So, you were looking for a solution to streamline the many operational processes related to your e-commerce store and came across Shopventory. Now you want to know what is Shopventory and how it works to help your business achieve growth. In this blog post, we will give you a detailed explanation of Shopventory and how to get started.
We will also explain the different features offered by Shopventory and its different services. Finally, we will give you our opinion on using Shopventory and whether or not we recommend it.
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What is Shopventory?
Shopventory is an inventory management system that helps businesses keep track of their stock levels, sales, and orders. It offers a variety of features such as automatic order tracking, barcode scanning, purchase orders, and real-time reporting.
Shopventory started operating in 2013 and serves thousands of merchants in more than 60 countries all around the world. The company is located in Denver, Colorado, US.
How does Shopventory work?
Shopventory is a cloud-based platform that can be accessed from any device and location. You don’t have to install any kind of software to use its features. It is compatible enough to be operated from mobile phones/tablets.
To start using Shopventory, you can create a free trial account and access all its features for 30-days.
There is no requirement of inputting any payment details. Once you have created an account with Shopventory, you can integrate your store/apps and allow Shopventory to sync the data automatically.
Details of your business, such as your company name, address, and contact information will be required to register successfully.
You will then be required to create store location (s). The location information is used for integration purposes. The information also comes in handy to automatically connect your POS/e-commerce store basis the location management setup. Once the setup is complete, you can start using Shopventory to track your inventory levels, sales, and orders.
The different features of Shopventory can be helpful for businesses of all sizes however, small businesses are most likely to get more benefits from using Shopventory to track their inventory levels and sales. Some of its key features include:
Integrations – Now, Shopventory doesn’t have a big list of integration channels. Instead, it works seamlessly with some of the most reputed and noteworthy POS and e-commerce networks that I think are highly utilized by merchants.
The list includes Shopify, BigCommerce, and WooCommerce for e-commerce purposes and Clover, Square, and PayPal Here are other options to use for POS scenarios. It also supports integration with Google for Retail, Stripe, and Quickbooks online.
Performing integration is directly related to your store location. You can create locations manually and copy the inventory or if your POS is enabled for location management Shopventory will automatically pick the location and sync the inventory.
Once your locations are added you can select the POS/e-commerce platform and enable syncing. This will import the products and the quantity to your Shopventory software. The good thing about Shopventory integration is it supports the end number of POS devices for each location.
Inventory management – Shopventory can help you track your inventory levels and sales so that you always know what is in stock and how much money you are making.
While the inventory synching is automated, Shopventory also lets you create new inventory from the scratch. This can be done manually one by one or through bulk upload. You can create a new product, a new catalog, and even a new location.
Bulk upload of items works with Google spreadsheets which means you just have to copy paste and upload the file. This is helpful in saving valuable time and tedious effort of handling files at your end.
The spreadsheet can be further used through a bulk upload tool to update and sync the whole catalog to all the sales channels. When it comes to editing, you can modify product names, categories, descriptions, stock count, shipping, and tax rates.
In terms of tracking, Shopventory will automatically track any orders that are placed on your website and will update your inventory levels accordingly. You can set customization alerts to know which of the products need re-stocking and avoid under-selling situations.
You can also scan barcodes with your phone or tablet to quickly and easily add products to your product catalog. This process is part of the Shopventory inventory count. Additionally, the counting can be done using a digital spreadsheet, or manual paper. There are multiple reports on offer to track and reconcile your inventory.
Purchase Orders – Shopventory allows you to create purchase orders for the products that you need and will automatically keep track of when those products are received and sold.
The purchase order process from Shopventory goes hand-in-hand with the list of vendors you deal with. The system has vendor-specific fields to store the details in a database which is then used to link your products and generate purchase orders.
This is one of the best alternatives to manually handling your vendors and creating purchase orders separately. Shopventory lets you link multiple vendors to a single product which makes creating purchase orders much easier.
Reporting – Shopventory offers a variety of reports that can help you track your business’s inventory and sales.
The list includes reports related to sales, revenue, transactions, categories, and inventory. These reports can be customized and filtered basis dates, and location. You can download the reports in PDF, and CSV formats.
You can also view the data on the Shopventory dashboard. The screen covers sales, profits, products sold, and stocks (including the ones that become redundant) charts. The dashboard displays low-stock alerts as well.
Shopventory offers a variety of pricing plans that can fit the needs of businesses of all sizes. There is a 30-day free trial post which you can choose the following paid plans to continue using Shopventory features:
– Standard Plan: This plan costs $99/month and includes access for 2 users, 2 locations set up, 3 years of order history, and reporting along with unlimited transactions.
– Professional Plan: This plan costs $249/month and includes access for 5 users, 5 locations set up, unlimited order history, reporting, and transactions.
– Elite Plan: This plan costs $499/month and includes access for 10 users, 10 locations set up, unlimited order history, reporting, and transactions.
– Enterprise Plan: This plan costs $999/month and includes all features of the Elite plan along with access to 20 users and 20 locations set up.
All the pricing plans of Shopventory offer premium features as standard benefits which are really nice from a testing perspective. The pricing is very competitive and affordable. You get two months free if you opt to pay annually. Email, chat, and in-app support is included in all the pricing plans.
Is Shopventory worth its pricing?
Shopventory is good inventory management and reporting solution for small and medium-sized business owners. There is no denying the fact that Shopventory offers some of the best (if not advanced) automation tools to integrate and track your inventory, and sales.
According to the users, the platform is easy-to-use with an intuitive dashboard, navigating through the fields, and tabs are smooth. Its inventory management tools are useful and do provide relief in terms of creating, updating, and reconciling the stocks.
However, where Shopventory disappoints is with the number of platforms it integrates. Even though, a majority of online sellers use the Shopventory supported platforms the numbers are too low compared to Multiorders, Storeautomator, or Skubana. These platforms not only provide multi-channel integrations but much better-advanced automation features for inventory management and order fulfillment processes at flexible pricing.
That being said, Shopventory is still a powerful and effective solution that provides value for your money. It is one of the best-rated solutions in the online selling industry on different review platforms.
Can you make money with Shopventory?
There is no direct way to make money with Shopventory since it does not have any affiliate/partner program.
Shopventory does help its users manage inventory with ease. Creating a product list and updating it manually take lots of time.
Most online sellers/merchants need to focus on increasing their sales channel and product offerings which take a backseat owing to the time consumed in tracking and managing the inventory.
Shopventory excels in automating inventory-related tasks and helps you find all the necessary details through its in-depth reporting which in the end is instrumental in increasing sales and revenue.
- Ease of use – The initial setup for Shopventory is easy. The onboarding is smooth, Shopventory dashboard is user-friendly. The navigation and feature tabs are easy to find. All in all, the interface is simple and users without any experience or knowledge will not find any major difficulty in using the software.
- Inventory management automation – This is one of the highlights of using Shopventory. It makes handling various tasks of inventory easier. You can easily import your existing product details into the software using the bulk upload feature. The same feature can be used to edit/customize the product details. You can control the low-stock instances by setting up customizable alerts. You can always remain in control of your inventory levels through Shopventory’s detailed reporting and analytics.
- Customer support – Shopventory’s customer support is praise-worthy. Finding answers and solutions to your queries/issues is easy. The support team is very responsive and genuinely replies to its users promptly. From the learning perspective, there is a dedicated knowledge-base section where you can find many blogs, how-to guides, and video tutorials. Contact support is offered through email, live chat, and phone.
- Limited Integrations – The integration options are too far and few. Shopventory does target noteworthy POS and online platforms like Shopify, WooCommerce, Square, etc. but adding another set of major online players even through third-party integration can help it attract larger businesses.
- Some may find Shopventory expensive – Users with a tight budget and small business portfolio may find Shopventory a bit expensive. Remember, there is no free version and it offers a free trial that lasts for 30-days. The starting pricing plan will cost $99 a month with limited features. An ideal plan to use Shopventory is its Professional plan which costs $249 a month and may not be affordable for everyone.
Conclusion: Is Shopventory recommended?
Shopventory features are impressive and powerful enough to improve the inventory management process and monitor sales and revenue. It may not be a big player in terms of integration but has effective automation tools to keep your business on track.
Overall, using Shopventory can be beneficial for businesses of all sizes especially, small and mid- section. If you fall in these categories, then Shopventory is a good option for you.
Larger businesses may not be convinced by the lack of integration and limited automation features of Shopventory.