7 Common mistakes wholesalers and distributors make

Business models such as ecommerce and direct-to-consumer (DTC) are giving a tough time to wholesalers as well as retailers. You may already be struggling with razor-thin margins, and during such situations committing mistakes can cost you dearly. You need to be on top of your game.

This article will share some common mistakes that wholesalers and distributors make while running the business. Understanding these mistakes is a stepping stone to avoiding them.

 

Some common mistakes that wholesalers and distributors make

1. Using outdated methods

It’s surprising to think about how many businesses still rely on manual approaches, like using pen and paper to manage their businesses. Although pen and paper do have their own merit, for starters, they don’t need any electricity to run. However, papers can be easily misplaced or stolen, which you don’t want. Storing them can be a headache too as it will take significant space in your office premises. Plus, it’s not convenient to share them with your business partners.

While some people have migrated to digital forms like spreadsheets, it’s not enough to be successful today. Spreadsheets can get really messy, and you’ll have to spend a considerable amount of time updating them regularly. Plus, it’ll take digital storage space, which is risky if your storage drive gets corrupt.

The best solution is to use a cloud-based inventory management solution. The data gets updated in real-time, so you get accurate visibility over your inventory. As the data is securely stored in the cloud, there’s no risk of losing it.

 

2. Sales representatives lacking information and resources

Sales is the primary revenue generating activity for your wholesaling business. Your sales representatives are entrusted with the responsibility to drive sales, and thus, they must be equipped with all the right tools and knowledge. They need to have full visibility over your inventory and should be well versed with your product and promotional information.

It’s best to also acquaint them with your business process so that they can confidently answer queries about delivery time and product returns. Failing to do this will affect your customer service, and you’ll lose out on loyal customers.

You can leverage Cin7’s inventory management solution to empower your sales team. They can easily get data about your customers, suppliers, and all necessary product-related information. The features of Cin7 aren’t just limited to inventory management. You can also use it to streamline your sales quoting process. Cin7 allows you to offer accurate quotes/prices to your B2B customers and also set the payment terms. On top of that, you can receive payments and generate invoices.

Cin7 is your one-stop solution for managing your sales and inventory.

 

3. Inadequate customer management

Customers can make or break your wholesaling business. You need to ensure that you manage them well and satisfy their expectations so that they continue doing business with you. It is necessary to take their feedback about their experiences with your service, and you should improve accordingly.

You should be fair in your treatment of your business customers irrespective of the revenue that they generate. On top of that, you should also regularly communicate with your customers. Thanks to digitalization, this process is easier than it has ever been. You can use email sequences to broadcast information to your customers so that they feel informed and valued. You can also segment your customer base and then target them effectively with specific messaging in emails.

 

4. Monitoring stock levels

Being a wholesaler, you deal in large volumes of stock. It can be challenging to monitor your stock levels when you’re dealing with multiple buyers and deliveries being made daily. But you can’t afford to lose track of inventory as poor inventory management can lead to situations such as understocking and overstocking (both being undesirable).

You need clear visibility about when the items enter and exit your warehouse. This way, you’ll be able to track and share inventory updates with your customers. Cin7 can help you with inventory control as you get real-time visibility over your inventory in the warehouse. This would help in optimizing your processes to ensure a smooth workflow.

 

5. Ignoring business relationships

In the race to raise your profits, you shouldn’t overlook business relationships. Relationships are necessary, especially in the B2B arrangement that you deal with. Positive experience with customers can lead to more business opportunities as they can endorse you to their business partners. This is the key to long-term success.

Better relationships will ensure that your customers stick even through market fluctuations. Do your best to build these relationships by offering great customer service, making transactions convenient, and fulfilling orders quickly. Good relationships can also help in better negotiation with the suppliers so that you can lower your costs.

 

6. Not monitoring the cash flow

Healthy cash flow is the fuel for your business. Offering credit to your customers can help with increasing your sales. However, overextending the credit is risky for your business as it can lead to defaults.

You should thrive to proactively remind your customers about their payables and you should make it easier and more convenient for them to pay their invoices.

Cin7 can generate sales reports using which you can not only gauge the financial health of your business but can also ascertain your inventory’s performance. To sweeten the pot, we have integration with several accounting softwares such as Xero and Quickbooks.

 

7. Not following up with your customers

The relationship between you and the customers shouldn’t end after finalizing the sale. You need to nurture them so that you make repeat purchases.

You should follow up with your customers after they receive their offerings to check whether everything happened as per their expectations or not. You can send a follow-up email after the product is delivered.

 

Conclusion

Avoiding these common mistakes will help you improve your business practices. As you look for solutions to some common mistakes, consider new software, like Cin7’s inventory management, as part of your solution.

Book a demo now.

How to execute a year-end inventory count

Whether you’re running an auto body shop, a law firm, or a retail store, doing a year-end inventory count helps your business close the books on the past 12 months and organize yourself for the year ahead. In fact, the year-end inventory count is necessary for successful inventory management throughout the year. It allows you to clean up records and gives your business verified data to analyze.

Since retailers have a lot of inventory to manage, counting inventory correctly is crucial and allows you to make informed buying decisions later. Learn how to execute a year-end inventory count and how your annual count can help forecast demand for the year ahead in this article.

 

What is a year-end inventory count?

A year-end inventory count is a physical count of all the inventory on hand at the end of the year. The count is performed to verify that the physical inventory matches the numbers in your inventory management system.

A year-end inventory count is different from an inventory cycle count, which audits a smaller portion of inventory. While a cycle count allows you to monitor your inventory by sampling your inventory throughout the year, a year-end inventory is a physical count of everything you have on hand at one given point in time.

 

How do you conduct a year-end inventory count?

These are the steps that you need to follow for inventory counting:

  • First and foremost, you need to plan the day for conducting inventory count. It’s crucial to pause your warehousing operations while you do perform the counting so that you get an accurate snapshot of your inventory. You should plan a day that causes minimal impact on pausing the operations.
  • Once you finalize the date, you should form the team who will perform the stock counting. It is important to train them about your counting process and acquaint them with the warehouse’s premises. Dry runs can be organized a few days before the actual counting day.
  • You should also prepare your warehouse for the stock counting process. It should be thoroughly cleaned, and steps should be taken to ensure that there’s no scattered inventory. If there are boxes lying around the warehouse, it will slow down the workers who are counting.
  • The warehouse should be organized, and the areas (count zones) should be divided amongst the counting team so that everyone knows their responsibilities.
  • It’s crucial to equip your team with the right tools for counting. For manual counting, you can use counting tags. If you are using tags, then it’s best to let your team work in pairs so that one person can count the inventory while the other can note the values in the counting tag and stick it near the inventory. It’s best to get the counting tags signed by the respective team as it gives you clarity about the person associated with counting for a specific section.
  • To cross-check the accuracy of the counting, you can personally examine the areas to cross-verify the values mentioned in the counting tags. Otherwise, you can allocate members from other teams to cross-check the tag values. Cross-checking is crucial to get an accurate representation of your inventory. In case your inventory is also stored at other locations, you should coordinate to get the accurate values from those locations as well.
  • Performing inventory counts using manual sheets and counting tags can be time-consuming and prone to human errors. Using an inventory management software like Cin7 can be of great help. Instead of using tags and sheets, you can use barcode scanners to scan the inventories on the shelves. The software reconciles the inventory values with the ones already present in the system. This way, you can easily gauge the discrepancies in the inventory that’s physically present with you.

 

Why do year-end inventory count?

The year-end inventory count is essential because it ensures the stock you have on your shelves matches your records. By getting an exact look at your inventory, you can comply with tax requirements, manage corporate audits, and offer accurate data to your accounting team.

Once you complete your inventory count, you’ll have the data you need to complete an annual financial analysis. You also get the data you need to detect inventory shrinkage and forecast how much inventory you’ll need in the year ahead. On top of that, you get the chance to get inventory organized for the new year.

Knowing your year-end inventory allows you to

  • Get a better understanding of what products you have.
  • Hold accurate inventory records for accounting purposes.
  • Gain insight into products that don’t sell well that you shouldn’t order in the future.
  • Understand which products require a new selling strategy.
  • Know the demand and profitability for expansion consideration.
  • Consider adjusting periodic automatic replenishment (PAR) levels for top-selling products.
  • Determine the cost of goods sold and total net income.
  • Make business decisions based on data instead of intuition.
  • Analyze pricing strategy and identify room for improvement.

 

Does your business have inventory shrinkage?

Inventory shrinkage occurs when there’s less physical inventory than what’s listed in your inventory records. Shrinkage occurs due to human error, damaged stock, vendor shortages, lost inventory, or stolen inventory. It can drastically affect profits and is a problem that always needs to be investigated further. Businesses usually uncover inventory shrinkage as they do their year-end inventory counts.

How to handle inventory shrinkage

If you uncover inventory shrinkage during your year-end inventory count, your team should look for more information about what happened. If you are using inventory management software, you can examine past inventory records to determine if there are any trends that need investigation. Significant, widespread shrinkage can indicate theft or fraud, while one-off mistakes tend to reveal clerical errors. Damaged goods are self-explanatory.

Once you uncover and investigate the cause of inventory shrinkage, you can put guardrails on processes to prevent further loss. Some common preventive measures include:

  • Tightening security where inventory is stored.
  • Installing cameras or locking up high-value items.
  • Training employees about proper inventory counting.
  • Allowing only trained employees to accept and inspect new inventory.
  • Reviewing daily transactions on inventory apps.
  • Verifying purchase orders, invoices, and delivery slips when new inventory arrives.
  • Checking inventory shrinkage via cycle counts.

Discovering inventory shrinkage isn’t fun — but it’s a wake-up call for many businesses.

 

What if you have too much inventory?

Once you complete your year-end inventory, you might realize that you have more physical inventory than expected. If you have a lot more inventory than you need or want, you may have to figure out how to deal with the surplus. The first step is to determine if the excess inventory is still good to sell. Then you can adjust plans, orders, and budgets accordingly.

Once you figure out what your business needs for the year ahead, it’s time to get creative. What kind of promotions or sales can you have? What items should be sold at a discount? There may also be items in your inventory that can be repurposed or donated. If you donate excess inventory, talk to your accountant about writing them off for tax purposes.

Finally, you should talk with a liquidator about buying excess inventory. It may not be very profitable, but you can cut losses, clear up space, and move on.

 

Using year-end inventory to predict next year’s demand

One of the best reasons for conducting year-end inventory counts is to understand how your business used (or didn’t use) items over the past 12 months. A detailed snapshot of available inventory helps your business forecast demand for the year ahead.

By reviewing what hasn’t sold, you can plan sales, promotions, and marketing campaigns. These strategies can help you move old inventory and lets you focus on restocking only what your customers want.

 

Cin7’s inventory management software simplifies inventory counts

Cin7 inventory management software allows your business to track inventory using modern technology and powerful automation features. Cin7 is the best choice for inventory management software because it helps save you time, money, and stress. When you switch to Cin7, you’ll be able to:

  • Access your data at any time and place.
  • Set it up quickly, easily, and to your liking.
  • Use ready-to-scan barcodes with your phone’s camera.
  • Customize and allow access to teams, vendors, and suppliers.
  • Generate custom barcodes for unlabeled stock.
  • Create data-rich, shareable reports to help you understand inventory.
  • Get alerts when you’re running low on a product, if it’s expiring, or approaching warranty.
  • Create product histories to answer who, what, and when details.

Ready to see how our inventory software makes your year-end inventory count easier? Book your Demo now.

5 tasks your ecommerce business can outsource

Online entrepreneurs have a lot on their plates, including supply chain management, product sourcing, inventory, shipping, customer service, and marketing.

How can business owners do everything that has to be done? Outsourcing.

Outsourcing frees up time for business owners to do what needs to be done while saving costs associated with hiring full-time staff.

Let’s dive into outsourcing to see how it can benefit your business and what tasks can be easily outsourced.

 

What is ecommerce outsourcing?

Outsourcing is obtaining goods or services from a source outside of your business. In terms of service, outsourcing is hiring someone to complete tasks such as writing product descriptions, developing a website, handling support tickets, providing technical support, and marketing. Some companies outsource the entire ecommerce business to a third party.

Outsourcing is a vital component of an ecommerce business.

Ecommerce businesses outsource to cut costs or save resources. Most businesses outsource to improve workflows when they can’t afford or don’t want to hire employees. Outsourced laborers can be hired domestically or internationally.

 

Advantages of outsourcing ecommerce services

There are some distinctive advantages to outsourcing.

1. Gives you time to focus on your business

Many day-to-day operations can be incredibly time consuming for new and existing business owners. For owners with just a few people on their team, it can be a lot to manage. Outsourcing gives you time to focus on your business goals while the wheels of your business keep spinning.

2. Gives you freedom to innovate

Outsourcing gives you time and freedom to innovate. By outsourcing mundane tasks, you and your creative team can spend time developing your next great product or trying out different things in new business sectors.

3. Enhances productivity

To compete in the ecommerce market, you need people who know what they are doing and who do it well. Outsourcing allows you to draw on experts who specialize in particular services, enhancing productivity because you are hiring people with the right skills for the job.

4. Improves analysis and strategies

The savviest organizations employ the systems necessary to improve their business. Using innovative tools like predictive analytics helps your ecommerce business expand. Analyzing past and current performance metrics can improve customer retention. Outsourcing analytics saves time and ensures reliable data are collected to make strategic decisions.

5. Increases cost efficiency

Outsourcing improves cost efficiency. By outsourcing, you can save the costs that you would have spent on managing customer support, inventory management, fulfillment, handling returns, and setting up the business infrastructure.

 

5 tasks that your ecommerce business can outsource

Here’s what your ecommerce business can outsource:

1. Content creation

With an online business, you need great content that promotes your business. It’s important to have a quality website or blog that puts a positive spin on what your business can deliver. That’s why hiring an outside content marketer is so important. A content writer has specialized skills to develop engaging content for your ecommerce business.

2. Website design

If your website takes too much time to load or its navigation is complex, visitors will leave immediately. Hiring a professional designer can help you better engage visitors by developing a user-friendly site. Ecommerce sites that are fast, visually appealing, responsive and trustworthy will more easily convert potential customers into loyal ones. Fortunately, you can find great website developers on platforms such as Freelancer and Upwork.

3. Customer service

Stellar customer service begins with product inquiries and carries through the entire transaction, including ordering, delivering, and returns or exchanges. You will need to develop customer service skills within your team, but during the learning curve and while scaling your business, outsourcing can help you keep up with business demands. Outsourcing this aspect of the business ensures that you have the resources and service expertise to expand and support scalable growth cost-effectively.

4. Social media marketing

Social media can transform your business – if it’s done correctly. A poor online presence costs you money. A professional social media marketer can help determine which platforms you should be on (e.g., Instagram, Twitter, LinkedIn) and how to design a social media strategy that makes sense for your business and budget.

5. Bookkeeping

Bookkeeping is one aspect of running a company that you may already outsource. Monitoring company finances is challenging and often requires someone who is highly trained in the intricacies of accounting. Even when your company uses accounting software for day-to-day management, you may still want to outsource to a professional for items such as annual taxes.

 

Cin7 can help

While outsourcing can help your ecommerce business grow, there are still many tasks you will need to do yourself. Cin7 can help.

Cin7 offers the latest solutions for ecommerce businesses with our cloud-based hosting, store management, warehouse management, cart management and development, inventory management, security, and payment gateways.

If you’re ready to reach the maximum potential for your online business, contact us to schedule a demo.

4 Inventory accounting methods for inventory valuation

What do manufacturers, distributors, wholesalers, and retailers have in common? They all deal with inventory. Whether you’re a manufacturer or a reseller, you need to account for your inventory accurately. With proper inventory accounting, you can better understand your expenses and identify ways to cut costs and maximize your profits.

 

What is inventory accounting?

Inventory accounting determines how an organization shows inventory in its balance sheet and profit and loss statements. Your inventory is treated as an asset because it can be used to generate revenue. The valuation of your inventory assets depends on how you assign costs to your inventory. It’s extremely important to correctly value your inventory because its value affects your business’s overall profitability.

 

Understanding cost of goods sold (COGS)

The cost of goods sold is the cost that a business incurs to make or acquire the products that it sells. COGS includes everything from materials used to labor cost. However, it only includes costs that are directly related to the production process. Thus, shipping and marketing costs aren’t included in COGS. Knowing your COGS helps you understand how much you are spending to produce your product, and it directly impacts your profitability.

The formula you use for COGS depends on whether you are a manufacturer or reseller. For a reseller, the formula is

Beginning inventory + Purchases – Ending Inventory = Cost of Goods Sold

For example, at the beginning of the financial year, your inventory is valued at $4,000. Throughout the year, you purchase inventory valued at $3,500, and at the end of the year, your inventory value is $2000.

The cost of goods sold is $4,000 + $3,500 – $2,000 = $5,500.

COGS can be calculated weekly, monthly, quarterly, or annually. The value of COGS is partially determined by how you determine your ending inventory.

 

Understanding ending inventory valuation

It’s unlikely that you’ll be able to sell all your inventory by the end of the accounting period. However, unsold inventory isn’t a liability because it can be sold next year. Therefore, remaining inventory, or “ending inventory” is treated as an asset in your financial statements. In fact, ending inventory becomes “beginning inventory” for the next accounting period.

There are four commonly used inventory valuation methods:

  1. First in, first out (FIFO),
  2. Last in, first out (LIFO),
  3. Weighted average cost method, and
  4. Specific identification method.

Method #1: First in, first out (FIFO)

The premise of the FIFO method is you value your inventory as if the stock you acquired first were sold first. For example, imagine you purchase 100 bottles of product in January for $10 per bottle. Then in February, you purchase 200 bottles of product for $20 per bottle. You would have 300 bottles of product in your inventory, and the value would be $1,000 + $4,000 = $5,000.

Then imagine you sold 50 bottles of product in March. What would the value of your inventory be? Using FIFO, you would say that the 50 bottles you sold were part of the 100 bottles you purchased in January. Thus, you would value the inventory sold at $500, meaning the value of your ending inventory would be $4,500.

Method #2: Last in, first out (LIFO)

In contrast to the FIFO method, the LIFO method means you assume the most recently acquired products are sold first.

Using the same example of the bottles, let’s say that in March, you still sold 50 bottles. However, with LIFO, you assume that those 50 bottles were part of the 200 bottles you purchased in February for $20 each. Thus, the 50 bottles you sold would be valued at $1,000, and your ending inventory would be $4,000.

Method #3: Weighted average cost

The weighted average cost method is best to use when your product units are indistinguishable from each other or challenging to track individually – for example, gasoline. Using the weighted average cost method, businesses assign a value to inventory based on the average cost of production of the product.

Here’s the way to calculate it:

Weighted Average Cost = Total Cost of Inventory / Total Inventory Units.

For example, you purchase 10 bottles at $20 each, and an additional 10 bottles at $30 each.

  • Ten bottles at $20 each = $200.
  • Ten bottles at $30 each = $300.
  • Total bottle units = 20 bottles (10 + 10).
  • Total cost of bottles = $500 ($200 + $300).

The weighted average cost is $500 / 20 = $25. When you sell 10 bottles you will value the sale at $250 ($10 x $25). Your ending inventory of 10 bottles will also be valued  at $250 (10 bottles x $25).

Method #4: Specific identification

The specific identification method is primarily used for large items that can be easily identified because they are unique. In this method, each unit and its cost is tracked individually. Each item is assigned a specific identifier, such as can be done using radio frequency identification (RFID) tags. The advantage of this system is that you have a highly accurate accounting of your inventory. The disadvantage is that the method has limited uses because few businesses sell highly unique products that can be easily tracked.

Inventory accounting is crucial for businesses

Inventory accounting is vital for both manufacturers and retailers. Businesses should carefully consider their inventory valuation method and identify the best option up front, as it can be challenging to change in the future.

Inventory management software makes a huge difference and helps track and value your inventory. With real-time insights about inventory movement, orders received, and revenue generated, your business will be able to make smarter, more data-driven decisions. You’ll also be able to generate inventory performance reports and analyze your business in real time.

If you’re looking for software to track and manage your inventory, book a call with Cin7 today. We’ll assess your inventory needs and partner with you to find a perfect solution.

Heritage Building Centre

Heritage and SMB Consultants unlock incredible growth — thanks to Cin7

After a long trial with other, less able inventory management apps, Bill Rendell and Heritage Building found a happy home in Cin7

Heritage Building has a long, storied history. When former accountant Bill Rendell first bought the business, it was simply a supplier of recycled timber, and it was doing pretty well on that basis. 

But Bill had the foresight to start selling other building materials, like doors, windows, light fittings, bathroomware — “You name it,” says Bill. “We set ourselves up to be the one-stop-shop for the heritage building industry, and started selling equivalent-new reproductions as well.”

This transformation happened fairly early in the business’s story, and at first Bill used MYOB and spreadsheets to manage the complex inventory requirements of a second-hand goods business, where nearly every item sold was in some way unique. Unfortunately, it didn’t work very well. “With MYOB, there was no accountability for stock. It was just like a big box that you chucked all the information in — but I didn’t think there was anything better around at the time.” 

After struggling with MYOB for almost nine years, Bill turned to what was then a new business in the very new industry of cloud software implementation and coaching — SMB Consultants. 

SMB founder Jeff Atizado and his team helped set Heritage Building up with his first inventory management solution: Lightspeed. At the time, it was best-of-breed software, and the new fully-digital way of operating was revelatory for Bill’s business. But times change. The second-hand market was becoming less and less viable, and growth was stymied by the need to keep on top of manual tasks and fixing errors. “We were doing nothing but fixing stuff-ups,” Bill says. 

The problem, Bill says, was that Lightspeed hadn’t moved fast enough to keep up with the rest of the rapidly-changing world of online business. 

“It’s very difficult to get Lightspeed to work with Shopify,” says Bill. “We couldn’t get the shipping set up the way we wanted it. It just wasn’t possible with that program.

He turned to his trusted advisors to help turn things around.  “I started speaking with Jeff about using Cin7. The more I heard about it, the more I was impressed with what it could do.” 

SMB lends a hand for the second time

“It was interesting for us, because even though Bill had been a customer for eight years, the second time around is an excellent opportunity to re-evaluate their requirements and build a solution that incorporates what is important to them today. It simply isn’t just a process of replacing old with new. Businesses grow and change and you need to take the time to understand what are the new objectives,” says Jeff Atizado. 

Since their first engagement with Heritage Buildings, SMB Consultants have developed a process to deeply understand the business they’re working with. How is the business changing? How has it evolved? And where does it want to go? 

Together, Bill and the SMB team found that a new software solution could help him exit the secondhand goods market altogether, while growing his business in entirely new directions. 

“That process at the beginning of the project, to understand how we were working, was critical,” Bill says. “Back when we first started with SMB and Lightspeed, that process didn’t exist! Doing the scoping showed me an entirely different SMB, and following the process all the way through to implement Cin7 has proved it out. They understood what we needed, and made sure it happened.” 

After the initial consultation, SMB Consultants used Cin7 to create a working proof-of-concept, to introduce Heritage Buildings to new workflows and opportunities offered by the software. Once the proof-of-concept was finalized, SMB worked with Bill and his team to implement the full project. 

Building back better on a strong foundation

Today, Bill has transformed his business from one that physically stored and moved a lot of second-hand goods to a modern, just-in-time purchasing model that doesn’t require carrying a lot of stock. This shift, SMB says, simply wouldn’t have been possible without Cin7. 

“Some big wins from Cin7 have been being able to give Bill a tool that allows him to track which items need to be ordered, and that allows him to keep track of online sales, to order quickly, and get them shipped in time,” Jeff says. “One one side, the purchasing, on the other, fulfillment.” 

Under the old system, it took up to two or three weeks for Heritage Building to get goods to their customers. But now they can get goods into customer hands in less than a week. Cin7’s ability to support a dropshipping model has enabled Heritage Building to reduce its total stock holding by a factor of more than four, with a huge accompanying reduction in administration requirements while improving shipping times.  

“Our stock holding at present is about 200,000. Our stock holding was 1.5 million with half the turnover we’re doing now , and we’re doing it better. We’ve basically reinvented ourselves from the ground up, and we’re now a very viable online shop as well,” Bill says. 

“With shipping, what we’ve achieved now was beyond anything we could conceive. We’ve reduced our turnaround time for orders from about two weeks per item, down to three to five days.”

Soon, with new shipping workflows they’re looking to create with SMB in Cin7, he reckons they’ll be able to use Cin7 to make shipping even faster. 

“One of the things we’re doing now is looking to integrate with his dropship fulfillment provider, so we can streamline how quickly we can get orders from them, which will again cut down the amount of time it takes to get the product into a customer’s hands,”  Jeff says. 

As well as pivoting from second-hand goods to a thriving multichannel business selling new materials, Cin7 has allowed Bill to branch out with a hot new sideline — selling fireplaces. 

“It’s going gangbusters,” Bill says. “Again, that’s because of the website, and the website is because of Cin7.” Having a modern inventory app like Cin7 as their foundation means that it’s easy to sync with best-of-breed ecommerce apps like Shopify. 

“We’ve basically got a direct connection between Cin7 and Shopify,” Bill says. “We can move the products back and forwards, we can adjust counts. No drama. No chance of an error. That’s brilliant.” 

“We can plug a lot of apps into Cin7. Lightspeed couldn’t do that.” 

“A winning combination” 

Heritage Building, SMB Consultants, and Cin7 have been a winning combination. Anytime he’s needed help, SMB has been there for support. Bill has his own specialist implementation partner at SMB, Jess, who’s helped all through the scoping and setup, and can now lend a hand whenever Bill needs it. “I’ve still got Jessica there, when I need her, whether it’s a big or a little thing. You can’t hire for that — well, I don’t think you can,” Bill says. 

Likewise, Jeff says that their work with Heritage Buildings is a great showcase of how beneficial it can be for businesses to have a long-time software and coaching partner – for both parties. 

“It’s been a pleasure working with Bill,” Jeff says. “It’s great being able to look back and see the changes that we’ve made. I think Bill is being a bit humble, knowing how much change he’s actually made, but when you look at how much inventory and overhead he’s reduced, while increasing sales — that’s a winning recipe. It’s been great to be able to grow together.” 

Heritage Buildings had great results the first time they worked with SMB, but the second time around, with the transformation powered by Cin7, things are better by an order of magnitude. 

“The difference between two years ago and now — it’s almost unrecognizable,” Bill says. “I can work anywhere I need to be. For me, that’s a lot of help.” 

The new efficiencies offered by an inventory solution that connects seamlessly with other business-critical apps have paid enormous dividends for the business. After 17 years in business, growth has been unlocked. 

“In the past two years, we’ve doubled our business,” Bill says. “We’ve gone from an average of about 250,000 per month to about half a million per month. And about half of that growth is our online shop. We’ve been increasing turnover every month for the last two years, and we’re now the number three distributor in our category in Australia.” 

None of it would have been possible without Cin7 — and the help they’ve received from SMB Consultants. 

“Without Cin7, it would have been impossible to do what we’ve achieved,” Bill says. “It’s that simple. We are who we are today because of Cin7 and SMB Consultants. Our website is going exceptionally well, and I don’t think it would have been possible before Cin7. It’s worked very well for us.”