About Finale Inventory
Finale Inventory is a company that specializes in inventory management, operating within the software and technology industry. The company offers a cloud-based inventory management system that handles all stock movements from purchasing to sales, including features such as warehouse management, order management, and eCommerce tools. It primarily serves the eCommerce industry. It was founded in 2009 and is based in Palo Alto, California.
Latest Finale Inventory News
Sep 11, 2023
Published Sept. 11, 2023 SPONSORED CONTENT BY When growing ecommerce businesses look for software solutions to improve team efficiency and accuracy, sellers tend to go down one of two paths: pursuing either an inventory management system (IMS) or an enterprise resource planning (ERP) tool. While this makes sense at a macro level with both tools having the ability to consolidate a large degree of company data and needs within one tool, there are vast differences at a micro level. The core function an IMS plays is to ensure accurate inventory counts across sales channels. As if helping sellers avoid overselling wasn’t enough, modern-day IMS programs can also help with the management of a seller’s product procurement, orders and warehouses. Further, with such a big tie-in to the finances of a business, many IMS players have financial tools like QuickBooks Online or Xero incorporated into them as a way to help sync product purchases, costs, inventory valuation, etc. On the other hand, the core function of an ERPis more strongly tied to the financials of a business. With the ability to integrate sales channels, inventory and other tech stack solutions, the ERP aims to be the sole source of information for a company and prioritizes the structuring of data in order to populate the general ledger properly. As you can see, IMS and ERP systems are meant to do very different things and are also set up in very different ways. Without going too deep into detail just yet, ask yourself the following questions when considering which is the right path for your business: Are you looking to solve operational issues or to be more financially compliant? Think about your team, tech stack, and processes: are you in a state of growth and experimentation, or is everything well-defined and fail-safe? Do you prefer a “plug-and-play” solution, or do you have technical resources (or budget) to do integrations? What timeframe are you looking to have a solution implemented by? (Weeks, months, years?) What is your overall budget to implement a solution? If your answers align more with the former option than the latter, an IMS is probably the right solution for you. However, if your answers landed more with the latter options, it sounds like your business is less of a growth seller and more of an enterprise, and the best fit is the enterprise resource planning tool. Why is this? It’s because ERP tools like NetSuite, Sage, SEP, etc., are set up around a broad-reaching, well-defined process. Implementation is meant to map out data points and cement the way in which teams work. On the other hand, inventory management solutions like Finale Inventory are meant to be customizable for growing teams. They’re made to be flexible: they’re counting on your tech stack changing and that’s why IMS software platforms come with so many pre-integrated tech stack options. Not only does this make getting started with an IMS significantly cheaper, but it also makes onboarding faster. ERPs do have the advantage of facilitating processes between a wider variety of technical resources (think sales CRM, marketing automation tools, etc.) and having the entire team (normally hundreds or thousands of employees) work within the same tool. However, with this breadth of product offering comes a depth of complications: should one part of the system go down, there’s a risk everything else within the ERP can face troubles or go down, as well. There’s a reason why deciding on when to update ecommerce systems and what solution to pursue can often be overwhelming. Especially when ERP systems can cost hundreds of thousands of dollars to implement (across months, if not years), the added pressure of financial and competitive setbacks is very real if the wrong decision is made. At Finale Inventory , we’re proud when sellers outgrow us and move on to ERP systems because they’re now managing millions of orders across a few hundred team members. However, we've often seen the opposite: sellers believe they’re ready to migrate to an ERP, end up having buyer’s remorse and, many times, come back to using Finale to help their business grow. Finale Inventory has been around for over a decade and has worked with thousands of sellers over the years. We’ve stayed in business because we help ecommerce businesses grow, plain and simple. Talk to our team to learn more about how sellers use Finale to meet their unique needs or for a more in-depth comparison of an IMS vs an ERP system (features, related costs, implementation timeframes, etc.) download this ebook .
Finale Inventory Frequently Asked Questions (FAQ)
When was Finale Inventory founded?
Finale Inventory was founded in 2009.
Where is Finale Inventory's headquarters?
Finale Inventory's headquarters is located at Palo Alto.
Who are Finale Inventory's competitors?
Competitors of Finale Inventory include Shopventory and 5 more.
Compare Finale Inventory to Competitors
Cin7 is a company that focuses on providing inventory management solutions, operating within the technology and retail sectors. The company offers a range of services including inventory management, point of sale, electronic data interchange, and third-party logistics, all aimed at simplifying retail and wholesale operations for businesses. Cin7 primarily caters to sectors such as fashion and apparel, furniture and showrooms, flooring, and food and wine distribution. It was founded in 2011 and is based in Auckland, New Zealand.
Fishbowl Inventory produces manufacturing and warehouse management solutions that integrate with QuickBooks. The company serves various industries such as agriculture and electronics.
Extensiv provides third-party logistics providers (3PLs) and private warehouse managers with cloud-based warehouse management software. The software integrates with a large number of eCommerce enablement technologies, enterprise resource planning (ERP) platforms, accounting packages, shipping partners, and other supply chain technologies. Extensiv was formerly known as 3PL Central. It was founded in 2006 and is based in El Segundo, California.
Linnworks is a company that focuses on ecommerce operations within the technology sector. The company offers a range of services including inventory management, order management, warehouse management, and reporting, all from a centralized platform. Their primary customers are ecommerce sellers, multiproduct sellers, and Amazon FBA. It was founded in 2005 and is based in Chichester, England.
Katana provides production and inventory software for manufacturers. Its solutions include live inventory management, shop floor control, omnichannel order management, contract manufacturing, and more. The company was founded in 2017 and is based in Tallinn, Estonia.
Bossa Nova Robotics creates autonomous service robots for the global retail industry. Bossa Nova technology and services empower retailers to make informed inventory decisions and take rapid action by automating the collection and analysis of on-shelf inventory data in large-scale stores. Retailers can therefore improve their productivity and create a better shopping experience. It was founded in 2005 and is based in San Francisco, California.