Accounting software disruptor iplicit launches stock and inventory management feature

True cloud accounting software provider iplicit has launched a fully integrated stock control module – helping accounting and finance leaders to reduce manually intensive processes, decrease human error, streamline reporting, and improve inventory visibility. 

The UK-headquartered business has ploughed 15 months of development time and invested over £1 million into its latest stock and inventory management software development.

Alongside providing a detailed view of stock levels and values across multiple locations, users can see customer orders, items on order with suppliers and goods awaiting delivery – the software’s clever analytics functionality means that organisations can accurately forecast future stock requirements. This clear visibility helps reduce surplus orders and unnecessary spend, alleviating the impact of current shipping delays, and increasing the efficiency of the entire stock management lifecycle.

Additionally, the new automated feature allows users to manage multiple sites and multicurrency transactions with ease – all without the additional requirement of human resources. It will play an integral role in iplicit’s delivery of its true cloud solution to over ten-times more daily users – 60,000 – and 20,000-plus organisations by 2025.

Speaking about the company’s stock control release, iplicit’s product director Brian Weaving, said: “Accounting and finance leaders are coming to us with an immediate need to eliminate the annoyances they’re experiencing with clunky, unfit-for-purpose software that can’t keep up with the pace of their growing businesses.

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“A big part of that is the lack of seamless integration between accounting and stock systems – and this is leaving finance departments operating blindly because they’re unable to collate and report on critical figures with any kind of accuracy or speed.

“Combining these functions, our stock and inventory management feature generates a single version of the truth – resulting in slicker, real-time reporting of stock and increased costs management visibility. Armed with this data, finance leaders have the crucial additional time and clarity they need to pursue their growth ambitions.”

Recognising that external factors may prevent some users from being able to switch solutions when they’re growing at pace, iplicit has retained the ability to seamlessly integrate its accounting software with other stock control systems, offering ultimate choice for users.

Brian added: “The beauty of iplicit is the different options we offer. We don’t want anyone to become a hostage to their accounting and finance software – as is the case with several ‘fake cloud’ options on the market. Our true cloud offering puts the power back into the finance department’s hands to make positive choices that impact their business’s bottom line.”

Launched in January 2019 by a team including the founders of finance solution Exchequer Software, iplicit integrates with other cloud applications and provides users – from industries such as accountancy, not-for-profit, recruitment, education and wholesale distribution – with real-time reporting capabilities, automated data migration, rapid implementation, and a public API to break down data silos.

More than 350 organisations and 5,000 active users – spanning 52 countries – currently access iplicit’s software daily. The award-winning organisation also recorded a 162% growth in revenue last year, and has launched a finance and accounting partner programme to continue its trajectory.