TradeGecko is a cloud based procurement software solution which is optimized for online businesses operating in today’s modern world. With TradeGecko, you can handle your inventory and order management needs using a single platform. It lets business owners combine sales for all of their channels, locations, and currencies in one package. This lets owners manage all of their products, customers and orders using a single application.
What is TradeGecko Procurement Software?
TradeGecko is a powerful solution which offers users many options for managing their procurement needs. Users can create purchase orders, backorders, stocktakes , adjustments, keep track of pack sizes, keep track of batches, and keep track of expiry dates with TradeGecko. In addition, it integrates with many major ecommerce platfomrms such as Amazon, WooCommerce, Magento, and Shopify. To make things even better, the software lets you email quotes to customers and send links to invoices which facilitate credit card payments.
With TradeGecko, you will be able to generate useful business analytics which can help drive your business forward.Users also have access to a customizable B2B ecommerce store. With this businesses can create their own wholesale ecommerce store online. A unique catalog and pricelist can be generated for each customer.
Benefits of TradeGecko
TradeGecko offers it users tools aimed at boosting productivity through process automation and customer engagement. Below are the major benefits your business will reap by using this software:
- Analyze trends: Businesses have access to data which helps to optimize its assets.
- Smart interface design: The interface is intuitive to use, allowing for easy point and click navigation. The items and products in a business’ inventory are displayed in a well defined and organized catalog. Each page has a dedicated details page which displays details like stock availability, barcodes, tax options, and prices. It’s easy to monitory a prodcut’s purchase history, and detect unexpected sales activity. This allows for better information on when to reorder items. It’s also possible to automate the replenishment of items based on demand.
- Multiple uses: You can handle your accounting, invoicing, order management, sales, and reporting with TradeGecko. It also integrates with several well known systems.
- Seamless Recalls: TradeGecko simplifies the recall process with its Batch and Expiry Tracking feature which lets users trace products through their sales order records. In addition to managing possible recalls, the Batch and Expiry Tracking feature assists businesses in improving their customer relationships, reducing discounting, and reducing spoilage.
- Strong focus on automation: This procurement software automates everything from the ordering of an item to quotations. If a sale is made final, it can be used to automatically send invoices and monitor payments in real time. Semi-fulfilled orders due to lack of inventory are also taken into account. When stock is replenished, the order process is automatically resumed.
Let’s examine the features which make TradeGecko a great procurement software. TradeGecko is able to do many things. Therefore, some of the features covered aren’t directly related to procurement. However, having these features indirectly make your business’ procurement run more smoothly.
Advanced Inventory Management
Trade Gecko allows you to display your entire product list or to just view products according to filters you apply. Detailed information about each product is displayed. This includes stock history, re-order point, and the moving average cost (MAC). In addition, the stock-on-hand and committed stock for each of your business’ locations can also be displayed.
It’s helpful to describe your items in as much detail as possible so that when you are reviewing your inventory you know exactly what you have in stock. You can add images, variants, SKU codes, barcodes, descriptions, notes, sellable options, retail prices, buy prices, sizes, colors, weights, and supplier codes to items with TradeGecko. You also have the option of marking items you currently sell as “Active state” or if you aren’t selling them, you can set them as “Disabled state”. This option is useful for seasonal products.
Detailed product history information is readily available, letting you view information about each restocking event such as quantities, dates, and the person who place the purchase order. Stock in hand is automatically updated when orders are filled or when a purchase order is received.
Batch and Expiry Tracking
This feature improves product traceability by letting teams designate products to different batches, and tracking item progress from purchase orders, to stock adjustments, and sales orders. You will be able to confidently sell to customers knowing that you are sending them the right batch using FIFO (first in first out) fulfillment logic. You are basically able to reserve specific batches for preferred customers.
To save time, TradeGecko lets you enable batch tracking for multiple products using a CSV file. Accurate inventory can then be maintained using the Stocktake tool which lets you scan the barcode of the products you’re tracking. Even if you have multiple warehouse locations, inventory levels can be kept up to par by simply transferring batch tracked products across locations.
Product expiry dates are easy to keep track of with TradeGecko. When you receive products, you can record the expiry information and can track them accordingly, reducing spoilage and the need to discount stock which will expire soon. Conversely, by knowing which products will expire soon, your sales staff can adjust accordingly and make sure to sell this stock off first.
If your business ever needs to recall products, you will be able to quickly identify affected items and reach out to affected customers thanks to this feature. Some customers also have strict traceability requirements. The detailed batch information assigned to items with this feature makes it easy to match the expectations of these customers.
Manage Multiple Locations
Businesses can create different stock locations in the software to match the physical reality, then simply transfer stock between locations as needed. This stock location information can be edited with ease using a CSV file. Various product variant locations can be traced to different warehouses. TradeGecko also lets you set up consignment locations, allowing you to create sales orders from these locations.
Customer Relationship Management (CRM)
You’re able to keep all of your customer and supplier data in one place with this procurement software. If you want to communicate something, you can either leave a note to suppliers or customers which can be viewed by your entire team. You will also have access to information detailing the orders made by every customer in your database. In addition, businesses can set default tax rates and default levels on a company to company basis.
Get Alerts For Important events
You will be alerted when your stock is too low to fulfill an order. You will also receive alerts based on the reordering levels set up by your business.
Effectively Manage Purchase Orders
TradeGecko supports multi-currency purchases. It converts transactions to the base currency you set in your accounting records. Adding expenses such as landed costs is also easily facilitated.
Supplier information can be readily accessed when it’s time to make a purchase order. Instead of having to manually scan spreadsheets for this data, it is all at your fingertips when you use the Purchase Order function. Items can also be added to a purchase order by simply scanning their barcodes.
You have the option of emailing your purchase orders with this software. You can also indicate in TradeGecko whether a purchase order is tentative, or if it is in the process of being fulfilled. This is useful information for your team members who will want to know how things are progressing.
Several Useful Administrative Tools At Your Disposal
With TradeGecko, you can bulk edit product details such as SKUs, variant names, prices, and tags. Document titles can also be edited. Your business will naturally consist of multiple team members who will need access to the software as well. You can invite team members via email to join TradeGecko, allowing your entire team to work together with real-time updates. You will be able to set the level of access that each team member has. Team actions are recorded on a timeline allowing you to see who did what and when. You also have the option of managing multiple businesses with the software. It lets you switch between separate accounts with a single click.
There are different pricing tiers for TradeGecko. Depending on your business’ needs, certain packages might suit you better. See below for more information on the various tiers offered.
The Lite package is an entry level plan geared towards new businesses. It’s priced at $99/mo, lets you have 2 users, 1 ecommerce channel, and supports 150 sales orders per month.
This plan is well suited for growing wholesale and ecommerce businesses. It’s priced at $249/mo, supports 5 users, 2 ecommerce channels, and 500 sales orders per month.
The Business tier allows for full control and gives users advanced warehousing and custom B2B functions. This pricing tier goes at $699/mo. It supports 8 users, 3 ecommerce channels, and 1500 sales orders per month.
This package is aimed at larger businesses who have high volumes of orders. The premium package is priced at $799/mo, supports 15 users, 4 ecommerce channels and 3500 sales orders per month.
This is an enterprise level setup. You will have to contact TradeGecko for a quotation. It offers unlimited users, unlimited ecommerce channels and unlimited sales orders every month.
Trade Gecko is available through a web interface but there is also a mobile app for iOS available. Your data is synced to the cloud and therefore available across multiple devices easily. English is the only language which is supported.
There is a helpful knowldegebase vailable which provides help on topics such as CRM, forecasting and shipping. There is also an informative blog available. It’s updated regularly and has articles on areas such as social ecommerce. If you need to contact a person, then you have the option of submitting a support ticket as well.
TradeGecko will help you save time on managing inventory since it automates many processes. It also lets you manage your products and customer relationships with its mobile app. If you are looking to streamline, and automate your procurement process and take your business to the next level then TradeGecko is a viable option for you.