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How to Save Money with Multichannel Inventory Management Software?

Thomas Marks

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There is probably no business in the entire world which does not face hardships while trying to manage their inventory. Inventory, in simple words, is the list of things under a business which the business has to take care of. These include sales, warehouses, orders, shipping, and more. With each and everything going digital in today’s times, most of the businesses have already set up their e-commerce store.

Businesses are looking to make the best profits out of their physical as well as online retail stores but one thing that is troubling each and every retail business is the ability to manage their inventory and more importantly from a single place. This is what gave birth to the multichannel inventory management software that is designed specifically to manage the inventory from a single place and that too with complete ease.

management software

This is must-shop software for every business as not only it helps to manage the inventory well but also help in meeting important deadlines, unexpected orders and save money eventually! How does it help in saving money? Relax, as we brief you about the same!

Top 5 Ways Multichannel Inventory Management Software Helps Save Money:

 

  • It Reduces Manpower Cost

Managing a lot of inventory is not easy at all and one requires a lot of manpower for the same. You need manpower to manage your warehouses, sales, physical as well as online retail stores, and more. If you buy this software, it will do most of this work from a single place for which you need to hire only a single employee. This way you will save a lot on your manpower, eventually leading to company’s profit and saving!

  • It Reduces Phone Bill

When you have to manage a lot of things, the only way you can do this is through a phone. You have to constantly call people located at different areas to stay updated and keep a track of the supplies. For example, customer orders in bulk, you will have to call at your warehouse for the products available, track down the supplies, and then coordinate with the sales, and so on. When you have everything clickable, you need not to call anybody and simply generate an invoice by looking at the inventory details.

  • It Avoids Spoilage

Most of the retail businesses have no idea about their products getting bad or getting expired. This is mostly due to a lack of communication on the daily basis between the key people involved in the different areas of the business. When you have each and every product in your software with its full details, you can sale it way before the deadline with an attractive offer or use it at any other area of the business.

  • It Reduces Storage Cost

Storing products in the warehouse depends on the number of average sales you are having every day or every year. This data is hard to maintain physically and when making a decision out of it, it can be the most challenging task.

With multichannel inventory management software, you can easily know how many products you actually need and the required storage space for it. This will help you save on your storage space, eventually saving the storage expense.

  • It Helps Increase Sales

When you will manage your inventory so well with multichannel software, you will automatically come to know what prompts customers to buy the products from you, from where you are getting the maximum orders and what you should do to let the magic continue.

Also, it will help you in adopting new and effective marketing techniques that will be designed specifically for your target audience. All this will help you in increasing sales and when you increase the sales, you increase the profits and the savings eventually!

Another major way to save money on your inventory is to properly assess and select your solution. One way to do this is through a software selection and comparison website, such as TEC. Choosing business software is no easy feat, so getting expert advice may ensure that you stay within budget, and implement the software that your business will truly benefit from. 

Thomas Marks, as the owner of the retail store, has the great passion for writing and sharing his knowledge regarding inventory management. He has been doing inventory control for his business using multichannel software and it really helped him to boost savings.

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License Key Management Software – A Guide

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What is Software License Management?

So you’re probably wondering, “What is software license management?”

Software License Management involves the process of reducing, controlling, and documenting your total IT costs. License key management software helps control your IT costs, giving your team the organization needed to run effectively.

Types of Software Licenses

Here are the most common software licenses that are available:

  • General Public License: Covers software that comes at no charge and can be copied, modified, and used for free.
  • Database: While usually aligned to a device, database licensing demands special consideration due to the complex licensing complex and high cost that change by the vendor and might include the number of cores or servers, running against the installed databases. With databases, you have to get the correct license before using it for research or other projects.
  • Per Network: Cover all machines placed on one specific network.
  • Per-user: Restricted to one user that can use it on multiple devices (laptop or desktop) and requires the user to log in to verify their identity.
  • Per device or CPU: only required for one machine whether its a data center or user device.
  • Per Subscription: Managed via subscription by a device or user. They usually have an electric date.

Benefits of Good License Key Management Software

One key advantage is that your company will have all of its software licenses under control. On average, the average cost for unused software is about $259 per software. This sucks up your IT budget and wastes your precious resources. By monitoring and tracking your purchases, you are ensuring that every license accounted for is operating correctly.

The biggest benefit is that it’s a critical part in ensuring your software licenses are compliant with the EULA (End User License Agreement). If one device is using unlicensed software, you could face legal repercussions or some hefty fines.

Risks of Bad Software License Management

The Business Software Alliance is a company whose mission is to enforce compliance between businesses and advocate legal software. To fulfill this goal, the BSA uses court-ordered audits on organizations to ensure they are compliant. It does matter if they’re a small mom and pop shop to large government organization – the BSA will run an audit to ensure you’re operating legitimately.

When purchasing software, it’s important to remember that you down own the software. You have the right to use it under the EULA’s terms. If the BSA or any other auditor finds out that you’re not following the terms of the agreement, you’re exposing yourself to thousands or millions of dollars in legal penalties. The average fine for noncompliant licenses is $100,000 per license.

It’s recommended that you have regular internal audits to cover your bases before the BSA comes in. By managing the software licenses and uses, you’re eliminating the risk of unexpected penalties, negative audit results, and other signs of damage.

Conclusion

License key management software is necessary for startups and growing businesses. By getting a better grasp over your network’s license compliance, you have to ability to protect your company from unwanted lawsuits and fees. So get the right tool so you can upgrade your company’s overall license security.

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Network Olympus and Your Organization: A Quick Guide

Steven Sanders

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Long gone are the days of direct monitoring to employees. While this system works, it’s better to have software that helps you monitor your corporate network. With Network Olympus, it gives you the ability to monitor the uptime and performance of the network appliances and computers.

We understand that performance is a key part of maintaining a long-term business. And with this system, you can get alerted if the performance indicators go below a certain level. Thus, using remote networks is a great way to ensure that your business is running properly while preventing insider threats from harming your organization.

Fortunately, we’ll show you why companies are looking at network-olympus.com. The benefits that the software gives you will help you stay ahead of your competitors.

Mobile Team Management

Being able to access your network remotely prevents the need to stay on site constantly. If you have to work from home or your local coffee shop, remote access does this for staff living in remote cities, offices, countries, or branches to assess the network’s performance – even if the software is installed on the headquarters.

This means that if your device doesn’t work in a remote expert, network specialists can help you fix the problem without too much viewing on your end. They can see the network maps and updated metric themselves.

Access Levels

Having access to a remote network give your team better-increased security. Some network administrators don’t like the concept of remote access is through using encrypted authentication and ensuring that the user logs in with the right method.

Another feature for security issue protection is by data encryption. By doing this, it allows you to customize the user access. Most of the Mount Olympus remote monitoring tools will give you access to the admin or user level to enable maps or dashboards. By managing this access to users, you’ll have complete control over your network and protect the connection.

Also, you should get a tool that will consistently update and create patches for any security holes that occur. While these security threats are common, good security tools help notify users once the patch is launched.  This allows you to take control of the advanced security measures fully.

Constant Access

When using network-olympus, users have more access because of their remote capabilities. As long as you’re on a network due to VPN connectivity and or a point-to-point, you’ll be able to manage and utilize connected devices on the network. Regardless of your location or where they’re located.

By having more remote capabilities for your IT team, you’ll have the flexibility to handle the tasks that the modern world demands. And you’ll have peace of mind because you can see your network from a glance, whether that comes from a city, country, or a world.

Concluding Thoughts

Overall, network-olympus.com is perfect if you’re trying to manage a team of 10-50 employees. By using their software you’ll experience increased productivity, remote network management, and better employee communication. Thus, we suggest you try out Network Olympus and see how it improves the functionality of your team.

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Network Olympus: Why Use It?

Steven Sanders

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IT Staff in Different Offices Can Monitor

If your IT team is spread out through multiple locations, who are responsible for helping monitor the network performance, the remote access enables for the staff in other cities, branches, countries, or offices to check the network performance – even if the software is installed on the headquarters.

This means that if the device is down at a remote location, a network expert can help you troubleshoot the issue without getting involved. And, he doesn’t have to ask you what you’re viewing on your end – he can see updated metrics and network maps himself.

Remain Mobile Without Neglect

Having the ability to access the network remotely means that your team doesn’t have to be on the site constantly. If you have to work from the local coffee shop or home, the remote access allows you to see the device status on your mobile device or laptop.

Mobile network monitoring helps users keep their network data, so they don’t have to risk outages due to lack of access.

Access Levels Are Managed For Better Security

Some network administrators might not like the idea of remote access due to the remote security threats lying behind it. One way to keep the network secure is through encrypted authentication and by making sure each user logs in with the same method.

Another form of protection against security issues is its ability to customize your user access. Most of Network Olympus remote monitoring tools will help you give access to the user or admin level to certain dashboards or maps. Managing the access to your users will help you keep the connection fully secure.

Also, get a tool that will consistently update and give patches to any security holes that surface. Although security threats are common, having good tools to notify your users once a patch has been released. This allows you to take advantage of improved security measures as much as possible.

With The Right Connectivity, You’ll Always Find Access

Network Olympus gives users more access due to its remote capabilities. As long as you’re on the network due to a point to point or VPN connectivity, you’ll be able to utilize and manage the connected devices within the network. Regardless of where they or you are located.

By giving more remote monitoring capabilities for you and your IT team, you’ll have enough flexibility to handle what the modern work world requires. And you can gain peace of mind that no matter where you’re at, you can see the network at a glance, whether it spans from a country, world, or city.

Conclusion

Basically, Network Olympus can be used to help you utilize your network. Not only does it have multiple features to help monitor your goods, but also helps keep your team on track. Thus, try to utilize it so you can keep your IT team running efficiently.

Need to learn more about Network Olympus?

Tell us in the comments below!

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