Each month at Withers Tsang we take a look at one of the applications and digital programs designed to help your business thrive.
This month we’re concluding our inventory management series with Cin7.
Much like the other two apps we’ve covered in this series, Cin7 is a cloud-based inventory management software. It brings together all your channels, inventory and accounting to reduce the cost, time and effort involved in running your business.
Cin7 offers a range of solutions for everyone from small businesses right up to the enterprise level.
Key products
Cin 7 Core Standard PlanCin 7 OmniCin 7 Orderhive
| This product was previously known as DEAR Systems, which we covered earlier in this series. DEAR Systems was acquired by Cin7 in 2021. As of January 9 2023, Cin7 decided to rename their product range to better align under a unified brand name. | Cin7 Omni is Cin7’s main product and the key focus of this article. It includes three different plans: the business plan, the advanced plan (multi-channel), and the enterprise plan for complex businesses. We’ll explore pricing and the main differences between these plans in this article. | Orderhive is an order, inventory and shipping management software and another product acquired by Cin7 in 2021. It offers eCommerce automation and inventory control as well as order, shipping, manufacturing, and purchase management. |
Some key features
B2B eCommerce
This feature is only available on the Cin7 Omni business plan and upwards. The business plan includes one B2B online store, with the option of adding more stores for an extra cost. You can set up B2B online stores by region, product range or customer groups. This feature makes B2B interactions more efficient and gives your buyers the option to order in bulk by importing their orders through a CSV file.
Built-in EDI
Electronic data interchange (EDI) is the exchange of business documents in electronic format directly from computer to computer. Cin7’s built in EDI translates, communicates and maps data from your retailer’s EDI and ERP system to Cin7’s features such as order and inventory management and invoicing. Cin7 manages the EDI platform, which means you’ll receive onboarding support as well as any other IT support that is required. The first EDI connection is included in the advanced plan and additional connections are priced at $150 per connection per month.
Reports and forecasting
All information and data are updated in real time, so this feature allows you to generate reports with up-to-date values. The forecasting feature is based on historical information such as sales data, and planning tools are available to aid you in purchasing planning based on your past activity. The inventory success quadrant tool shows you relevant data to help you make decisions on what products to sell, what channels to use and the optimal price you should set. These forecasting features are not offered by Unleashed inventory management software, so if this is an important feature for you, Cin7 is the better option.
Complete Amazon integration
Cin7 offers direct integration with Amazon Seller, Fulfilment by Amazon, Amazon Vendor and Amazon Direct Fulfilment. This allows you to allocate stock to Amazon channels and the built in EDI lets you manage Amazon Vendor orders directly from Cin7. With this integration you can make use of the real-time dashboard on the Amazon Seller Portal as well as FBA shipping plans and direct fulfillment (Amazon Vendor). This is also a feature which is not available on Unleashed, so if it’s something that would benefit your business, it could be worth the move.
Third party logistics (3PLs)
Third party logistics companies provide three main functions: warehouse management, shipment consolidation and order fulfilment. There is one 3PL connection included in the Cin7 Omni business plan and Cin7 Omni advanced plan with the option to add additional connections for an added fee. The use of a 3PL expands your reach and increases efficiency in your business. It also enhances customer service by ensuring your products arrive safely and on time. Cin7 has over 150 3PL integrations to choose from.
Integrations
Xero integration
Cin7’s integration with Xero allows businesses to seamlessly connect their inventory management system with their accounting software, so they can automatically sync their financial data between the two platforms. This means they can track their real-time profitability, eliminate the need for manual data entry, and reduce the risk of human errors.
Cin7 is built to be a real time, essentially perpetual, system. However, information captured within Cin7 can accommodate for periodic systems. There’s an option to set up the system as periodic with the Xero integration.
Some of the key features of Cin7’s Xero integration include:
- Automatic synchronisation of financial data between Cin7 and Xero, including sales invoices, purchase orders and payments, as well as customers and suppliers.
- Automatic posting of inventory adjustments and stock movements to Xero.
- Automatic updating of Xero inventory quantities based on Cin7 stock levels.
- Automatic creation and updating of Xero invoices and bills based on Cin7 sales and purchase orders.
- Automatic mapping of Cin7 products and customers to Xero items and contacts.
Overall, Cin7’s integration with Xero allows businesses to streamline their inventory management and accounting processes, allowing them to manage their business from all angles.
Other integrations
Some other integrations worth mentioning:
- eCommerce – Magento, Shopify
- EDI connections – Sephora, Spotlight, Walgreens, Walmart, Farmers, Kmart
- Payment services – AfterPay, PayPal, Windcave
- Accounting – QuickBooks Desktop and QuickBooks Online
When comparing Inventory Management software it’s worth looking into the integrations that the software offers to figure out which one is the right fit for you.
Pricing
Cine 7 Core StandardCin 7 Omni BusinessCin 7 Omni AdvancedCin 7 Omni Enterprise
| $475 per month
* 5 users included |
$1095 per month
* 5 users included |
$1245 per month
* 8 users included |
Custom pricing
* As users as needed
|
NOTE: All prices are shown in NZD and are exclusive of tax.
Standard Connections include Accounting, Marketplace, eCommerce and Shipping connections
With each plan comes the option to add more users and connections
Concluding Thoughts
This review concludes our inventory management series. So far, we’ve covered DEAR systems (now part of Cin7 and rebranded as the Cin7 Core Standard Plan), Unleashed, and Cin7 – focusing on the Omni product.
When choosing the best inventory management software for you it’s important to identify what features are most beneficial to your type of business. Cin7 and Unleashed are both cloud-based inventory management systems that provide businesses with tools to manage and track their inventory, orders and supply chain processes in real-time. Both offer integration with Xero. However, there are some key differences between the two to consider when picking what’s right for you and your business.
Cin7 is a more comprehensive software with different related products and plans and more features. It offers an all-in-one inventory management solution that includes features such as automated inventory replenishment, barcode scanning and integration with eCommerce platforms, as well as EDI and 3PL integrations. It has more advanced functionalities that can handle more complex inventory management needs, such as B2B and B2C eCommerce and wholesale distribution. Cin7 includes a built-in point of sales (POS) system, which allows businesses to process sales and manage inventory levels in real-time. It also includes a manufacturing module that can handle BOM and production management and has advanced reporting and analytics tools.
More directly focused on inventory management, Unleashed is designed for mid-sized and growing manufacturing, wholesale and distribution companies. It has a more user-friendly interface that’s easy to navigate and provides a clear overview of inventory levels and stock movements. Unleashed also includes a range of reporting and analytics tools that allow businesses to gain insights into their inventory and make data-driven decisions, and you’ll arguably receive better technical and onboarding support than with Cin7 products. However, Unleashed doesn’t have the forecasting capabilities of Cin7, and does not offer 3PL management.
To determine whether Cin7 is a better fit for you, you can request a demo on their website.