Review of TradeGecko: Pros, Cons and Pricing of Award-winning Inventory Management System

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TradeGecko No. 1 Alternative

USER SATISFACTION 96%
OUR SCORE 9.3

geckologoManaging the inventory has plenty of pain points, from human error-riddled spreadsheets and cumbersome administrative tasks to expensive ERP systems. Meanwhile, you can’t give your business the attention it deserves because you’re tied to inventory issues. This is the situation TradeGecko, an award-winning inventory management service, wants to change. The goal of this software is to make your inventory management accurate, seamless, powerful and affordable, allowing you to concentrate on actually growing your company.

In this TradeGecko reviews, we’ll discuss the app’s features, advantages, and unique aspects. We’ll also have a look at what actual users of this service have to say about it and we’ll present the awards won by TradeGecko. There’s also an interview with the company’s CEO who discusses some aspects of the service with us and share a few insights about its future.

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. You can easily see for yourself if the software matches your needs by signing up for a comprehensive TradeGecko free trial that’s offered by the vendor.

What are the highlights of TradeGecko?

  • Full inventory control including real-time stock level update, synchronization of various sales channels, and product history visibility
  • Multi-warehouse feature that allows syncing of multiple inventories in different warehouses
  • Multi-channel sales feature that places all yours sales data in one location for easy access and monitoring
  • Analytics that generate sales reports, among others, to identify best products, best performing sales channels, and top-grossing sales teams
  • System integrations allow for complete order fulfillment, from purchased orders to shipping to reorders
  • More robust features besides inventory management, such as: CRM, sales reports, and accounting

What We Like The Most About TradeGecko

1. Designed for wholesalers and distributors…

TradeGecko is designed to handle volume inventories of wholesalers and distributors with its suite of specialized tools. We noted that it can quickly transfer stock data between warehouses, which helps you joggle items where specific products are needed in specific locations at a specific time, or manage consignments in particular territories. You can also specify which warehouse should receive stocks or fulfill orders.

Another wholesale-friendly feature are the price breaks for huge orders or custom pricing for different retailers. Furthermore, TradeGecko has a private B2B e-commerce portal that your business customers log into and only see their assigned pricing and particular location where they can order. If you have sales territories you don’t want to overlap or to cannibalize each other, having this portal is a great solution.

The inventory system is also suitable for businesses with a global market because it supports multiple warehouses, multiple currencies, and country-specific tax policies.

… and for e-commerce, too.

The system is cloud hosted so it allows for 24/7 real-time updates and remote access, two critical aspects for e-commerce sites. 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. For instance, a pending Shopify order is automatically marked as completed once it is shipped from TradeGecko. Aside from Shopify, the software supports WooCommerce, Magento, and BigCommerce. It also lets you customize integration using its API to synchronize sales and inventory data.

TradeGecko, however, is not ideal for brick-and-mortar retail businesses because it lacks POS support, and manufacturers because it is not designed for manufacturing cycles like Bill of Materials and batching. It doesn’t support dropshipping at the moment, as well.

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2. It gives you full control over your inventory

TradeGecko lets you connect different sales channels to one master inventory. Whether it’s e-commerce or different warehouses, stock data is centralized and updated based on real-time sales orders. This means you know what you have, where it is, and how much is the inventory level per product and sales channel. Staff from different locations can also access the same inventory management system for a centralized fulfillment, tracking, and reordering process across your warehouses. Likewise, you’re alerted for reorders based on your preset rules for each product. You can also create sales reports for each sales channel and compare them. This is useful when trying to identify your strong and weak revenue streams.

The software has plenty of standard and specialized inventory controls. As expected, you can view each product’s SKU code, barcode, image, variants, supplier code, price variants, taxable option, and other product details. You can also view inventory as one long list or sort products by customer filters. Other standard features include:

  • Product history
  • Variants (weight, size, color)
  • Barcode scanning
  • Product bundling
  • Multi-item stock adjustments
  • Stock syncing by sales orders or received purchase orders

TradeGecko also gives you advanced reporting tools, such as:

  • Stock-on-hand reports based on retail value, costs, and profit value
  • Location reports
  • Inventory details reports
  • Incoming stock reports
  • Reorder reports

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3. It’s way better than spreadsheets and ERPs

If you’re used to doing the inventory in spreadsheets you know the perennial problem of data accuracy. Without paper trails in spreadsheets, data can be altered at anytime or not be updated on time which can lead to double entries and balance sheet inaccuracies. This is efficiently addressed by TradeGecko, where you get full inventory control. Inventory levels are automatically updated across your sales channels so every time you log in you get the latest data. Likewise, you minimize manual errors because inventory data is synced with your sales and accounting systems. For example, a sales order updates an accounting record in real time. Equally important, the change history lets you track historical inventory data. In short, you can easily trace an error to its exact origin, even identify the person behind it and find out if there’s an intent to distort data. As with most reliable SaaS solutions, TradeGecko offers the remote access benefit that spreadsheets cannot match. You can even set permission levels for different users and migrating spreadsheets to TradeGecko is as simple as uploading a XLS or CVS file.

On the other hand, ERPs are powerful and robust, but that strength is also their main weakness. Small and medium businesses find ERPs overwhelming and expensive, because these systems are designed for companies with an internal technical team. Cloud-based inventory systems offer a logical alternative. TradeGecko is as robust as an ERP, but it’s intuitive and affordable with a monthly plan. You get the same ERP benefits like the ones offered by dedicates solutions and complex tools, including: inventory management, multi-warehouse, multi-channel sales, sales reports, CRM, order fulfillment, bundled inventory (example, one bottle of wine, one wine opener, and two wine glasses = one gift package A), and system integrations. You can also scale the features and pay only for the tools you need at the moment. In fact, this flexibility also makes TradeGecko attractive to large enterprises, especially big companies that are bogged down by ageing inventory systems. 

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4. It has flexible pricing and payment processing

Another major aspect that we really like about TradeGecko is that it supports international businesses. If you have markets around the globe, you must know the difficulty of managing multiple currencies and forex fees as you deal with foreign customers and suppliers. TradeGecko allows you to set the currency that makes sense to customers in different countries. Forex is based on Google exchange rates and is automatically calculated and converted by TradeGecko. Your overseas customers will find it convenient 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.

On the other hand, you can also set the currency for suppliers. For example, if you’re importing raw materials from Spain, set the Buy Price in euros so it’s convenient for the supplier. The system automatically converts the costs to dollar amounts that you need to pay. This may look trivial, but being able to buy in local currency extends your supply chain to small local suppliers that may have perfect raw materials that you need (think of jewelry craftsmen for example).

Likewise, TradeGecko gives you the option to set discount pricing for bulk orders or favorable payment terms. This lets you catch the attention of major buyers using attractive pricing deals.

5. You get more than just inventory tools

Finally, we like TradeGecko because you get more than just an inventory system. As mentioned above, you can complete the fulfillment process by linking the software to your e-commerce site. From orders made on your e-commerce site, you can mark them as complete in TradeGecko, or for US-based companies, connect the software to ShipStation for deliveries. Although we noted that the software only integrates with a few shopping platforms (Shopify, Magento, WooCommerce, and Bigcommerce), 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.

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 categories that make sense to you, view order history of each entry, assign notes, and set visibility control to manage data privacy.

As for accounting, TradeGecko has a Xero integration module. The vendor is also planning for Wave and QuickBooks modules in the near future.

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TradeGecko Pricing Plans

TradeGecko offers a free trial and four paid plans:

Free Trial: no cost

TradeGecko offers a 14-day free trial. You can sign up in just a minute and you cancel at any time. There are no hassles and no questions asked. You do not need a credit card to sign up, so its a great way to test the capabilities of the software before you decide if it fits the requirements of your company. You can sign up for the free trial here.

Basic Plan: $79/month (billed annually) or $49/month

This is the most basic paid plan. Subscribers get access to email support and TradeGecko for Sales. The plan accommodates an unlimited number of  orders a month and 2 users. Included features are: a single eCommerce integration,multi-currency, 1 warehouse and accounting integration.

Business Plan: $199/month (billed annually) or $249/month

With this plan you get access to email support and TradeGecko for Sales as well, but it accommodates 4 users. Additional features include 2 eCommerce integrations, multi-wahrehouse and B2B eCommerce platform

Business Premium Plan: $359/month (billed annually) or $449/month

This is the most popular plan. It accommodates unlimited orders and 8 users. All the features of the Business plan are included in this package and additional features you will get are: 3 eCommerce Integrations, Advanced Warehousing options, Account Manager, Order History and Salesforce integration.

Enterprise Plan: $799/month (billed annually) or $999/month

This is the most expensive plan. It offers access to phone support and accommodates unlimited orders and supports up to 20 users. All the features of the Business package are included and additional features you will get are: unlimited eCommerce integrations, support for Multiple Brands and a dedicated account manager.

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What customers say about TradeGecko

We browsed through numerous user reviews and product reviews to find out what customers think about TradeGecko. In summary, the software gets consistent five-star/four-star ratings across all review platforms and is praised for its ease of use, value for money, and tech support. One verified reviewer who sells fashion products mentioned that she really likes how the system adapts to her consignment model. “I couldn’t find an inventory system that matches my consignment processes so I really appreciate how customer support helped me to configure TradeGecko for my business,” she said.

Another user who has been running a trading company for twenty years now was happy with how support has helped him sync multiple sales channels. “Now I’m able to sync various price lists to different channels. That’s great, because you can do a lot of inventory workflows once you import a CSV list,” he said.

Scalable monthly plans, data tracking, and B2B options are also some of the consistent pros that we found mentioned in most user reviews. For example, Kyle, a furniture wholesaler based in Toronto pointed out that “the UI is very intuitive so it’s easy to manage inventory, purchase orders, and customer orders.

Awards and Quality Certificates won by TradeGecko

Best Inventory Management Software Award for 2016

inventoryOur team of B2B experts run extensive tests of TradeGecko features and the results gathered revealed that this service is indeed a best-in-class inventory management software solution on the market. It’s definitely a must-have service for any company, regardless of its size and dynamics. The award highlights the fact that TradeGecko offers high quality features, has an outstanding customer service, and its track record is the best among products in its category. When clients choose TradeGecko, we are confident to say they are using the inventory management system available on the market today.

 

Rising Star Award

risingThis award is given to new SaaS products that only recently appeared on the market, but are already getting good traction with the customers and are viewed as a service that’s really efficient despite of its young age. TradeGecko was founded in 2012 in New Zealand, but it’s now one of the major inventory management systems relied upon by over 10,000 users in 100 countries across 79 industries.

 

Recommended for Enterprises Award

enterprisesThis award was given to TradeGecko in recognition of its robust features and complex system integrations that are designed with big enterprises in mind. It provides services and functionalities that are aimed specifically at what large companies require. At the same time, TradeGecko underscores the quality of both complex solutions offered and the ability to customize software to the wholesale and distribution industries.

 

Great Customer Support Award

supportTradeGecko won this award for its high quality level of customer support. We evaluated both the versatility of ways to contact with the vendor, their response time and ability to solve any problems a user may have. Likewise, a study of customer experience indicated that TradeGecko enjoys a consistent product rating of 4 to 5 stars for excellent customer service.

 

 

An Interview with TradeGecko CEO

Cameron Priest, CEO at TradeGecko

Cameron Priest, CEO at TradeGecko

We interviewed Cameron Priest, CEO at TradeGecko and asked him what in his mind makes TradGecko unique among its competitors. Here’s what he said:

“TradeGecko positions itself as an inventory management system. However, like any good tech company, it goes beyond the core functions and gets into the real pain points of a growing business.” Priest also mentioned that wholesalers will really like the software’s features such as multiple warehouses, user management, taxation in local currencies, analytics and projections, orders, and sales. Real potential of the service shines when you integrate its inventory system with your accounting software and your online eCommerce stores. “This allows you to create a centralized system that keeps stocks synchronized across stores and automatically pushes invoices to your accounting,” he added.

The CEO also mentioned that TradeGecko will allow SME wholesalers and online retailers to concentrate on moving their business, instead of being bogged down by administrative tasks like inventory management. “Managing inventory is a laborious process dominated by clunky spreadsheets, expensive ERP software and of course, riddled with human error. This is where TradeGecko comes in. The software is aiming to change the way business-to-business commerce is done.”

TradeGecko SmartScore and Customer Satisfaction

Our B2B experts conducted TradeGecko reviews analyzing its functionalities, user experience, customer support and other key elements of the service. Final results as summarized by the SmartScore system gave TradeGecko a very satisfying score of 9.2/10, while the results provided by the Customer Satisfaction Algorithm place the overall user satisfaction rating at 99%.

 

Category: B2B News

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