Cloud-based retail management company, retailcloud continues to innovate with the introduction of mInventory, the latest addition to its mobile POS suite. The new application enables small and midsize businesses (SMBs) to easily add, organize and manage inventory via their Google Inc. Android devices, according to the company.
"We believe that mobile is a very powerful device especially for SMB retailers," stated Kevin Colaço, founder of retailcloud. "The ubiquitousness of smart phones, as well as the low cost of entry of Android devices, means that small and midsized merchants can now use mobile technology to get solutions that up to now were only available to larger retailers."
Ideal candidates for mInventory include small merchants who may lack a formal cataloging system or new merchants seeking to build an inventory management system from scratch. Fortunately for SMBs, retailcloud has managed to keep the process simple, the company noted.
"Simply scan the bar code right from the warehouse, stockroom or receiving area and you are on your way," said Eric Kirk, Vice President Sales at retailcloud. "Inventory is the biggest asset for all retailers, so the management of inventory is key to success; not only will you now have your products accessible on your mobile devices, but these items will be immediately sent to the retailer's back-office system."
According to retailcloud, the application streamlines all inventory processes so that when merchants add inventory into their systems, they simultaneously access the category management tools to analyze how well product categories are organized.
With this tool, merchants can adjust products accordingly, which may enhance sales based upon more efficient product groupings. And real-time competitor inventory pricing is also available through the app.
In terms of pricing, mInventory can either be used in conjunction with retailcloud's free mPOS solution or as part of its paid premium license program.
"The full retail solution is based on the number of points of purchase at each location," said Sheena Shastri, who handles marketing for the company. "ISOs continue to receive up to 30 percent on our license fees [as] resellers; and channel partners can get license packs that can reflect discounts as high as 50 percent of the list price and set their own retail pricing. Channel partners can also private-label the application and restrict the payment processing options on merchants they board into the system."
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