Shopventory announced its inventory management solutions are being integrated with Square’s payments and POS system to help take the hassle out of inventory management for SMBs.
The relationship between the two companies, which targets small and medium businesses, will use the Shopventory platform to keep inventory SKU and cost information in a central database that in turn syncs with Square. Shopventory’s technology also features a “dead inventory” report that alerts retailers to inventory that is not selling. That can help merchants optimize their holdings by helping them decide what items to carry, discontinue, or turn into cash.
The recent announcement of the Square tie in adds to Shopventory’s mobile point of sale services, where the roster includes Clover and Paypal. Shopventory is offering three levels of service, ranging from the most basic, free version to a premium option at $59 per month, and all levels feature unlimited Square transactions.
“Square’s retailers are asking for a simple to use advanced inventory management solution. Shopventory is the answer with ‘easy-to-start’ tools, elegant sales reports, automated optimization and most importantly detailed COGS (Cost of Goods Sold) profit margin reporting,” stated Dave Carlson, Shopventory CEO and co-founder. “We seamlessly integrate with Square and decrement inventory automatically as each sale occurs through Square.”
A recent mPOS report posits that the industry could be poised for another inflection point, with the “next frontier” possibly evolving into the Internet of (payment) things.
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