It wasn’t an easy task for manufacturers to buck the headwinds of COVID-19. The statistics state that 89% of manufacturers experienced a drop in sales, material price increases, and other problems. If companies are to survive this disruption, they have to adapt to the new pandemic-driven norms. And this paved the way for digital opportunities.
With accelerated digital initiatives, a lot of companies incorporated technology into their workflows. This allowed the parts of the manufacturing workforce to perform their duties remotely. Seeing the benefits that such a setup presents, 61% of manufacturing executives plan to build a hybrid production model. This will lead to the industry gaining resiliency and flexibility to outlast the ongoing pandemic.
Part of this digital movement is accounting. The accounting industry itself has been making strides toward digitalization to curb COVID-19. According to recent accounting statistics, 60% of large firms are planning to invest in technology. Meanwhile, 49% of small firms already have a purely remote workforce. At the heart of this digital movement is accounting software, which manufacturers have begun to utilize.
Best wholesale accounting software
For wholesale distributors, the benefits of implementing software can feel like going from struggling to make instant noodles every night to delivering a five-course meal with ease. I’ll state the obvious — distributors have a tough job to do. Implementing distribution software can make the range of workflows that you deal with daily much simpler, so you can go from working extra hard to complete a smaller amount of tasks to automating functions and conducting more business than before. Sounds pretty great, right? It is. However, choosing the right solution and determining the functionality that you need out of your software program is key in order to actually reap the benefits associated with these systems.
In this article, we will take a look at the best wholesale distribution software on the market today, along with analyzing some of the common features and benefits of these solutions.
Compare Top Wholesale Distribution Software Leaders
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What is Wholesale Distribution Software?
Wholesale distribution software is a solution that takes important business processes such as shipping, financial management, manufacturing, finance and CRM, and integrates them into a common package where data is shared. This allows for the automation of workflows and for operations to be conducted more quickly. For example, you might wish to set up automatic reordering from a specific vendor when inventory levels meet a certain threshold. By maintaining data from across the organization in a centralized location, materials could be reordered automatically, reducing required manual effort so employees can work on other tasks.
Best Wholesale Distribution Software
QuickBooks Commerce
Overview
QuickBooks Commerce is a cloud-based distribution platform that’s well-suited for small and medium-sized wholesale and e-commerce companies. QuickBooks Commerce customers operate in a variety of industries, such as electronics, food and beverages, fashion and healthcare. The vendor offers assistance through a portal, where customers can ask questions and representatives provide helpful answers. There are four levels of support – Founder, Lite, Small Business, and Business. The cost starts at $39/month per user.
The program itself combines a variety of workflows, including manufacturing, sales, order management, CRM and distribution. The system can track different business-relevant KPIs and enables you to monitor aspects such as account balances, orders, late payments and transaction history. QuickBooks Commerce automates the order routing process by aligning sales and inventory information. EDI software integration is also available through the B2B E-Commerce portal.
QuickBooks Commerce offers a range of applications that help streamline warehouse operations, such as printing barcode labels, receiving stock and taking stock. The Mobile App provides a visualization of data to help monitor inventory levels, contact customers and manage orders. The solution also contains a built-in payment gateway that’s integrated with sales orders and can, in turn, develop invoices based on past orders.
Benefits
Batch and Expiration Tracking: This program enables users to keep track of product expiration and order fulfillment to decrease product recalls, leading to a boost in revenue. You can assign products to inventory by buckets and create/edit products in batches. The system contains a Stocktake tool, which enables you to adjust and transfer stocks. You can also trace products by customer and see inputs on expiring batches with this tool.
Order Fulfillment: QuickBooks Commerce offers rapid order fulfillment through the execution of workflow action items. The program can integrate with ShipStation and other third-party add-ons to send shipping specifications and returns to 3PLs.
Accounting: The accounting process is completely automated through QuickBooks Commerce’s integration of inventory and order management workflows. Multi-currency support is included and can help users develop accurate conversions. The solution can also generate split invoices and integrates with Xero for increased financial management functionality.
Customer Relationship Management: The CRM tool in QuickBooks Commerce can automate the discounting process by collecting customer information such as postal addresses, billing details, average purchase types and purchase sizes. Users have role-based access to customer and supplier information, helping in shipping management and the creation of default custom addresses for customers.
Multi-Channel Inventory Management: You can manage orders from all sales channels in a centralized location through this system. The program supports sales from any country and in any currency. You can eliminate stock shortage through synchronized stock information.
Reviews: N/A/100
Price: $$$$$
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Company Size Suitability: S M L
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NetSuite
Overview
NetSuite is a cloud software solution that centralizes a variety of operations to automate and streamline essential business processes. Businesses of all sizes and in a variety of industries, such as energy, financial services, advertising, hospitality, manufacturing, retail, logistics and transportation, use this system. Some of the program’s key modules include supplier and vendor relationship management, order fulfillment and inventory tracking.
The order and billing management functionality in NetSuite centralize finances, sales and fulfillment to help manage quotes and reduce billing errors. Warehouse management is available for multiple locations to optimize, configure, define and store inventory. NetSuite has more than 16,000 customers from more than 200 countries and territories, meaning it’s an effective option for global organizations.
Benefits
Order Management: NetSuite controls the process from the time a sales quote is entered to the time an order is fulfilled. The program can manage quotes and reduce billing errors through the integration of workflows such as finance, sales and fulfillment.
Workflow: The program contains prebuilt functionality for omnichannel engagement and includes financial management applications that are configured with marketing support.
Source Management: This tool uses supplier performance data to effectively manage suppliers. NetSuite offers a real-time supply portal that centralizes the purchasing process and ensures compliance. The system also contains dynamic forecasting and operational planning functionality, with the algorithm continuously reforecasting based on any deviance in data.
Warehouse Management: Multi-warehouse support is available through this tool. The solution can optimize, store, define and configure inventory through aspects such as barcode labeling, warehouse activity dashboards, expiration tracking and shelf-life tracking.
Customization and Visibility: Organizations can view information related to customers, items, orders and inventory in a centralized location with NetSuite. The program can be configured to meet unique business needs by setting rules and managing requirements through the built-in automation capabilities in the solution.
Reviews: 68/100
Price: $$$$$
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Company Size Suitability: S M L
SYSPRO ERP
Overview
SYSPRO ERP is especially beneficial to companies that have a large distribution or manufacturing component in their day-to-day operations. The solution is modular and enables organizations to create a program that adheres to their unique needs. Some of the modules that wholesale distributors might find helpful are the invoice management and warehouse management capabilities. The system also includes secure electronic data exchange, paperless invoicing and automated 24/7 order placement and acknowledgment.
The program enables users to track and process orders to aid in the procurement of materials from local and global suppliers. The solution can also optimize customer service and inventory levels, streamline workflows and share information that’s stored in multiple locations through electronic collaboration.
SYSPRO ERP has customers across six continents and offers access to more than 1600 channel and support partners. The system is suited for companies of various sizes and is available for deployment both on-site and through the cloud. Its customers span across industries such as manufacturing, electronics, chemicals and fertilizers, automotive parts and accessories, food and beverage, medical devices, packaging, industrial machinery and equipment, rubber and plastics.
Benefits
Lot Traceability and Serial Tracking: This tool enables you to trace products from their point of origin to their final destination. Visibility of materials is available across different virtual and physical locations. This tool also enables users to analyze and trace the source of any defects that occur.
Order Management: SYSPRO ERP allows organizations to collaborate electronically with suppliers and customers. The system streamlines the order-to-delivery process, and users get access to visibility of all operations. Additionally, the sales order module assists with order fulfillment and processing.
Sales Analysis and Optimal Pricing: The sales analysis tool helps to predict sales trends of products, determining how much revenue is gained per item. This feature also helps measure the profitability of different customers.
Lean Inventory Management: SYSPRO ERP’s inventory optimization capabilities automatically monitor KPIs and provide a balance between inventory investment and services.
Cost Tracking: This feature identifies and tracks cost elements of products. It also includes information related to backorders, order policies and inter-warehouse lead time data.
Product Information: SYSPRO ERP contains an integrated environment for various products in single or multi-warehouse spaces, allowing for the management of large inventories. This tool can also assist in executing and planning warehouse replenishment along with order fulfillment requirements.
Reviews: 77/100
Price: $$$$$
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Company Size Suitability: S M L
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Acumatica
Overview
Acumatica is a software solution that centralizes essential business functions such as finance, distribution, field service, manufacturing and CRM. The program is available for deployment both on-site and through the cloud, making it a versatile option for a range of companies, especially those that are small and medium-sized. Some of the industries it serves include manufacturing, technology, software, service, e-commerce, retail and distribution. Personalized expert support is available to customers, along with training opportunities.
The Acumatica Distribution Management Suite is integrated with the Financial Management Suite to create a robust distribution program. The system manages the purchase requisition-to-payment and quote-to-cash processes. More than 5000 customers currently use this solution.
Benefits
Requisition Management: This solution can organize distribution processes that are complex and involve multiple suppliers and products. It can obtain bids, gather requests, manage purchases, fulfill orders, and create and approve quotes for external or internal needs.
Advanced Inventory Management: You can view inventory information in real time through this system. Some of the metrics that can be observed minute-to-minute include reordering quantities, inventory in transit and inventory costs. The program also supports multiple warehouses, inventory sub-items, lots, bin locations and expiration dates. Acumatica takes charge of system-wide inventory to manage distribution operations and any incurred costs.
Purchase Order Management: Online sourcing is available through this program to assist with the procurement process from obtaining vendor quotes to paying invoices. It can build, submit and manage purchase orders from various locations along with developing a variety of approval paths that adhere to current operational processes.
Sales Order Management: The sales order management tool coordinates sales processes such as fulfilling sales orders, entering quotes, tracking prices, creating shipments, checking available inventory and applying discounts, all in a centralized location. It also offers real-time customer service data to assist the sales and service departments.
Financial Management: Acumatica’s accounting suite is integrated with the distribution management, customer management, manufacturing management, project accounting and field services management product suites offered by the vendor.
Reviews: N/A/100
Price: $$$$$
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Company Size Suitability: S M L
JD Edwards EnterpriseOne
Overview
JD Edwards EnterpriseOne is a cloud and on-premise software option that includes project management, financial management, asset lifecycle management, CRM, manufacturing, order management, reporting and business intelligence, supply chain planning and logistics functionality. The program is compatible with operating systems for Windows, Mac and Linux. Some of the industries that JD Edwards EnterpriseOne customers are in include chemical, healthcare, industrial manufacturing, cosmetics, food and beverages and real estate.
This solution is catered toward small- and medium-sized companies, along with large international discrete manufacturers. JD Edwards EnterpriseOne can be run on a range of databases, hardware and operating systems. The system ultimately offers a low Total Cost of Ownership (TCO) and allows users to configure it to meet their unique needs without having to go through the process of writing code. The program offers a manufacturing and distribution module that contains multi-channel order-to-cash visibility through order processing control with an end-to-end lifecycle.
Benefits
Supply Chain Planning: The supply chain planning feature includes order promising, demand management and value chain planning. Additionally, the program is prebuilt with connections to supply chain planning modules that add extra capabilities.
Order Management: JD Edwards EnterpriseOne gives users visibility and control over the order tracking lifecycle along with streamlining order processing. Some of the activities that the program controls include accounts receivables and sales management. Some additional aspects contained in this module are multiple sales and delivery scenarios, themes, distribution networks across various companies and a range of supported currencies.
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Financial Management: Localizations, legal reporting and payment systems for more than 40 countries are supported through the financial management tool. Integrated financial reporting is also offered in addition to expense management, business intelligence and fixed asset accounting functionality.
Architecture: The architecture of JD Edwards EnterpriseOne contains built-in modules for database systems, reporting tools and additional third-party and web server platforms.
Adaptability: With this solution, you can leverage customized analysis through the formatting of transactional data into graphs, charts, tables and lists. Additional adaptability is realized through support for different currencies, languages and technology standards.
Product Visibility: JD Edwards EnterpriseOne allows users to look at product and material statuses during the manufacturing, procurement and distribution processes.
Interoperability: The system integrates existing databases, hardware and software with third-party and legacy products.