Having a route accounting system can make a world of difference in your distribution business. A good system can help you grow your business, keep things flexible, and stay up-to-date on the latest changes.
Of course, it’s not enough to have just any route accounting system. You’ll want to make sure that you choose the right one. So how do you do that? One thing you should do is take your time and do your research. Instead of rushing into your decision, make sure that your new software has all the features that you need. Second, keep an eye out for these specific traits. They’ll help you keep your routes efficient and effective.
Sales, Inventory, and Financial Tracking
First, think about the basics. Your route accounting system should let you track sales, inventory, and financials. This is the bare minimum for any route accounting software. The more your system tracks, the less you have to worry about.
This tracking is important for a couple of reasons. For one thing, it helps you stay efficient and organized, and it minimizes mistakes. When you stay on top of the details, you can make sure that you’re running your business effectively.
For another thing, accurate sales, inventory, and financial tracking can take a big weight off of your shoulders. When you know that your tools provide accuracy and up-to-date tracking, you don’t have to make those updates and track those numbers yourself. As a result, you can focus on other things that you may have been putting on the back burner.
Financial Reporting and Cash Flow Management
A similar principle applies to financial reporting and cash flow management. Reporting is an important part of running a distribution business. When you have accurate reports, you can notice patterns in your data. Those reports can help you make adjustments as needed to make your business as effective as possible.
Cash flow management is equally important. Cash flow can become overwhelming if you don’t have the right system to deal with it. However, if your route accounting system helps you manage your cash flow, it can remove some of that stress and allow you to maintain a more balanced focus.
Sales and Promotion Options
Your route accounting system should also allow for sales, promotions, and similar discounts. This kind of system requires a lot of flexibility, which is something that not all software options have.
Still, you’ll want to make sure that your system does have rooms for sales and promotions, because sales and promotions are some of the best ways to gain new clients and grow your business as a result. Sales, seasonal discounts, and two-for-one deals give potential clients the incentive they need to check out your business. Often, when potential new clients are on the fence about a decision, it’s things like promotions that nudge them in the right direction.
Customization and Flexibility
Speaking of things that require flexibility, this is a good overall trait to look for in your new route accounting system. In the distribution business, things change all the time. The businesses that adapt and adjust are the businesses that thrive no matter what the market looks like.
If you want to run a flexible business, then you need tools that allow for flexibility. When it comes to your route accounting system, some options are better than others. As you do your research, ask yourself how certain systems build flexibility into their products.
When your system has flexibility, you can also rest assured that your system is conforming to your business. Too often, business owners have to adjust their practices to conform to their software, when it should be the other way around. Flexibility will help ensure that you and your company get exactly what you need.
Next, look for simple and straightforward reporting from your route accounting software system. Reporting matters when making decisions. The results of your reports can make a big difference when determining one decision over another. That means that your reports should be clear, simple, and fast.
When you look for route accounting software, look specifically at your reporting options. Do these systems make reporting easy? If so, then you may have a solid candidate.
Your Own Needs and Preferences
Of course, you’ll have your own specific preferences when choosing a route accounting system, and those preferences aren’t any less important than the items listed above. Decide what you need from your software. What tools and features would serve your business best? Make a list of your company’s route accounting needs, and then look for systems that specifically mention those features.
Once you choose your perfect route accounting system, you’ll notice a big difference in the way you do business. When a system meets your needs, everything flows smoothly.
Looking for a route accounting software that features everything listed above? eoStar’s software features all of the above and much more. Get in touch with eoStar today to get started.