Why Finale Inventory is one of our favorite tools for 7-figure eCommerce businesses 

26 June, 2023
Wayne Richard

Wayne Richard

3 minutes
documents in a desk with a calculator, laptop and pencils and a cup of coffe

If you are selling on multiple channels or doing more than $1M in sales and you don’t have inventory management software, you are running your business on hard mode. 

Inventory management headaches aren’t just a logistical nightmare for you and your team. It could be seriously hampering your ability to grow as each unit of inventory is locked up cash waiting to return to your business. 

One of our favorite tools that we recommend to our clients is Finale Inventory. It is powerful enough to be a mini-ERP for your business but at a fraction of the price of the enterprise ERPs out there like Netsuite and SAP Business One. 

With centralized data, forecasting, and multichannel inventory management tools, you’ll have the power to make informed decisions. In this post, we’re diving into the biggest benefits of using Finale Inventory. 

1. Seamless integration with all your key sales channels 

Expanding into different sales channels can help you grow your eCommerce business and reach new customers. But efficiently managing multiple channels can lead companies to become overextended if they don’t have proper systems in place to handle the expansion and new workload. 

Finale Inventory software simplifies the job with integration across different marketplaces such as Amazon, Shopify, BigCommerce, eBay, Etsy, and more. 

2. Increase efficiency 

Allowing your inventory management software to automate repetitive inventory-related and order management tasks can save you and your team time and reduce errors. Additionally, you can also create inventory forecasts and shipping labels.   

3. Make data-driven decisions with more confidence 

For multichannel businesses, you need reliable data-driven information to understand how your business is performing as a whole and for each individual sales channel. 

Decision-making becomes a more manageable task when you have all your information in one platform, like Finale. The data helps you understand how each channel is performing, so you can focus your resources on the right places and products. Additionally, you can base your decisions on records that you have from all your businesses. Plus, no need to spend hours whipping up complex pivot tables. 

4. It can grow with your company

There is nothing worse than spending months figuring out and getting a tool all set up only to realize you’ve already outgrown. That’s unlikely to happen with a powerful inventory management software, like Finale, that also happens to have advanced ERP functionality built-in. This means it can handle multiple warehouses and many sales channels. 

5. It will save you money 

Chances are, if you are still relying on Shopify’s built-in dashboard or homemade Excel spreadsheets, you had a lot of fear around being overstocked, selling more than you had in stock at any given time, or not ordering the right amount of each SKU based on actual demand.  Having the right inventory management software will solve a lot of those problems. 

6. Streamline the inventory return management process

Customers expect a smooth exchange and return process. But creating this experience can be difficult for businesses that struggle to organize products behind the scenes.

Fortunately, you can say goodbye to all the complicated logistics of returning inventory management with the tools provided by Finale Inventory, regardless of what you sell. For instance, you can easily track inventory that has been returned or exchanged, maintain separate inventories or merge them as needed, handle multiple warehouses and shipping centers, adjust inventory immediately, and more. 

7. Reduce manual errors with the barcode inventory management solution

Finale Inventory’s easy-to-use turnkey barcode solution can make your inventory count more accurate. For instance, the barcode options can help you optimize your inventory and reduce manual errors. As a result, you can avoid costs and mistakes that may cause you to lose customers. 

Additionally, the barcode systems can save you time, money and reduce (or eliminate) handwritten or paper inventory tracking.

Should I set up Finale myself or work with an integrator? 

If you have experience with inventory management software and feel comfortable setting up integrations, you may be able to set up Finale Inventory on your own. However, given that Finale is a mini-ERP, there are a lot of ways even a pro can mess up their setup.

That’s why it may be helpful to work with an integrator. Or, at the minimum, set it up yourself but consult with an eCommerce accounting firm, like Bean Ninjas, to make sure inventory accounting is synced correctly with your cloud accounting software.

Still not sure which route to take? We can help. Schedule a free call with a member of our team here. 

Posted By

Wayne Richard

Wayne Richard

Wayne is a management accountant who forged a 15-year career with tech heavyweight Hewlett Packard before starting his own cloud accounting firm in Tucson, Arizona. Fate (and the Internet) brought him to discover Bean Ninjas via a blog post. Two years later and Wayne’s involvement with Bean Ninjas had grown from a blog comment to contractor to equity partner. When Wayne isn’t managing a global team and equipping entrepreneurs with the financial tools they need to enjoy business success and lifestyle freedom, he’s being an everyday superhero to his wife and five children. Wayne is Bean Ninjas resident e-commerce expert.

Related Articles