the transaction. You can enter all payroll expenses as one item. Because you will need the detail when reconciling the bank statement, many business use a separate checking account for payroll.

Of course I can go on with all the different ways accounting is performed. Instead, I want you to understand the mental process of building a functional and useful accounting system for your business. I have provided building blocks. You now need to construct your accounting system to fit your needs.

We will now turn to a variety of vendors for your consideration. With the exception of ADP (payroll) none of these suggested vendors is an affiliate. The goal is to provide useful tools that will help with your due diligence in building an accounting system that works for you.

First, just because an accounting software package offers multiple modules, you can still take a different path, using better modules from other sources! Payroll, inventory, invoicing, and more are frequently available with each online software choice. Those built-in choices are designed for a broad audience and may not be the best choice for you. A modular accounting system is built from components. You are not married to any one vendor for all modules.

Xero, Zoho, and Wave are good starting points for your research. NetSuite is more than most small businesses need and can get expensive. Kashoo has not been a favorite of mine because, as a tax accountant, I am on the receiving end of the financial statements and clients using Kashoo have been a challenge. Still, it may work for you. The key takeaway is that this is a starting point. A Google search can help you find more alternatives and specialized accounting software for your industry.

c80f0f1006