Inventory Management Software System Singapore

INVENTORY MANAGEMENT SOFTWARE SYSTEM IN SINGAPORE

Providing a cutting-edge Inventory Management Software System to help streamline operations for Small and Medium Enterprises (SMEs), Ingenious is a trusted business solutions provider in Singapore. Our sophisticated software, with its robust capabilities, sets the standard for seamless inventory software solutions in Singapore.

Accounting, Inventory & Billing

The market-leading accounting and inventory management software in Singapore, Malaysia, Brunei, and other ASEAN countries. Over 500,000 installations completed.

Inventory Management System for Your Business

An inventory management system is a real-time technological solution to monitor stock levels, sales, deliveries, and orders. For Singaporean SMEs dealing with many products, this system becomes an essential part of the business machinery.

Ingenious’ inventory management software is designed to revolutionise how you can track, manage, and optimise stock levels across the entire supply chain. From procurement to manufacturing, services, sales, and inventory control, our tool seamlessly integrates every facet of your operations, ensuring a harmonious drive towards enhanced profitability and business growth.

Experience deeper insights and greater control over each inventory cycle, empowering you to make strategic decisions that propel your business forward. Eliminate guesswork, reduce waste, and elevate customer satisfaction as you scale new heights in efficiency, profitability, and market reach.

In a highly competitive business environment like Singapore, Ingenious’ inventory management software is a crucial differentiator, empowering businesses to optimise their operations, make better decisions, and thrive. Check us out for other solutions like our cloud accounting software and e-invoicing in Singapore that will propel your business to greater heights.

Where is the Future of Your Business?

At Access UBS, we’re dedicated to simplifying your business operations. Our suite of solutions, including Accounting, Inventory, and Billing Modules, is designed to streamline processes, cut operational costs, and mitigate risks, paving the way for a more profitable and sustainable future.

Trusted by small- and medium-sized enterprises, Access UBS stands out for its effectiveness in managing finances with precision and professionalism. We achieve our mission through the delivery of bespoke products and services, utilising the latest technology and backed by the expertise of local professionals.

Why Access UBS?

First-choice accounting software for SMEs in Malaysia
Always compliant with local tax rules and regulations
Easy to set and simple to use
Mobile licence that allows you to `take’ your licence with you and work remotely on any other workstation (desktop/laptop) outside the office
Ability to integrate with our Point of Sales (POS) system and Building Service Maintenance (BSM) system to give you the end-to-end full financial functions in different industries

Reasons Why You Need an Inventory Management System in Singapore

In an increasingly competitive global marketplace, an efficient inventory management system is crucial for managing complexities in your supply chain. Here’s why Singapore businesses need one:

1. Increased Efficiency and Productivity

An effective inventory system automates various manual processes, enabling businesses to achieve higher operational efficiency. It eliminates the risk of human errors in stock counting, order processing, and data entry. By automating these repetitive tasks, your employees can focus on tasks that directly contribute to your profitability, such as strategic planning, customer engagement, and business development. This, in turn, enhances productivity, boosts operational efficiency, and establishes a culture of continuous improvement within your organisation.

2. Accurate Inventory Tracking

Ingenious’ inventory management software provides real-time inventory updates, a critical feature in today’s dynamic business environment. This feature ensures your inventory levels are accurate, thus preventing product overstock and outages. Accurate tracking reduces costs associated with excess inventory and optimises storage space. It also facilitates efficient order fulfilment, crucial to maintaining a positive business reputation, especially in an era of instant customer feedback and high consumer expectations.

3. Improved Customer Service

An effective inventory management system directly correlates with improved customer service. With real-time tracking, businesses can accurately forecast delivery deadlines and manage customer expectations more effectively. This enhances customer satisfaction as timely deliveries and accurate order fulfilment are vital to the customer experience. Happy and satisfied customers are more likely to become repeat customers, give positive reviews, and become brand ambassadors, all of which contribute to the long-term success of your business.

4. Enhanced Transparency

A sophisticated inventory management system like Ingenious’ offers complete visibility into your inventory and supply chain operations. This transparency improves decision-making by providing valuable insights into inventory trends, sales patterns, and supplier performance and enhances forecasting abilities. Better forecasting leads to more efficient purchasing, reducing the risk of stockouts and overstocking. Furthermore, it also increases trust among stakeholders, including investors, customers, and suppliers, as it demonstrates that your business is under control and managed effectively.

ACCOUNTING & BILLING

Get paid faster and stay on top of your cash flow. It is essential to get your financials right. Access UBS Accounting and Billing helps you process customer and supplier payments faster and manage your sales orders, purchase orders, goods received notes, and delivery notes seamlessly within the software. With more than 500,000 installations in Malaysia alone, Access UBS is now a household brand among Small and Medium-sized Businesses (SMBs). Many institutions of higher learning even offer courses on Access UBS Accounting & Billing as part of their curriculum, as the software has been recognised to provide comprehensive reports while being easy to use. This entails a continuous availability of fresh and quality accountants trained in Access UBS for SMEs to expand their businesses further.

The modules available in Access UBS Accounting & Billing include:

General Ledger
Debtors
Creditors
Fixed Assets

Access UBS Accounting & Billing is suitable for most companies and businesses. Some examples are:

Accounting Firms
Cooperative Societies
Construction Companies
Small Scale Manufacturing
Retail
Restaurants
Trading Companies
Training Institutions
Wholesaler

The inventory software Singapore enables companies to work easier and more efficiently with the following features:

Wizard Setup will enable users to get a quick start on the setup processes.
Task flow is displayed for easy reference and direct access to the required screen.
Transaction Wizards, which provides a step-by-step guide to enter transactions.
Debtor Receipt & Creditor Payment screens give users an overview of all bank balances for better cash management and the flexibility to perform offset processes simultaneously.
Additional Dashboard Reports to provide easy access to critical information for better collection, fund management, and business decision-making.
Payment Services, which serves to improve the efficiency and security of your transactions.
SMS provides flexibility in retrieving information directly from the system and sending it to customers or suppliers with a personal message.

Inventory & Billing

Stay on top of your stock levels — our inventory management system provides all the information you need to make smarter business decisions fast. The Access UBS Inventory & Billing system makes stock control easier by putting the control back into your hands. It allows you to manage all types of inventory transactions and have instant updates and inventory status at your fingertips. Access UBS Inventory & Billing is an invoicing system where you can print invoices and delivery orders, enhancing overall transaction management.

Four types of stock valuation methods are included:

Fixed Cost
Monthly Average
First in; First out (FIFO)
Moving Average

Use our detailed inventory management functions and features to hold need-to-know information about your items and stock:

Wizard Setup will enable users to get a quick start on the setup processes.
Task flows are displayed for easy reference and direct access to the required screen.
SMS provides flexibility in retrieving information directly from the system and sending it to customers or suppliers with personalised messages.
Option to alert customers immediately when Delivery Order and Sales Invoice are generated.
Bill of Material (BOM) template to build a list of the raw materials, sub-assemblies, intermediate assemblies, sub-components, components, parts, and the quantities needed to manufacture an end item (final product).
Bar Code consists of a group of printed and variously patterned bars, spaces, and sometimes numerals that are designed to be scanned and read into computer memory to provide price and register inventory information.

General Features

	Access UBS One	Access UBS Nine
System Management
Number of Companies	Limit to 2	Unlimited
Auto Numbering	✓	✓
18 Months Accounting Periods	✓	✓
Open / Close period(s)	✓	✓
Close Month End	✓	✓
User Management
Number of Concurrent Users	1	Up to 10
Security Rights by User and User Groups		✓
Data Management
Manual Backup & Restore	✓	✓
Scheduled Backup		✓
Recoding Facility	✓	✓
Transaction Management
Year End Processing	✓	✓
Audit Trial	✓	✓
Information Management
Accounting Dashboard	✓	✓
Sales / Purchase Dashboard	✓	✓
Inventory Dashboard	✓	✓
Interactive Reporting (drill down)	✓	✓
RSS Feeds	✓	✓

Accounting Features

	Access UBS One	Access UBS Nine
Advanced Features
Tax	✓	✓
Project		✓
Multi Currency		✓
Entry Method
Quick Entry	✓	✓
Wizards	✓	✓
Task Row	✓	✓
Journal Entry	✓	✓
Recurring Entry		✓
Cash Flow Management
Receipt / Payment	✓	✓
Electronic Credit Card Terminal	✓	✓
Offset/Reverse Matched (Knocked-off) Documents	✓	✓
Cheque Handling		✓
Bank Reconciliation		✓
Cash Flow Statement		✓
Information Management
Fixed Assets		✓
Accounts Consolidation		✓
Budget		✓

Inventory Features

	Access UBS One	Access UBS Nine
Inventory Valuation Methods
Fixed Costs Standard Costing	✓	✓
First-in, First-out Costing	✓	✓
Average Price Costing		✓
Inventory Management Feature	✓	✓
Inventory Transfer		✓
Inventory Issue		✓
Item Assembly		✓
Inventory Count		✓
Inventory Attributes
Stock item	✓	✓
Non-stock item	✓	✓
Assembly Item		✓
Serialized Item		✓
Matrix Item / Batch Item / Graded Item		✓
Bar Code		✓
Bill Of Materials (BOM)		✓
Item Location	Single	Single
User-Defined Fields		✓

Billing Features

	Access UBS One	Access UBS Nine
Purchase Processes
Purchase Order	✓	✓
Goods Received Notes (via Receive)		✓
Supplier Invoice (via Receive)		✓
Purchase Return		✓
Purchase Debit Note / Credit Note (via Purchase Journal)		✓
Sales Processes
Quotation		✓
Sales Order	✓	✓
Delivery Order	✓	✓
Sales Invoice	✓	✓
Sales Return (via Credit Note)	✓	✓
Sales Debit Note/ Credit Note	✓	✓
Cash Sales	✓	✓
Consignment Order		✓
Price Management
Customer Pricing		✓
Supplier Pricing		✓
Toolkits (Add-on Modules)		✓
Access Connect ID	✓	✓
Access Connect PAY	✓
SMS	✓	✓

Get Access UBS protected with Access Cover!

We know how much you depend on your Access Solution, so we have made it easy for you to keep your inventory management system in top form with our software assurance plan: Access Cover. The Access Cover plan provides software updates, upgrades, and information, providing total investment protection in the long run. With Access Cover, you do not need to worry about keeping up to date with the latest version because it will automatically be made available to you. Each new version includes features that help your team maximise productivity and performance. And best of all, it costs significantly less annually than sporadically purchasing new software licences.

Stay compliant and improve productivity by keeping your product capabilities current

Access Cover ensures you receive the latest major software releases, security patches, and bug fixes. The products are continually added and enhanced with new features and functionalities to meet new challenges in your business.

Protect your software with the latest security upgrades and performance improvements

With Access Cover, you are entitled to a full year of free upgrades where the upgrades are designed to address and fix issues encountered by users. These upgrades improve the overall performance and functionality of the software. Moreover, they enable the software to last longer by increasing its life cycle.

Streamline your licence management

Licence keys are like passwords. You might have several of them, and when you need to find one, it may not be obvious where to look. Access Cover provides you with licensing assistance in case you need to request a new licence key or transfer your licence to a new machine. It’s your one-stop shop for all things licensing.

Manage your investment effortlessly and cost-effectively

Time is your most valuable asset, and how you leverage it can be critical to the success of your organisation. That’s why you wisely invested in our software, which delivers enormous time savings in business operations. With Access Cover, you can continue to make the best use of your time while taking full advantage of product capabilities and the continual improvements we make. And guess what? Access Cover also secures you from future price increases.

Dedicated friendly support team with experts for fast answers on your product issues

You can’t afford to be without expert technical assistance; our highly experienced professionals are committed to your satisfaction. Our partner network and/or support services ensure quick resolution to your product issues. Our support team operates from 9am to 6pm on weekdays.

YOUR TRUSTED INVENTORY MANAGEMENT SOFTWARE VENDOR

Ingenious has etched its name as a trusted autocount accounting software provider in Singapore’s business software solutions landscape. Rooted in our dedication to delivering innovative and tailored software solutions, we specialise in catering to your business’ specific needs.

Here’s why partnering with Ingenious elevates your business operations:

Comprehensive Suite of Services: We offer an extensive range of products beyond inventory management, including solutions for procurement, sales, manufacturing, and services. Our integrated system provides a holistic approach to supply chain management, fostering smooth operations and efficient resource allocation.

Customisable Software: Our inventory management software solutions are designed to adapt to the uniqueness of each business in Singapore. Recognising that each business has distinct challenges and growth objectives, we tailor our software to meet your needs, seamlessly integrating with your existing systems and processes.

Scalability: Our inventory management system grows with your business. Ingenious software is designed to handle your current needs and flexes to adapt to your future growth and changing market dynamics.

Exceptional Customer Service: We offer continuous support and regular software updates, ensuring your systems remain current and effective. Our team of experts are on hand to address your queries, troubleshoot issues, and provide valuable guidance to help you maximise the benefits of our inventory management software.

By choosing Ingenious, you’re partnering with a vendor who is deeply invested in your success. Our cutting-edge technology, personalised solutions, and steadfast support ensure your inventory management system accelerates your business growth. Experience the Ingenious difference today and steer your business to new heights.

How to improve inventory management

Here’s a quick guide to inventory management best practices:

Evaluate Your Current Practices

Start with a thorough assessment of your existing inventory management processes. Understanding the purpose behind each practice allows you to identify areas for improvement. Engage team members across different departments to gather insights on challenges and inefficiencies. This collaborative approach can reveal hidden problems and foster solutions that are practical and widely supported within the organisation.

Perform Routine Stock Reviews

Regularly checking your physical inventory against your records is crucial for maintaining accuracy. Discrepancies can arise due to loss, theft, or damage, which might not be immediately apparent. By scheduling routine stock reviews, you can ensure your inventory data reflects the actual stock levels, allowing for more precise planning and decision-making.

Systematise Stock Replenishment

Implementing a systematic approach to restocking ensures that you never run critically low on any item. This strategy is particularly important during peak demand periods. Establish minimum stock levels for each product and initiate reorder processes automatically when inventory falls below these thresholds. This method prevents stockouts, maintains operational continuity, and enhances customer satisfaction by ensuring popular items are always available.

Learn Customer Behaviour

Understanding your customers’ purchasing patterns can significantly improve inventory management. Monitor restocking frequencies and look for trends or seasonal variations in demand. This insight allows you to anticipate changes in customer behaviour, enabling you to adjust inventory levels proactively and maintain an optimal balance between supply and demand.

Leverage Technology

Investing in advanced inventory management software can transform your operations. Look for solutions that offer real-time tracking, automated restocking, and detailed analytics — such as that from Ingenious. These technologies provide a comprehensive view of your inventory, streamline processes, and offer actionable insights to optimise inventory levels. Select a system that integrates seamlessly with your other business systems for a unified operational approach.

Train Your Team

Ensure your team is well-trained in your inventory management system and understands the principles behind effective inventory management. Regular training sessions can help staff stay updated on best practices and system updates, enhancing their ability to manage inventory effectively.

Continuous Improvement

Adopt a mindset of continuous improvement. Regularly review your inventory management practices and seek feedback from your team. Stay informed about new technologies and methodologies that could further enhance your inventory management.

By focusing on these areas, businesses can create a more efficient, responsive, and customer-focused inventory management system that supports growth and profitability.

FREQUENTLY ASKED QUESTIONS ABOUT INVENTORY MANAGEMENT SYSTEMS IN SINGAPORE

What is the purpose of stock or inventory management software?

Stock or inventory management software aims to automate inventory tracking and optimise business operations by monitoring stock levels, orders, sales, and deliveries in real time. It improves efficiency, accuracy, and transparency, enabling better decision-making, preventing overstocking or stockouts, reducing costs, and enhancing customer satisfaction.

How does an inventory management system help reduce inventory costs for businesses in Singapore?

An inventory management system helps reduce inventory costs in Singapore by enabling real-time tracking of stock levels, thus preventing overstocking and understocking. It optimises storage space and reduces holding costs. Accurate forecasting and data-driven purchasing decisions avoid wastage and unnecessary expenditure, leading to cost-efficient and streamlined business operations.

What is the difference between using inventory management systems and doing things the manual way?

An inventory management software automates tracking stock levels, sales, orders, and deliveries, offering real-time updates and accuracy, which is not achievable in manual inventory management. While the manual method is prone to human error, inefficiency, and lack of scalability, an automated system enhances operational efficiency and accuracy while providing valuable insights for decision-making.

What types of businesses can benefit from having inventory management systems?

Inventory management systems can benefit many businesses in Singapore, including retail, wholesale, manufacturing, logistics, e-commerce, and hospitality companies. Any business that handles goods or materials — from procurement and storage to sales and deliveries — can significantly improve its operational efficiency and profitability through effective inventory management software.

What to consider when choosing inventory software?

When selecting inventory management software, consider the following key aspects:

Features and Functionality: Ensure it includes essential capabilities such as real-time tracking, automated restocking, and detailed analytics.
Integration: Must integrate seamlessly with other business systems like accounting, e-commerce, and CRM.
User Interface: Should be intuitive and easy to navigate to reduce training time and minimise errors.
Scalability: Capable of accommodating business growth and increasing inventory needs.
Cost: Consider all costs, including setup fees, subscriptions, and potential updates and support charges.
Support and Training: Vendors should offer robust support and comprehensive training options.
Security: Must have strong security features to protect your data.
Reviews and Recommendations: Look for user reviews and seek recommendations to gauge software reliability and performance.

What is the process flow in Warehouse Management System?

A typical Warehouse Management System (WMS) process flow includes:

Receiving: Goods for quantity, type, and condition are recorded upon arrival.
Inspection and Sorting: Items are inspected for damages and sorted based on storage requirements.
Put-Away: Goods are stored in optimal locations based on size, weight, and access frequency.
Picking: System generates optimised picking lists to facilitate efficient retrieval of items.
Packing: Orders are verified for accuracy and packed for shipment.
Shipping: WMS updates inventory levels and assists in tracking outbound goods.
Returns Processing: Manages the receipt and processing of returned items, including inspection and restocking.