Kishor Senghani caught up with Unleashed to talk about inventory management, using timely data to advise their clients, and the massive potential for growth in Western Australia.
Hi Kishor. Tell us a little about your business
We started Adept Bookkeeping in 2012. The idea was to provide business owners with timely, accurate financial data that would help them make better business decisions.
Advancements in technology – in particular the growth of SaaS providers like Xero and Unleashed – have allowed us to provide information on an hourly basis as opposed to weekly when we first started.
We work with everyone from wholesalers, to B2B product suppliers and retailers.
How did you hear about Unleashed?
We heard about Unleashed at Xerocon. We’re HUGE fans of Xero thanks to the value and ease-of-use it provides both our staff and our clients.
We watched an Unleashed product demonstration at Xerocon and our first impression was that the software would make life a lot easier for our clients – as well as helping us provide them with accurate, up-to-date data.
Why do you think inventory management is important?
For most of our clients 95% of their revenue comes from selling inventory, so it’s imperative they have a robust inventory management system that gives them the tools they need to run their business.
Having a good system in place means you can know the status of each and every customer and supplier order, get accurate stock levels for every product, and see the profit made on each product.
What are some of the challenges you find businesses facing?
Bad data is an issue for businesses. Inaccurate inventory info leads to clients promising their customers delivery dates that they can’t honour. It means staff have to visit the warehouse to double-check the availability of products. It also leads to overstocking products, which increases workloads.
Another problem is a lack of in-depth financial information like the landed cost of each product, the price gained for each sale and the margin made on each sale.
This sort of data is invaluable for business owners. It helps with negotiating costs with suppliers and tells them the minimum price at which they can sell each product.
How does the future look for your business? Anything exciting coming up or something that you are working on and can tell us about?
We recently rebranded ourselves and shifted our focus from purely bookkeeping services to becoming an Unleashed partner. We want to expand our Unleashed inventory services offering in Western Australia as we see a massive potential for growth.
Unleashed is a complete inventory management software that provides all the tools our clients require for their inventory management.
It also provides accurate inventory information, per sale profit information and readily available business dashboards.
How has Unleashed helped your customers?
Using Unleashed has improved their efficiency and made the business more transparent with their staff (sales staff in particular). The software has all the tools required for inventory management, as well as readily available business dashboards: the amount of easily accessible financial data it provides is a huge boon. It’s also easy to learn and has many efficiency improving shortcuts.
Article by Greg Roughan in collaboration with our team of inventory management and business specialists. Greg has been writing, publishing and working with content for more than 20 years. His writing motto is ‘don’t be boring’. His outdoors motto is ”I wish I hadn’t brought my headtorch’, said nobody, ever’. He lives in Auckland, New Zealand, with his family.