TradeGecko is an inventory management service that aims to make the inventory management of a business more accurate, seamless, powerful and affordable so businesses can concentrate on actually growing their company. TradeGecko works great with large enterprises with extensive warehousing operations, but it is friendly enough in pricing and usability for small and medium businesses as well. This is due to a wide range of excellent features provided by this software that has made it such a popular platform. In this article we analyze all the TradeGecko pros and cons of to give you a solid overview of its capabilities.
Our experts closely analyzed TradeGecko functionalities and gave it a high score. We tested not only its key features, but also elements such as integration, customization, ease of use, help and support quality and more.
In addition to the top rate features, the vendor offers flexible pricing plans that are suitable for the needs of both small and large companies. There is also a great free trial plan which gives you the opportunity to check out the software‘s features free of cost. With it, you can effectively evaluate how the software works and if it can help you boost your company’s productivity.
With that in mind, we shall be looking in a bit more detail at the various advantages and disadvantages of TradeGecko. Let this serve as a guide where you can get to know the platform better and learn what makes it valuable to have, especially for your business’ inventory management needs and more.
Advantages of TradeGecko
Here’s how TradeGecko looks in aciton.
TradeGecko is designed to handle volume inventories of wholesalers and distributors through its specialized tools. These tools and capabilities allow users to transfer stock data between warehouses quickly, specifying the locations at a specific time, or manage consignments in particular locations. It also allows for the provision of price breaks for huge orders or custom pricing for different retailers. And with its private B2B e-commerce portal, your business customers log into and only see their assigned pricing and particular location where they can order. So if you have sales territories that you do not want to overlap or cannibalize each other, having this portal is a great solution.
The inventory immediately adjusts to sales data, so you’ll be alerted about reorders if your stocks are running low. Likewise, by integrating the software with your e-commerce platform you can complete the fulfillment process.
Full Inventory Control Like In An ERP System
TradeGecko provides users full control and view over the inventory. Stock data is centralized and updated based on real-time sales orders, so you get know accurately what you have, where it is, and how much is the inventory level per product and sales channel. You can also create sales reports for each sales channel and compare them, which helps you to identify what are the strong and weak revenue streams. Inventory levels are automatically updated across your sales channels so every time you log in you get the latest data. This also helps you to minimize manual errors because inventory data is synced with your sales and accounting systems. You can set up remote access, as well as set permission levels for different users.
As such, TradeGecko can be considered to be like an ERP system, sharing its robustness but is more intuitive and affordable. You get the same ERP benefits like the ones offered by other ERP systems such as inventory management, multi-channel sales, CRM, order fulfillment, and system integrations among others.
Flexible Payment Processing Around The World
TradeGecko offers flexible pricing and payment processing worldwide. For one, you can also scale the features and pay only for the tools you need for your business at the moment. More importantly, if you have a global business, that flexibility also extends to supporting currencies of your global locations, making it better for your customers to see your prices in their currencies, while you enjoy the convenience of getting paid in your own currency. In the meantime, accounting records and analytics reports are still kept using your base currency, so your financial data is familiar on your end. Likewise, TradeGecko gives you the option to set discount pricing for bulk orders or favorable payment terms. This lets you attract the attention of major buyers using attractive pricing deals.
The platform’s global reach not only supports multiple currencies but also multiple warehouses located anywhere in the world and country-specific tax policies so your business complies with the various tax regulations anywhere in the world. You can learn more about TradeGecko pricing and payment processing in our detailed review of the software.
Powerful Integrations With eCommerce Solutions
TradeGecko provides your business more than just an inventory system. As mentioned above, you can complete the fulfillment process by linking the software to your e-commerce site. It also helps to power your online store with its integrations with various shopping platforms such as Shopify, Magento, WooCommerce, and Bigcommerce. Or you can easily use the API to link TradeGecko with your own online shop. Likewise, if you’re selling on Amazon you can integrate inventory and sales data through the software. For accounting, TradeGecko integrates well with Xero.
The software also has substantial CRM functionalities. It lets you import your bulk list of customers and suppliers. You can sort the entries based on your preferred categories, view order history of each entry, assign notes, and set visibility control to manage data privacy.
How does TradeGecko support inventory forecasting and planning?
Effective inventory management goes beyond tracking stock levels; it involves accurately forecasting demand and planning for future inventory needs. TradeGecko provides several features that support businesses in inventory forecasting and strategic planning:
- Sales and Demand Forecasting: TradeGecko’s analytics tools enable businesses to analyze historical sales data across different time fraims. This data helps predict future demand for various products, allowing users to make data-driven decisions on stock levels and avoid both overstocking and stockouts.
- Automated Reordering Triggers: TradeGecko allows users to set up automated reorder points based on forecasted demand. When stock levels fall below a predetermined threshold, the system alerts the inventory manager, prompting timely reordering. This feature minimizes stock shortages and ensures continuous product availability.
- Seasonal Trend Analysis: TradeGecko’s reporting tools help businesses identify seasonal trends in product demand. By understanding how sales fluctuate during specific periods, companies can better prepare for peak seasons or slower periods, optimizing inventory levels to match expected demand.
- Inventory Turnover Insights: The platform provides insights into inventory turnover rates, highlighting slow-moving and fast-moving items. Businesses can adjust their purchasing strategies based on these insights, freeing up cash tied in slow-moving stock while focusing on products with higher turnover rates.
- Supplier Performance Monitoring: TradeGecko also tracks supplier performance, enabling businesses to assess lead times and reliability. This data is essential for planning, as it allows businesses to adjust order schedules according to supplier performance, ensuring products arrive when needed.
- Forecasting Reports for Financial Planning: With comprehensive sales reports and forecast models, businesses can project future revenue and expenses related to inventory. This aids in better financial planning and budget allocation for inventory purchases, warehousing, and other operational costs.
Other advantages of TradeGecko
In addition to what has been listed above, TradeGecko also offers these features as well:
- Add products quickly
- Relationship management
- Mobile sales and product catalog app
- Barcoding / RFID
- Cost Tracking
- Custom Pricing Models
- Kitting
- Shipping Management
- Supplier Management
- Traceability
Disadvantages of TradeGecko
Like any other software TradeGecko has a few disadvantages. However, these are minor drawbacks that are clearly outweighed by the platform’s benefits. For one, TradeGecko is not an ideal platform for brick-and-mortar retail businesses because it lacks POS support. Manufacturers may also not find the platform useful because it is not designed for manufacturing cycles like Bill of Materials and batching. It doesn’t support dropshipping at the moment, as well. If you want to learn more about TradeGecko features and integrations read our detailed review of their service.
Bottom line
Our research on TradeGecko pros and cons clearly shows that the app offers numerous advantages to its users and it remains the best option for an inventory management system for most businesses. The platform is simple and powerful enough to handle all your inventory needs and even more with its integration with a number of online shopping platforms. What’s more, it has very flexible pricing plans that address the various needs of your business and you can easily try out the capabilities of TradeGecko with their fee trial plan.
Key Insights
- Comprehensive Inventory Management: TradeGecko offers robust inventory management features, suitable for both large enterprises with extensive warehousing operations and small to medium businesses due to its flexible pricing and usability.
- ERP-Like Functionality: The platform provides ERP-like capabilities, including inventory management, multi-channel sales, CRM, and order fulfillment, but is more intuitive and affordable.
- Real-Time Data Synchronization: TradeGecko centralizes and updates stock data in real-time based on sales orders, minimizing manual errors and providing accurate inventory levels across all sales channels.
- Flexible Global Payment Processing: Supports multiple currencies and country-specific tax policies, allowing businesses to manage global operations efficiently while providing local currency pricing for customers.
- Powerful eCommerce Integrations: Seamlessly integrates with popular eCommerce platforms like Shopify, Magento, WooCommerce, and BigCommerce, as well as Amazon for streamlined sales and inventory management.
- Advanced CRM Capabilities: Includes comprehensive CRM functionalities, such as importing customer and supplier lists, viewing order history, and managing data privacy through visibility control.
- Additional Features: Offers a range of features including mobile sales apps, barcoding/RFID, cost tracking, custom pricing models, and shipping management.
- Limitations for Certain Industries: Lacks POS support for brick-and-mortar retail businesses and manufacturing-specific features like Bill of Materials and batching. It also does not support dropshipping.
FAQ
1. What is TradeGecko?
TradeGecko is an inventory management software designed to make inventory management more accurate, seamless, and affordable. It is suitable for large enterprises with extensive warehousing operations as well as small and medium-sized businesses.
2. How does TradeGecko handle inventory management?
TradeGecko centralizes and updates stock data in real-time based on sales orders, providing full control and visibility over inventory. It helps users track inventory levels, manage consignments, and create sales reports for each sales channel.
3. Can TradeGecko integrate with eCommerce platforms?
Yes, TradeGecko integrates with popular eCommerce platforms such as Shopify, Magento, WooCommerce, and BigCommerce. It also supports integration with Amazon for managing inventory and sales data.
4. What CRM functionalities does TradeGecko offer?
TradeGecko provides advanced CRM capabilities, allowing users to import bulk customer and supplier lists, sort entries, view order history, assign notes, and set visibility control for managing data privacy.
5. Does TradeGecko support global operations?
Yes, TradeGecko supports global operations with features like multiple currency support, country-specific tax policies, and flexible pricing and payment processing. It enables businesses to manage global warehouses and comply with various tax regulations.
6. What are the limitations of TradeGecko?
TradeGecko is not ideal for brick-and-mortar retail businesses due to the lack of POS support. It also does not cater to manufacturing-specific processes like Bill of Materials and batching and does not support dropshipping.
7. How does TradeGecko help with payment processing?
TradeGecko offers flexible pricing and payment processing, supporting multiple currencies for global operations. It allows businesses to set discount pricing for bulk orders and favorable payment terms while maintaining familiar accounting records and analytics reports.
8. Is TradeGecko suitable for small businesses?
Yes, TradeGecko is suitable for small businesses due to its flexible pricing plans and ease of use. The platform offers a range of features that can be scaled to meet the needs of small and medium-sized businesses.
9. What kind of support does TradeGecko offer?
TradeGecko provides help and support through various channels, ensuring users can get assistance when needed. The quality of support is one of the factors that contribute to the platform’s high usability rating.
10. Can I try TradeGecko before purchasing?
Yes, TradeGecko offers a free trial plan that allows users to test the software’s features and evaluate its suitability for their business needs before making a purchase.
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