Best Stocktaking Software: Comprehensive Comparison + Customer Reviews

Stocktaking is considered one of the core processes that directly affects daily sales profits. In this regard, stocktaking software and systems are used to manage the stocktaking process in warehouses with high accuracy and in less time. The importance of stocktaking software is demonstrated by revenue statistics: 194.6 million US dollars in the Middle East and Africa region in 2023, according to the Fortune Business Insights website.

The most important questions here are: how do you choose stocktaking software that meets your business needs? And what are the key features to look for that make a real difference in inventory management? This is what we answer in the following lines of the article, where we review more solutions to help business owners and managers choose the best stocktaking software.

1- Stocktaking Software from Daftra

 Daftra’s stocktaking software is an integrated system for managing and performing stocktaking across more than 50 different business sectors. The program is specifically designed to help organizations verify product quantities in simple steps, automate stocktaking stages, and generate accurate reports on stocktaking data and inventory summaries over a specified period of time.

Features and Services of Daftra Stocktaking Software

•  Managing stocktaking in warehouses

 Entering the actual quantity of goods in warehouses and storage facilities, which is done through simple steps via the stocktaking management page on Daftra’s interface.
 

• Monitoring stock levels of goods

Automatic comparison between the quantity of goods entered manually and the quantity recorded in Daftra’s stocktaking software, in order to identify any surplus or shortage in inventory.
 

• Applying stocktaking adjustments for goods

Enabling control over discrepancies resulting from stocktaking comparisons, whether shortages or surpluses, through a simple automated process via the management of warehouse vouchers (issuance or addition).
 

• Saving and backing up goods data

Saving any data entered into Daftra’s stocktaking software automatically as a draft through the system’s automation features ensures data protection in case of interruptions or technical issues and allows the stocktaking process to continue without having to repeat steps due to data loss.
 

• Providing accurate reports on stock levels and stocktaking results

Daftra’s stocktaking software provides accurate reports on stocktaking sheets, inventory operation summaries, warehouse balance summaries, and trial balances for goods and products.

• Linking and integration between the goods software and other accounting systems

Integration between the stocktaking software and the general accounting system to ensure linking and updates based on periodic and perpetual stocktaking data.
 

• Providing stocktaking calculation using all methods

Inventory stocktaking for goods and products in Daftra can be calculated using the FIFO method, which stands for “First In, First Out,” meaning that the stocktaking assumption is that the first goods and products purchased and entered into the warehouse are the first to be sold.

The second method is LIFO, which stands for “Last In, First Out,” where the stocktaking assumption is that goods are sold in the order they entered the warehouse, with older goods remaining in stock for a longer period. Both methods can be applied in Daftra through the purchase report and the detailed inventory movement report.
 

Some user reviews of Daftra software

Subscription prices for Daftra’s stocktaking software

 The system offers a 14-day free trial and 3 plans to suit all business needs and users’ budgets.

Monthly subscription in Daftra

Annual subscription in Daftra

You can also download the inventory stocktaking application from the Google Play Store or the App Store.

2- Stocktaking Software from VOKO ERP

It is one of the accounting software solutions that help companies enhance their productivity and make better use of their resources through intelligent automation of tasks, especially operations related to inventory and warehouse management, including the stages and steps of stocktaking.

Services provided by VOKO ERP inventory and stocktaking software

• The ability to stocktake an unlimited number of products, organized into multiple levels.
   
• Enabling stocktaking across multiple units of measure and generating accurate reports based on the unit used.
   
• Automatic or manual coding of product items, as desired, to facilitate the stocktaking process. Coding items helps quickly and accurately locate goods, generate stocktaking reports based on item codes, and reduce duplication across goods during stocktaking.
   
• Generating reports on item balances after stocktaking and clarifying inventory discrepancies resulting from stocktaking, whether shortages or surpluses.

3- Stocktaking Software from Double Click

The warehouse and storage monitoring program in Double Click is one of the modules within the distribution suite in Double Click’s accounting system. It helps organizations and companies easily perform stocktaking across warehouses for all branches.

Services provided by Double Click for stocktaking

• Identifying all types of inventory movements resulting from sales, purchases, sales returns, and purchase returns facilitates the stocktaking process.
   
• Enabling stocktaking of items and goods in the warehouse to determine the difference between the manual physical count and warehouse records at both quantity and value levels.
   
• The ability to view the value of goods after stocktaking across more than one balance, such as the total goods balance, goods in transit, goods under production, or available-for-issue goods.
   
• The ability to perform stocktaking either periodically at the end of the accounting period or continuously and automatically after each issue, supply, sale, or purchase transaction.

Subscription price for DoubleClick software

The program does not provide subscription prices and requires you to fill out a form to request a quote.

4- Stocktaking Software from QuickBooks

It is a business management software designed to meet the needs of small and medium-sized businesses by helping them achieve their goals, improve work efficiency, and increase productivity and profitability.

Services provided by QuickBooks for stocktaking

• The ability to monitor available quantities of goods in real time to avoid stockouts or overstocking.
   
• Enabling periodic or surprise stocktaking of goods.
   
• Displaying comprehensive reports on the status of goods, whether available, sold, or purchased.

Subscription prices for QuickBooks

The subscription price for the basic plan (one unit) is $125 per month, while the advanced plan (two units) costs $159 per month, and the comprehensive plan (all units) costs $185 per month.

5- Stocktaking Software from Odoo

Odoo is a cloud-based accounting software that operates with automation to help companies manage finance, sales, websites, supply chains, marketing, human resources, services, and production operations, in addition to the inventory management and stocktaking module provided by the system.

Services of Odoo stocktaking software

• The ability to stocktake goods and dispose of them based on common inventory picking methods, such as FIFO or LIFO.
   
• Stocktaking based on receipt date to track products nearing expiration.
   
• Enabling stocktaking based on single-item picking, batch picking by location, or picking according to different shipping operations.
   
• The ability to track inventory in real time, as well as track production and sales movements.

Some user reviews of Odoo software

Subscription prices for Odoo

The Standard plan costs $7.25 per user per month, while the Custom plan costs $10.90 per user per month.

How do I choose the best stocktaking software?

You can choose the best stocktaking software by ensuring it provides the following solutions:

• The ability to track and manage stock levels of goods and link them with purchase order management and sales rates to obtain complete and comprehensive insights into expenses and revenues.
   
• Choosing stocktaking software with a simple and user-friendly interface that does not require complex training or technical expertise to use.
   
• Compatibility of the stocktaking software with warehouse voucher management, purchasing, and sales systems.

How does stocktaking software work?

Stocktaking software works through a set of steps, including:

• Entering product details such as name, quantities, price, description, and product identification codes.
   
• Classifying goods by category or type makes them easier to track and access.
   
• Recording sales when goods are sold so that the sold quantity is deducted and stock levels are automatically updated.
   
• Managing new purchase orders for goods and tracking the status of quantities sent and received.
   
• Performing periodic stocktaking to verify the actual quantities in warehouses against the quantities recorded in the stocktaking software.
   
• Providing reports on best-selling goods and peak demand periods.

In conclusion, it is important to realize that stocktaking is no longer just a routine process like in the past, when goods and products were counted manually in warehouses and storage facilities.

With digital transformation and the spread of cloud-based enterprise resource planning systems, stocktaking software now produces accurate, integrated data and information that organizations rely on to make sound decisions about inventory management, purchasing new goods, and rationalizing expenses and distributing resources and goods more effectively and efficiently.

The inventory management and stocktaking software market is expected to grow at a compound annual growth rate of 4.6% from 2024 to 2030, based on statistics and forecasts for the Middle East and Africa inventory management software market.

Therefore, do not hesitate to choose the best stocktaking software from the list of programs and services we reviewed above to accurately track your inventory, improve efficiency, and reduce waste and costs.