What are we doing and why? Good question. We have created a new On-Demand Inventory Management System that is designed to work very closely with QuickBooks Enterprise. We did this because we saw a nice opportunity that no one else was filling.
What is On-Demand? Simply put, it is the future of all software. On-Demand is also known as Software as as Service, and it is going to change the way you work and play.
People are used to paying large sums of money up-front for software and then a yearly software maintenance and support fee on top of that. On-Demand changes everything. There are no up-front costs, and all you pay is a low monthly subscription, which includes tech support and version upgrades.
On-Demand Software simply mimics the way people prefer to pay for large capitol expenses. Think of your satellite TV bill, your cell phone bill, your electric bill. You don't pay $20,000 up-front and get satellite TV for life, you pay $70/mo. You lease a car, you rent a condo. As a society, we choose On-Demand all the time, we just don't think about it for software.
Except for your online banking software, your iTunes account, your Web email provider, your online taxes, and your web-based travel service. I take my last statement back, we already use On-Demand software all the time.
And it is just going to become more prevalent. In five years, it will be very hard to find any software that you can buy and install on your own PC or Server. It will all be Internet based.
So Velocity Inventory has that going for it. What else make us special? We work with QuickBooks in a way that no one else does. We are complementary to QuickBooks. We fill the gap in the operational side of Inventory Management. All the transactions that happen in the warehouse, we handle that. But your Purchase Orders and Bills, Sales Orders and Invoices, all are in QuickBooks. Right where you want them to be. Other Inventory Management systems take those functions away from QuickBooks. They make you do all your day to day functionality in their system, not in QuickBooks. They basically neuter QuickBooks and make it a glorified GL. And I am guessing here, but that is not why you bought QuickBooks.
You bought QuickBooks because it is easy to use. You can train a new employee in a few hours, not a few days. We know that and we made Velocity Inventory easy. It looks, feels, and smells like QuickBooks, and it is easy for your warehouse folks to learn. Really easy.
We made a decision to create a mindshift in the way QuickBooks users view their inventory. But now we realize Velocity Inventory is going to change everything. We are going to bring a true inventory management system to the Small and Medium Business. At a price they can afford. All the sudden the combination of Velocity Inventory and QuickBooks is comparable to ERP systems costing well north of $100k; and if a small nimble business has the same functional technology of their bigger well established competitors, watch out... good things are going to happen.
Enjoy success,
Kevin
