Software That Can Help You Stay Ahead in the Medical Supply Industry
Running a medical supply business comes with its own set of challenges, from managing inventory to ensuring accurate invoicing. Windward System Five is designed to address these common pain points, offering a streamlined solution that enhances efficiency and customer satisfaction.
In this blog, we'll explore how Windward Software can help you tackle these challenges, focusing on flexible quoting and the detailed steps involved in the sales and invoicing process.
The Business Problem:
Here are some of the problems lighting show rooms like yours run into:- Complex Inventory Management: Tracking a wide range of products and ensuring timely restocking.
- Invoicing Accuracy: Avoiding errors that lead to financial discrepancies and customer dissatisfaction.
- Flexible Quoting: Providing tailored quotes for customized orders efficiently.
The Software Solution:
Here’s how Windward System Five can help you:
Flexible Quoting for Medical Supplies
Flexible quoting is crucial in the medical supply industry. System Five uses miscellaneous non-inventory items, like wheelchair parts labeled with 'MISC' and the ADP code. When creating a Purchase Order (PO), you can include the client's name and a note saying 'Per order form attached,' then attach the quote/order form. This ensures adjustments based on client needs and order requirements.
Tracking Sales and Invoicing Steps
System Five offers a robust process for tracking sales and invoicing, ensuring that every transaction is accurately recorded and managed. Here’s a step-by-step look at what happens when an invoice is created in System Five:
- Inventory Deduction: The inventory is immediately deducted from the stock.
- Retail Price Calculation: The retail price is calculated based on various scenarios.
- Warranty Information Storage: Information is stored for warranty purposes.
- Income Posting: The income is posted to the general ledger under the appropriate income category.
- Invoice Totals: The invoice total is posted to cash received or the customer balance is updated in case of a charge sale.
- Tax Calculation: Taxes are calculated and posted to taxes payable in the general ledger.
- Cost Price: The cost price of the inventory is removed from the inventory ledger and posted to different cost of sales accounts based on the actual inventory sold.
Enhanced Purchasing
In the medical supply industry, System Five's Purchase Order feature allows users to distribute Extra, Freight, or Duty charges based on the "Ordered" quantity instead of the "Received" quantity. There's even a supplier-level override for flexibility. This benefits businesses who face challenges with cost distribution.
Windward Software is powerful inventory management and invoicing software for the medical supply industry. System Five's comprehensive process for order fulfillment is welcomed by shops just like yours.
By leveraging these features, businesses can improve their efficiency, accuracy, and overall customer satisfaction. If you're looking to streamline your operations and enhance your business processes, System Five is the solution you need.
How To Get Started:
To discover how Windward Software's ERP can transform your Lighting Showroom, book a live system demonstration today and take the first step toward improved operational efficiency and profitability.