Consignment Software

Explore the list of the best consignment software here and select the one that can fulfill the specific requirements of your consignment business.

When it comes to managing customers, accounts, and inventory, consignment businesses have special requirements compared to the other types of businesses.. Consignment business model operates uniquely as they resell the products owned by their customers for a specific share of the sale price. Consignment inventory management, auditing, and accurate documentation are primary concerns for consignors and brokers. Thus, they require using the best consignment software to follow a systematic approach towards managing their business. 

What Is Consignment Software? 

The consignment software, also known as consignment store software, is a tool that automates and streamlines all the processes of a consignment business like sales & settlements, inventory management, agreement printing, maintaining accounts, and generating reports. Precisely, the consignment tools allow consignment businesses to manage their customers, consignors, inventory, and contracts ensuring smooth workflow and processes.

Why Does A Consignment Business Need A Consignment Tool?

The consignment tool is useful to the consignment business in many ways like -

  • Provides access to consignor information easily
  • Allows you to search for available inventory based on consignors’ information
  • Enables you to communicate with the consignors on a real-time basis
  • Ensures smooth transaction process and payment collection, credit card processing, returns & exchanges, etc.

How To Select The Best Consignment Software?

Choosing a perfect consignment software can be overwhelming, but GoodFirms can make it easy for you. Just explore the below-mentioned list of the best consignment solutions, apply user-friendly filters, and shortlist the ones that suit your preferences. Here, you will find in-depth information about each consignment tracking software with legit and authentic user reviews enabling you to make the smart decision.

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List of The Consignment Tools | Best Consignment Management Software

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List of The Consignment Tools | Best Consignment Management Software

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Frequently Asked Questions

  • Who Can Benefit From Consignment Software?

    Consignment software addresses the unique business requirements of pawn shops, thrift stores, brokers, and consignment stores. Any business or individual that resells the products for a specific share of sale price can benefit from the consignment solutions. The consignment businesses need to fulfill many legal formalities and follow a streamlined process while buying, selling, storing inventory, documentation, managing customers & payments, and auditing. The best consignment software helps consignment businesses automate their business processes, save time, ensure accuracy, and remain compliant with government regulations.

  • How is Consignment Business Different Than Other Retail Businesses?

    Usually, businesses buy products from wholesalers and manufacturers and sell them to the customers. But, the consignment businesses hold the consignors' products for the time being in exchange of a mutually agreed price. The consignors need to return that amount to the consignment business within a specific time frame to get their products back. When it comes to managing inventory and payments, the consignment business needs to follow a unique approach because of its different working methodology.

  • What Are the Main Functionalities of a Consignment Software?

    • Manages detailed information about consignees, and customers
    • Simplifies inventory management, including segregation of new, used, and store-owned inventory
    • Allows setting up your share price for each product to streamline your resell process
    • Helps in preparing legal documents for every consignment deal
    • Conducts inventory and payment audits
    • Automates the calculation of the amount to be paid to the consignees after reselling the products
    • Integrates POS system with security system ensuring secure transactions
    • Generates customizable reports showing sales statistics, consignments & payments related information
  • Why Should I Invest in a Consignment Software?

    Online consignment shops offer a mix of products at incredible prices. While the consignment retailers are trying hard to differentiate by targeting shoppers and markets of different geographies, the sector is seeing huge competition. Only those online consignment businesses can succeed that are equipped to find and deliver the products that consumers demand, and make the process easy and convenient. Consignment Business Model should incorporate the best consignment software to successfully run their business. Besides saving time and maintaining accuracy in the consignment business processes, several prominent reasons can convince you to invest in consignment store software as given below -

    Efficient Inventory Management

    Using consignment tracking software, you can be assured that there are no issues relating to theft, loss, or misplaced inventory, resulting in achieving sales goals and increased ROI.

    Enhanced Communication

    With the help of the consignment inventory management software, you can schedule emails and text messages, maintain real-time communication with your consignors and customers, and keep them updated.

    Easy Access To Information

    Using a consignment sale software, you have easy access to the information about the consignors, customers, incoming & outgoing payments allowing you to monitor your business consistently and take proactive actions when required.

    Managing Prices and Discounts

    The consignment software enables you to manage prices and discounts offered on products you are reselling. This helps in ensuring that you don't resell any product below its predetermined limit.

    Ensures Financial Stability

    As the consignment software allows you to save time, enhance accuracy, and improve productivity, it obviously leads to increased profitability, ultimately ensuring your business organization's financial stability.

  • Which Type of Consignment Software Should I Choose?

    If you are planning to select on-premise software, you need to ensure that you have the required infrastructure and technical support within your premises to manage, maintain, and update the software. But, if you don't have these facilities, we would suggest you go for a cloud-based consignment software as you will just need a computer and internet connection; you don't need to install or download anything. There are Consignment solutions that you can download and work too. Few are free, few are premium ones. The free and open source consignment software is ideal for startups and for those who wish to try the software.

  • What Are The Factors To Be Considered While Selecting a Consignment Software?

    User-Friendly - The consignment software you select should be easy to use and deploy.

    Customer Reviews - Ensure there are positive customer reviews posted about the consignment software you have selected.

    Maintenance & Support - Make sure the maintenance and support provided by the consignment software vendor you have selected is prompt and excellent.

    Business Compatibility - Ensure that the consignment software you select delivers the functionality as per your business strategies and needs.

    Integrations - The consignment software you choose should integrate with other tools already in use in your business organization.

    If you have any more questions besides those answered above, please feel free to contact us.