What is Cin7
Cin7 is a cloud-based application that enables businesses to deliver products to customers swiftly and efficiently, regardless of their location or preferred sales channel. It enables real-time inventory management by automating procurement, manufacturing, ordering, and fulfillment. It’s a centralized platform that enables small businesses in retail, eCommerce, and wholesale to manage their whole supply chain.
Additionally, it is perfect for firms with revenue above $1 million, as it synchronizes stock, sales, and orders across all physical and online sales channels, automating order processes for increased efficiency.
Features of Cin7
Cin7’s features include inventory management software integrated with order fulfillment, the ability to connect B2B sales channels to your warehouse, and the ability to manage stock across various companies and franchises.
Additionally, Cin7 integrates with Xero to deliver automatic updates on your most recent purchases, sales, and inventory values, as well as transparent landing costs and gross profit reports.
Additionally, it integrates with other related software and service providers, including the following:
- Magento, Shopify, Neto, and Big Commerce are e-commerce platforms
- Amazon, eBay, The Iconic, and Joor are marketplaces
- Retailers include Nordstrom, Woolworths, Amazon, and Walmart
- Third-Party Logistics Providers – Amazon, DHL
- Sales and Marketing Providers – Salesforce, Mailchimp, and Google Shopping
Cost of Cin7
Cin7 costs $299 per month to operate; while this is likely too expensive for start-up merchants and eCommerce businesses, it is suited for businesses with revenues above $1 million.
Rating of Cin7
Cin7 is a well-regarded application; on the Xero third-party application website, it is rated 4 out of 5 stars based on 228 reviews, and 4.5 out of 5 ratings based on 297 reviews on the Capterra website.
Retail and e-commerce store case study
To help you see how this would work for your firm, we’ve produced a quick case study demonstrating the potential Cin7 can give. We demonstrate how Cin7 helped a retail store with eight locations and an online store in this example.
Previously, this firm struggled with an unintegrated front office point of sale system and an old back-office system. This retail store made the decision to transition to Cin7, Magento, and Xero eighteen months ago, and sales and earnings have increased significantly since then.
Real-time stock data increased sales
Because it integrates seamlessly with Magento, clients can now view more accurate stock levels online. Prior to utilizing Cin7, if clients placed an order online, they would be contacted one out of every ten times following the transaction to inform them that the supply had sold out.
Cin7 eliminates the need for personnel to load things many times in order for them to appear on the website, point of sale, and backend. Previously, physical labor was tripled because each platform had to be loaded separately.
Cin7 enables the organization to load more items faster and maintain more constant stock levels. Customers can promptly see if there is no stock available, which has resulted in an increase in online sales.
Identifying a system that is a good fit
When the business launched its first location, the team utilized other software but found that it did not meet their requirements as a retail & online business. Older software is generally oriented on the point of sale and rarely properly configured or integrated with cloud setups. While some eCommerce accounting software was user-friendly and simple to use, the business required a one-stop shop.
Cloud based application
Cin7 is adaptable due to its cloud-based architecture, which enables remote access and real-time access to sales, inventory, and purchasing records to make rapid, educated decisions.
Staff issues or faults can also be fixed on the go. For example, when employees transfer the incorrect merchandise in other software, a business might be forced to visit two distinct branches to resolve the issue. Cin7 enables you to swiftly resolve issues from any location.
Employees are more receptive to using Cin7
Additionally, Cin7’s pivot-table reporting is advantageous. With Cin7 reports, you may drag a specific filter to generate a new report rather than being presented with a plethora of useless data.
Cin7 outperforms earlier systems in terms of customer assistance; when an urgent issue occurs, Cin7 typically delivers an instant answer.
If you’d like to learn more about Cin7 or take advantage of our affordable implementation offer, please provide your contact information to discuss with our eCommerce accountants to assist.
Inventory Management plays a big part of eCommerce accounting planning & upkeep, let our Cin7 accountants assist with a best-practice setup, and check out our eCommerce accounting services that will let you focus on growth.
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Stuart Reynolds is the founder of Fullstack Advisory, an award-winning accounting firm for businesses leading the future. He is a 3rd generation accountant who specialises in tech companies, crypto and entrepreneurs.