Stores and other inventory holding companies often use helpful tools to gain visibility into their inventory. They know how many items are still in stock and how many they may need to reorder, but they don’t know the exact value of that stock. And let that be just the thing to know. Why? In this blog, we explain that using our self-developed stock audit and monitoring service Smart Stock. We talk about the benefits of having insight into the value of your stock and why Smart Stock helps with that.
More control over your inventory data
Smart Stock is an inventory audit and monitoring service that allows you to get up-to-date insights into large inventories. Internally, our auditors use this daily to get a quick grip on a stock.
The system developed is a unique valuation software that brings in data. This data is then converted into inventory information, translating analysis and valuations into clear reports and dynamic dashboards. These dashboards show not only current inventory but also information on purchasing and sales, margins, shelf life, seasonality, third-party rights and how the market is moving.
One of Smart Stock’s useful features is its responsiveness to current market situations. For example, by comparing the current purchase price versus the historical cost price for the past 12 months. In addition, Smart stock can set up the entire implementation without the enterprise intervening. Data is automatically exported from the ERP system through software, with the company maintaining control over what is exported.
If you want to get financing as a store or business owner, your books need to be in order. After all, the bank wants to know exactly what you are doing. The value of your stock is important to ultimately achieve financing. And Smart Stock helps with that.
Benefits of NTAB Smart Stock
NTAB Smart Stock offers many benefits, for Private Equity, lenders and asset based lenders as well as borrowers. This gives you up-to-date insight into your inventory and figures, all inventory data is structured and presented – which helps the conversation between lender and company – and you can easily manage inventory. At a detailed level, current inventory status, the purchasing and sales process and valuation of inventory are mapped. Furthermore, the digital audit process eliminates manual operations. This saves time.
The major advantage of this system is that both asset-based lenders and financiers (as well as the companies themselves) can optimize their risk management by having a digital view of current inventory data, working capital development and a company’s risk profile at any time. Related data such as sales and profit margin are also visible.
From a financing perspective, Smart Stock offers the opportunity to give both lender and company insight into the borrowing base. Also, the software can help companies in a request for proposal (RFP) phase give the funder insight into the inventory to be financed.
Interested? With NTAB Smart Stock, we want to steer companies toward healthier inventory and better margins and give our clients up-to-date inventory insight. Want to know more about this or our services? If so, please feel free to contact us.
