Announcement posted by Neto 27 Feb 2017
Sydney, 27 February 2017 – Neto, Australia’s first fully-integrated commerce platform, today launched its Advanced Inventory module to help customers end costly breakups between online sales channels and supply chain management.
Advanced Inventory allows e-tailers to manage purchase orders, adjust stock levels, and complete stocktakes all from within Neto, complementing the platform’s existing inventory management functions including real-time stock tracking, low stock alerts, and warehouse and suppler management. Recent Neto research found that 17% of Australian SMBs use pen and paper or Excel to manage inventory, with 16% relying on sight. Neto consolidates all inventory management processes on the same control panel that runs retailers’ online, retail, and eBay stores, minimising the need for costly external integration with third-party platforms.
“Recent data from our customers showed that over 53% of retailers are spending multiple hours managing inventory each week. Before Neto, these retailers had to manage a raft of relationships between their stores and numerous third-party platforms for things like purchasing, stocktake, and warehouse management,” said Ryan Murtagh, CEO - Neto. “And if just one of these relationships went sour, or the retailer wanted to take things up a level in terms of volume or market reach, the resulting breakups would disrupt the entire supply chain.
“At Neto, we don’t see why inventory should be run separately to all other parts of the retail process, which is why we’ve always allowed retailers to manage their stock from start to finish through our platform, in total harmony with the rest of their sales, marketing, and compliance. Advanced Inventory completes the omnichannel value chain, allowing retailers to sell anywhere and manage everything without paying for and managing the upkeep of numerous external service providers.”
Additional new functions within Advanced Inventory include instant stock valuation, real-time stock adjustments, and one-click Purchase Order creation for both Australian and overseas suppliers. Despite its all-in-one approach to sales channel and inventory management, Neto also comes with full integration to Xero, the financial platform of choice for Australian SMEs, with compatibility set to extend to other cloud-based accounting platforms like Quickbooks and MYOB AccountRight in future releases.
“A messy relationship between sales channels and supply chains will inevitably spill over into lost profits and reduced growth potential,” said Murtagh. “By consolidating inventory management with all other parts of the omnichannel value chain, we’re helping Australian retailers to put cross-platform breakups in the past and focus on cultivating a perfect match between their stock and their customers.”
Neto Advanced Inventory is available to all customers on large plans and above. Neto’s standard inventory features – including real-time stock tracking, reporting, and warehouse and supplier management – are available to all customers.