One of the top business software rating firms from Gartner called software Advice, has recently published a report on some of the top inventory management software. The report published for the month of September segments leading inventory management software across 4 different quadrants. These are –
As a new player, Orderhive has been able to secure a spot as a promising “Contender”.
What do these respective quadrants mean? According to software advice, the front-runners’ quadrants highlight the top software products for North American small businesses.
Software advice has evaluated a total of 115 inventory management products and based the results primarily on two basic variables. These are Capability and Value.
It must also be noted that no quadrant is better than the other. In other words, software placed in each of the quadrants are catering to a specific set of needs. However, as far as Orderhive’s vision is concerned, we want to expand on our features and appear in the Leaders quadrant in future.
What do these 4 quadrants mean anyway?
“Upper Right = Leaders: Leaders are all-around strong products. They offer a wide range of functionality to a wide range of customers. These products are considered highly valuable by customers.
Upper Left = Masters: Masters may focus more heavily on certain key features or market segments than Leaders do. If you need a more specialized set of functionality without bells and whistles, then a product in the Master’s quadrant might be right for you.
Lower Right = Pacesetters: Pacesetters may offer a strong set of features, but are not rated as highly on value. For example, a Pacesetter might offer greater functionality but cost more.
Lower Left = Contenders: Contenders may focus on a more specialized set of capabilities that are priced at a higher point. This makes them ideal for companies willing to pay more for specific features that meet their unique needs.”
At Orderhive, we envision to make a software that solves inventory management challenges efficiently. We tend to achieve it by understanding the differing business needs and providing great execution at the development level. We take one problem at a time with respect to the features of our software and optimize it. The goal is to produce something better than our competitors while keeping the price competitive.
Purchase order management is an important part of the entire inventory management cycle for online sellers. It contributes a lot to inventory optimization. And as we progress through time learning more about the industry, we will keep making progress by working on our features and making them better than ever.
Software advice suggests that “Contenders” may provide specialized features at a higher price point as a part of their strategy. This resonates with our current offering of Orderhive Plus. Orderhive Plus offers customized solutions and features that are crafted according to specific business needs.
While it is an effective solution for dynamic inventory management needs, adoption of a custom system does require some form of client qualification. This often occurs after an initial trial of the primary software has been experienced by the user.