Intuit QuickBooks is revolutionizing online commerce for businesses that sell products by unveiling an innovative set of ecommerce capabilities for QuickBooks Online.
With the holiday season approaching, this is a timely launch for small businesses, as it will help them seamlessly oversee their inventory across multiple sales channels.
Historically, product-centric businesses have relied on rudimentary tools like spreadsheets and even the traditional pen-and-paper method to manage their inventory.
However, with customers projected to ramp up their spending by 35% compared to the previous holiday season and half of that budget set to be channeled toward small businesses, the need for an efficient ecommerce system has never been more critical.
QuickBooks Online’s enhanced ecommerce offerings aim to automate inventory accounting processes and merge various sales channels, resulting in a unified hub for product details, stock status, and bookkeeping insights.
This consolidation empowers business owners with the clarity they require for insightful decision-making.
- Sync Across Channels: Businesses can now link their products, orders, inventory, and payout data without manual intervention. This integration extends to popular platforms like Shopify, Amazon, and eBay, facilitating automated invoicing upon sales order placement.
- Insightful Sales Analytics: With commerce data integrated into QuickBooks Online, businesses can monitor sales trends across channels, spotlighting top-selling products.
- Precise Inventory Management: Businesses can adjust stock levels individually or in bulk, ensuring accurate inventory counts.
- Efficient Stock Replenishment: A unique feature sends notifications when inventory levels dip, allowing businesses to generate purchase orders promptly with a comprehensive view of product variants.
- Transparent Expense Tracking: Businesses can monitor goods and operational costs, utilizing detailed reports for profitability analysis.
Joe Black, Director of Product Management, Commerce at Intuit QuickBooks, emphasized the transformative potential of these enhancements.
“Small businesses that sell products have many sales channels to consider – ranging from multiple online platforms to in-person outlets – and while this can lead to greater revenue opportunities, it can also lead to more headaches when it comes to order fulfillment and inventory management,” Black noted.
“By automating key functions throughout the commerce process and seamlessly integrating commerce data into the books to streamline accounting, we are arming product-based businesses with the valuable insights they need to help succeed in this year’s holiday season and beyond.”
The enhanced ecommerce features are being introduced to new QuickBooks Online subscribers, with existing customers slated to gain access shortly.
Subscribe to Our Newsletter
We do not sell your information.
You can unsubscribe at any time.
Head over to our Facebook Group for Small Business Marketplace Sellers and interact with us and other small business owners. Follow us on Facebook, Twitter, or LinkedIn to stay up to date with relevant news and business insights for your online business.