Trading companies in the UAE have to deal with a lot of challenges in their daily operations. From managing inventory to customer requests, all of these tasks stretch the resources of a trading company very thin. Luckily, ERPNext software has emerged as a great solution to handle all the issues faced by trading companies in their work.
So, let us look at how ERPNext for trading companies assists them in their daily operations in the UAE.

Top Reasons to Use ERPNext for Trading Companies

Smart Inventory Solution

A major function that demands a lot of attention from the trading companies is the management of their inventory. Running out of stock during peak demand time is a disaster for trading businesses. With ERPNext for trading companies, businesses get a ton of useful features that help to manage inventory better.
This includes realtime inventory tracking, automatic sending of delivery requests, record serial numbers, generate reports, etc. These features greatly help in the management of inventory for a trading business, saving both time and cost. The best part of ERPNext for trading companies is that all of these features can be used from a single system.

Ease of Import and Export

Trading companies in the UAE engage in regular commerce with markets outside their country. Importing and exporting goods and services requires the completion of a lot of paperwork and formalities. These are hard to keep track of when combined with inventory logistics.
ERPNext software can also create every document and report needed for customs purposes. It also comes with features including tracking of shipment, calculation of duties, customs, and other fees that must be paid to transport goods to and from the UAE borders. These functions help with compliance regulations and avoid unnecessary delays.

Management of Warehouses and Distribution Centers

Management of one warehouse is difficult on its own for trading companies in the UAE. However, larger trading companies manage multiple warehouses across the UAE alongside all the distribution centers from where they make the sale. They are able to do so thanks to the features provided by ERPNext for trading businesses.
The features of tracking inventory and automated requests for additional stock apply to warehouses and distribution centers as well. However, another major feature that trading businesses can take advantage of is the tracking of customer orders. This helps in removing unnecessary delays and deliver a more satisfying product.

Centralized Sales Management

B2B and B2C both are part of a trading business’s strategy for future growth and profits. However, due to the different nature of sales management in both these forms of commerce, trading businesses need to divide their focus between both kinds of trade. This job becomes very easy with ERPNext for trading companies.
With ERPNext software, businesses can deliver their stock to any type of customer by taking orders from a single system. This removes the need for separate departments handling each of these trades and allows for sales to be made to all kinds of customers without the need for separate systems.

Supplier Assessment

Maximizing the profits of a trading company requires an assessment of suppliers. This is important to ensure that no unnecessary costs are being incurred. ERPNext for trading businesses can track the performance of all the suppliers that work with your trading business. This function allows you to figure out which suppliers are underperforming.
ERPNext software also generates reports on the performance of each supplier which allows businesses to make accurate comparisons with other potential suppliers that can support their trading business. These figures can be used to negotiate better deals.

Easy Handling of Logistics

One of the most common issues faced by trading companies in the UAE is the delay in the delivery of their products. While there are many reasons for such delay, the most common reason is usually a mishandling of all the related logistics. ERPNext software for trading companies is a significant help in this regard as it centralizes logistics management.
Delivery notes, shipping labels, and packing slips can all be made with a single system thanks to ERPNext software. It also calculates all the costs associated with such tasks along with providing tracking of these shipments. Handling logistics has gone from one of the most tedious tasks to one of the easiest with ERPNext software.

Effective Cost and Credit Management

Managing the costs for different types of orders is an important task for trading companies in the UAE. This task is aimed at forming long-term relationships and brand recognition. Similar to managing costs, credit management is also crucial to ensure that the business never faces any shortage of capital due to credit sales.
EPRNext for trading companies greatly helps in this task as it can allow businesses to change the costs of their products in accordance with the order placed by the customer. Offering bulk discounts, special offers, and rewards becomes very easy with ERPNext. ERPNext also tracks all the credit owed to the business, ensuring timely payment of dues.

Digital Payments

For maximum efficiency in the trading business, trading companies have started to incorporate digital payment solutions for their customers. This allows their customers to pay all of their costs without the need to go through any paperwork. To support a platform for accepting digital payments, EPRNext for trading companies is a must.
Trading businesses can track all of the dues owed to them, receive the money from their customers, and then transfer all the received funds directly to their bank accounts. This is a major time saver as all of these would require a lot of effort from both parties.
ERPNext can also handle payments in different currencies as well, making management of digital payments very easy in foreign trade as well. Trading companies do not need to visit any official office to complete the paperwork required to receive such funds as all of them can be completed through ERPNext software.
So, if you are looking to take your UAE trading company to the next level, contact Wahni IT Solutions today.