When it comes to managing your business’ inventory, you’ll find there are hundreds of different inventory management tools to choose from on the market. Picking a solution that is most suitable for your company can be difficult, which is why it’s important to have a clear understanding of the goals and objectives you hope to achieve before reaching for your wallet. Small businesses looking for a solution that ties into their QuickBooks functionality have only a handful of inventory management tools to choose from. QuickBooks Advanced Inventory and Rapid Inventory are two solutions with this capability. Recently, we”ve been getting a lot of questions about how the two compare to each other so we’ve decided to break it down for you.

Cloud-Based
Unlike QuickBooks Advanced Inventory, Rapid Inventory is a cloud-based inventory software application meaning it is solely accessed via the web. Some advantages with having a cloud-based inventory management system include no messy software updates and the ability to have real-time access 24/7 from anywhere in the world with internet connectivity. Rapid Inventory is also compatible with any Android or Apple device, enabling warehouse managers and employees the ability to access Rapid Inventory remotely. Click here to learn more about the advantages from using a cloud-based inventory management system.

Advanced Reporting
Both QuickBooks Advanced Inventory and Rapid Inventory have the ability to give accurate inventory reports, but Rapid Inventory takes it a step farther with the ability to produce advanced purchasing reports with forecasting capabilities. With Rapid Inventory’s advanced reporting functionality, users have the ability to make informed decisions based on past sales data and current indicators so that you never have to worry about over or under ordering again.

Pricing Model
Rapid Inventory is delivered on an ‘as-a-service’ basis meaning user’s pay for this solution on a month by month basis with no upfront capital expenditures. New customer’s are given a free 30-day trial period to test out the solution. After the free trial expires, users pay $60 per month going forward.

In order to use QuickBooks Advanced Inventory, you must have an active support plan. For most Enterprise customers, a support plan can run approximately $1,500 a year. Once you have an active support plan, you can use QuickBooks Advanced Inventory for $1,000 a year. So when all is said and done, you’re looking at spending close to $2,500 annually.

Workflow Design
Rapid Inventory was specifically designed for a warehouse employee who’s looking to manage their inventory while using either QuickBooks Pro, Premier, or Enterprise. By integrating seamlessly with QuickBooks, Rapid Inventory has the ability to provide additional fields to a screen that would benefit a warehouse inventory manager. For example, the expiration date field allows a warehouse employee to pick the inventory that is closest to expiring. QuickBooks Advanced Inventory workflow features are not optimized for the typical warehouse worker. The ability to scan an item onto an invoice like your are checking out at the grocery store does not match up with a worker walking around the warehouse with a mobile computer receiving real-time directions and verification that they are doing everything correctly.