SkuVault CEO Andy Eastes’ story started in middle school when he began selling things online out of his friends’ parents’ basements, garages, and attics. That eventually evolved into estate sales and then actual stores with actual vendors. Then he helped start an apparel and footwear e-commerce company in Louisville, Kentucky where he soon built his first inventory system. Shortly thereafter he put himself back in the e-commerce business by building the prototype of SkuVault, then called Epic, which he sold to two customers, one of which is still using it today. In December 2012, he launched the web-based system which is now known as SkuVault.
SkuVault is a warehouse management technology platform that also has supporting features to go further back in the supply chain and enable companies to come into the 21st Century, go digital, and be multi- and omnichannel from the beginning. SkuVault takes sales all the way from purchasing up to and through the fulfillment process to then on the backside of that the reporting and analytics. Partnerships and integrations with companies like Webgility and the Virtual ERP for e-Commerce are key to their clients’ success. Continue reading
New research identifies and solves the major problems limiting the effective use of omnichannel selling
We’ve joined forces with Retail Systems Research (RSR), the only research company run by retailers for retailers, to unveil new research that identifies and solves the major problems limiting independent retailers’ effective use of omnichannel selling. The report, “Three Hidden Costs of Omnichannel that Impact the Independent Retailer,” is available for free download. We’re also looking forward to hosting a free webinar with the author of the report and RSR managing partner Nikki Baird on Thursday, March 2, at 11:00 a.m. PT. Register now.
Baird told us, “One of the biggest obstacles of being a small, independent retailer is that you have all of the challenges of big retailers, but none of the resources they have to tackle these challenges. Omnichannel—the act of serving customers holistically across multiple touch points—is no different. Consumers don’t care if the retailer is big or small. They just want to shop how, when, and where they want, in an interaction with a retailer or brand that is seamless and consistent. In this new research, we identify the top hindrances for independent retailers and offer practical solutions that will empower them to make the most of the omnichannel selling environment.”
This new report tackles key issues facing independent retailers including:
- Inaccurate product availability: Small retailers struggle to “see” their inventory. Indeed, RSR found that only 8% of respondents with $250M or less of revenue can see inventory levels across their business, and can promise with confidence that they can sell an item to consumers across multiple selling channels.
Here’s how to stay centered in the midst of the chaos
It’s September, which means it’s time to batten down the hatches for holiday sales. But if you’re like most e-tailers, you might never be fully ready. Truth is, busy small businesses just don’t have time to project and plan for additional holiday inventory and fulfillment or even streamline workflows and minimize shipping costs. At best, sellers are just guessing at the expected velocity of sales. It’s no wonder that, although online retail continues to grow at an exponential rate, profits continue to diminish. Why? Because selling on multiple channels online is inefficient without the right tools. Retailers try desperately to increase order volume, but quickly become overwhelmed by confusion around both finances and logistics when sales do surge. And there’s a price to be paid for all that incongruity—for every dollar made, businesses could be spending more than a $1 on shipping and fulfillment.
Imagine an online retail world where all of your stores, marketplaces, and business applications actually work together to optimize workflows and profit margins. An order—or even a whole batch of orders—comes in from a store or marketplace and syncs directly with a central shipping hub like ShipStation. You instantly compare and choose a carrier based on price and delivery date, seconds later, you click to print a branded shipping label, then confirm and send the customer tracking information. Meanwhile, all that sales data—including customer and product information—syncs with your accounting software, so you don’t have to type in jack diddly squat. Your inventory quantities update accordingly, all fees, expenses, and sales tax are recorded, and you go enjoy some coffee and a glazed donut.
Taking into account time limitations, there are four simple things you can do right away to get ready for the coming surge. Continue reading
Get more from your multi-channel inventory management system
Today we’re pleased to announce an important new integration—Unify for SkuVault. This strategic partnership is designed to save you time and money on data entry by maximizing your inventory management and making it simple to sync sales data into accounting. Simply put, Unify for SkuVault takes e-commerce data from SkuVault and automatically syncs it with QuickBooks Online, QuickBooks Desktop, or Xero. This integration seamlessly pulls together data from any store, platform, location, or marketplace into one easy-to-use software solution.
If you’re an online retailer with complex inventory needs, we’re confident that this partnership has the power to give you peace of mind and the confidence you need to take risks and strategically build your business. Unify for SkuVault allows you to schedule and post online order data from any sales channel or SkuVault directly into accounting. To prevent overselling, you can easily track and sync quantity and price of items in SkuVault with accounting, while all sales and inventory changes can be instantly synced. And by adding in a connection to marketplaces like Amazon or eBay, you can close the loop on your finances by recording fees and expenses in your accounting. The result is easy, complete reconciliation that makes everyone happy, including the nice folks in the warehouse and your favorite accountant.
Leveraging our years of experience in e-commerce, retail, finance, and accounting, we’ve developed Unify for SkuVault to meet the complex inventory management needs of multi-channel sellers like you. We are pleased to partner with SkuVault, an industry leader in the category or warehouse and inventory management, so that you can stop all the data entry that’s involved with bookkeeping, and get back in control of your growing business. To learn more and start a free trial of Unify for SkuVault, please visit skuvault.webgility.com.
The folks at SkuVault know the online retail business and they have some great advice.
It can be difficult to compete in a sea of sellers even if you sell a wide array of products, but some sellers are thriving by doing just the opposite. That’s right, some e-commerce retailers are actually shifting their focus from traditional markets to niche markets and hyper-focusing their product lines to very specific products for very specific audiences. There are a number of advantages to this approach, and our friends at SkuVaul, who know eCommerce inside and out, have the details on how and why niche markets might be right for you. Click here to learn about why thinking small could help your business grow big.