Compare pricing for top-rated inventory management software products with the highest value-for-money and functionality ratings.
We hear from software buyers time and again that price and functionality are two of their top considerations when investing in inventory management software. Budget is a constraint for most businesses, but affordability alone doesn't make a product valuable—it must also offer the required functionality.
Inventory management software helps organizations efficiently track, organize, and manage their inventory. It provides tools and features to oversee the entire inventory lifecycle—from procurement to sales—to optimize stock levels, reduce carrying costs, and improve overall efficiency. Inventory management software pricing can range from $19 to over $168 per month. Read the buyers guide to further understand the benefits of the software, considerations when buying the software, and more.
In this report, we've ranked the top inventory management software products based on user reviews: those with the highest ratings for both value for money and functionality. We've also included the starting price and functionality details for each product.
Inventory management software with the highest value-for-money and functionality ratings
The graph below shows inventory management tools that offer the best value for money and functionality according to user ratings. Products are arranged in increasing order of their value-for-money ratings (bottom to top) and functionality ratings (left to right).
Note: While products in the top-right zone of the graph rank higher in terms of both functionality and value-for-money ratings, all products in this graph are top rated.
Price comparison for top-rated inventory management software
The cost of inventory management software may vary based on the number of users, features, or other factors, and comparing pricing for multiple products can be time-consuming.
We've created a table to highlight how different inventory management tools stack up against each other in terms of starting prices, free trials, and free versions—allowing you to compare these products side by side.
From the products mapped on the scatter plot above, only those with publicly available pricing information on vendor websites are listed in the price comparison table below. They are arranged in decreasing order of their combined ratings—value for money plus functionality.
Note: The pricing included in this table is for the entry-level/lowest-priced offering (discounted pricing not considered) found on vendor websites as of Aug. 1, 2023.
1. Order Time Inventory
Order Time Inventory is an inventory control and management platform that helps businesses maintain and manage their overall stock level. It provides tools and features to track inventory, manage stock movements, optimize reorder points, and handle purchase and sales orders.
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Starting price: $46.5 per user, per month (billed annually)
Features available at starting price: The starter plan covers the sales, purchasing, production, warehousing, and reporting functions. It allows users to manage multiple leads, customers, and vendors; create purchase orders; track work orders; monitor component usage; plan costing and scheduling; and track inventory transferring. It also lets them generate unlimited sales order reports to make informed decisions.
Cost to upgrade: The software offers only a single pricing plan with annual and monthly billing options. The monthly billing plan costs $50 per user, per month. Additional integrations, including ecommerce, shipping, and label printing, are available at an extra charge.
Features available in advanced versions: Only a single pricing plan is available.
2. Finale Inventory
Finale Inventory is a cloud-based inventory and warehouse management system that assists businesses in maintaining and monitoring their inventory level. It helps streamline inventory management processes and ensures optimum stock levels to meet customer demand while minimizing carrying costs and stockouts.
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Starting price: $83 per user, per month (billed annually)
Features available at starting price: The starter pack includes base product features such as quotes, invoices, returns management, serial number tracking, lot ID tracking, label printing, and product kitting and bundling. It also includes build management for light manufacturing and product assembly. It also supports multiple third-party integrations with accounting tools, point-of-sale (POS) tools, reporting tools, and online marketplaces.
Cost to upgrade: $200 per month for four users (billed annually)
Features available in advanced versions: Besides all features of the starter plan, advanced versions include custom reports, bundled access to QuickBooks Online, API access, and SPS Commerce EDI. Upgraded pricing plans also support more users, monthly orders, and virtual training sessions. They even offer advanced support options such as a dedicated account manager, priority service attention, and on-site visits.
3. WooPOS
WooPOS is an inventory management and POS system that allows businesses to track their inventory level and process transactions across multiple storefronts. It lets users move stock between stores or warehouses with stock transfers and perform inventory lookups across sales channels.
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Starting price: $179 per month for five users (billed monthly)
Features available at starting price: The starter plan allows users to add and track unlimited stores, transactions, products, and customers. It includes inventory management, multi-store operations management, CRM management, purchase management, employee management, POS, and reporting. It provides access to a customizable barcode designer to produce, design, and print mailing labels. It also enables the transfer of inventories across stores in real time.
Cost to upgrade: $289 per month for 10 users (billed monthly)
Features available in advanced versions: Advanced versions offer the same features as the starter plan but allow businesses to accommodate more user seats.
4. Trunk
Trunk is a web-based inventory management system that allows businesses to sync their inventory in real time across sales channels, including Amazon, eBay, Etsy, and Shopify. For example, if a user manually adjusts stock levels on Etsy, receives an order on Shopify, or refunds an order on eBay, the software automatically syncs the transaction and adjusts stock levels in real time in the master inventory.
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Starting price: $35 per month for up to 100 orders (billed monthly)
Features available at starting price: The starter plan includes real-time stock level syncing and low stock alerts. It lets businesses connect to unlimited sales channels and create a centralized inventory of product listings. Products that share the same SKU are automatically linked. The software also continually monitors the linked sales channels for any new, updated, or removed listings to update stocks in real time.
Cost to upgrade: $39 per month for up to 100 orders (billed monthly)
Features available in advanced versions: Upgrade plans support a higher number of monthly orders and provide product bundling and kitting capabilities. They also support duplicate SKU syncing, a feature that links one unique SKU per sales channel and automatically reports any other duplicate SKUs found in the system.
5. Megaventory
Megaventory is a web-based inventory management system that helps businesses track and optimize stock levels, monitor inventory movements, handle sales orders, manage vendors, and more. It also lets users get real-time stock alerts, check supplier availability, and track lead time.
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Starting price: $135 per month for five users (billed annually)
Features available at starting price: The starter plan supports 20 locations, 20k products, 20k clients, and 50k transactions. It allows businesses to manage and track inventory at multiple locations in real time. It enables integration with various eCommerce platforms to synchronize inventory and streamline the order fulfillment process. It also offers barcode scanning to simplify the process of updating inventory counts.
Cost to upgrade: Contact the vendor for upgrade plans
Features available in advanced versions: In addition to the starter plan’s features, advanced versions support any custom inventory management features that a business might need.
6. KORONA POS
KORONA is a cloud-based inventory management POS system that enables users to perform inventory counts directly from the POS system or via its mobile app. It allows users to set inventory reorder levels, automate counting, scan barcodes, and print shelf labels and price tags.
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Starting price: $59 per month for unlimited users (billed monthly)
Features available at starting price: The starter plan lets users work with any processor, track unlimited sales, maintain a centralized product database, access reporting capabilities and a customizable dashboard, manage an eCommerce store, run promotions, offer gift cards, and access APIs.
Cost to upgrade: $69 per month for unlimited users (billed monthly)
Features available in advanced versions: In addition to the base features, upgrade plans enable advanced inventory management and automation capabilities, including order automation, stock management, barcode automation, customer management, real-time inventory tracking, shipment tracking, product code scanning, and price and shelf label printing.
7. Limble
Limble is a computerized maintenance management system (CMMS) that helps businesses track spare parts inventory for maintenance work orders. It allows users to track inventory count and location. It also sends real-time push notifications when spare parts are low, new parts are ordered, work orders are received, etc.
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Starting price: $23 per user, per month (billed annually)
Features available at starting price: The starter plan includes a work request portal, unlimited recurring work orders with image attachments, work request history tracking, asset management, unlimited asset hierarchies, and asset warranty tracking. However, the “spare parts inventory management” module is available only in premium plans.
Cost to upgrade: $59 per user, per month (billed annually)
Features available in advanced versions: Advanced versions let businesses track unlimited spare parts, set the minimum/maximum inventory threshold for spare part quantity, scan QR codes, automate inventory cycle count, reorder parts in bulk, and transfer inventory between multiple locations. They also support unlimited vendors and purchase orders, custom dashboards, and multi-location inventory reporting.
8. Cubbo
Cubbo is a unified fulfillment platform that offers warehouse, pick-and-pack, and logistics services. Its inventory console tool allows users to access real-time information on their inventory, including its status (in stock, damaged, or returned). Users can also schedule stock-receiving appointments to bring their inventory items to Cubbo's fulfillment centers where they are stored and packed for delivery to customers.
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Starting price: $0.98* per piece for pick-and-pack service
Features available at starting price: Cubbo offers three services: pick and pack, storage, and shipment, and the features vary based on the selected service. However, common features include logistics management, inventory tracking, real-time inventory sync, a centralized stock dashboard, booking and stock identification via SKU and UPC, and eCommerce and online marketplace integration.
Cost to upgrade: Storage service starts at $23.9* per month, and shipment starts at $4* for same-day local delivery of up to 15Kg
Features available in advanced versions: Features will differ based on the selected service.
*Converted from MXN to USD on Aug. 28, 2023, using xe.com.
9. ERPAG
ERPAG is a cloud-based inventory software tool for manufacturing businesses. It helps streamline and optimize the inventory processes involved in selling and purchasing manufacturing equipment and parts.
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Starting price: $25 per user, per month (billed monthly)
Features available at starting price: The starter plan includes a centralized inventory platform to synchronize and update inventory in real time across eCommerce platforms. It also supports lot tracking, serial number tracking, lot label printing, barcoding and scanning, automatic inventory backordering, low inventory alerts, real-time inventory adjustments, and inventory transfer between warehouses.
Cost to upgrade: $25 extra for every additional user (billed monthly)
Features available in advanced versions: All plans offer the same features.
10. Timly
Timly is a cloud-based inventory software solution that enables businesses to manage their physical assets, such as devices, tools, machines, rooms, facilities, and vehicle fleets. It helps maintain a comprehensive record of assets, monitor their status, and track any changes or movements.
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Starting price: $182.41* per month for unlimited users (billed monthly)
Features available at starting price: The starter plan includes the digital inventory management feature and a check-in and check-out option for employees, places, rooms, etc. It offers document management to store and track asset files, such as purchase invoices, usage instructions, and test reports. It also supports deadline management to remind businesses of important deadlines related to asset compliance with insurance or regulatory policies.
Cost to upgrade: $471.75* per month for digital signature, GPS location tracking and more (billed monthly)
Features available in advanced versions: Inventory usage planning, GPS location tracking, consumable and stock items management, and performance and consumption data tracking are some additional features available in upgrade versions.
*Converted from GBP to USD on Aug. 28, 2023, using xe.com.
11. EZOfficeInventory
EZOfficeInventory is an asset tracking software tool that enables businesses to manage inventory and assets across their company. It helps track vendors, move inventory across locations, and customize low stock threshold alerts for optimized inventory management.
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- Free Version
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Starting price: $35 per month for unlimited users (billed annually)
Features available at starting price: The starter plan includes inventory tracking, inventory checkout and reservation, inventory availability calendar, QR codes and barcode labels, low-stock alerts, equipment depreciation, and reports on asset utilization, purchase orders, etc.
Cost to upgrade: $45 per month for unlimited users (billed annually)
Features available in advanced versions: RFID scanning, product bundles, transfer of stocks, purchase order management, contract management, inventory location audit, and custom reports are additional features offered in upgrade plans.
12. QuickBooks Desktop Enterprise
QuickBooks Desktop Enterprise is an accounting software tool with inventory control and management capabilities. It enables businesses to track inventory across warehouses, monitor costs for assembled products and inventory, and receive notifications when stock levels run low.
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Starting price: $117.5 per month for up to 30 users (billed annually)
Features available at starting price: The starter plan includes features such as inventory management and tracking, inventory counts, inventory transfer, automated inventory forecasting, serial number tracking, and lot number tracking.
Cost to upgrade: $187.5 per month for up to 30 users (billed annually)
Features available in advanced versions: Barcode scanning, material cost tracking, automating order management, and multi-level inventory categorization are some key features available in the advanced versions.
13. Tracmor
Tracmor is an inventory management tool that lets businesses track stock levels across locations. It allows users to record inventory details, monitor real-time product levels, create inventory audit reports, and track inventory shipments.
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- Free Version
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Starting price: $19 per month for five users (billed monthly)
Features available at starting price: The starter plan allows users to track up to 250 assets. It offers features such as inventory tracking via barcodes and QR codes, barcode scanning and printing support, inventory audit logs, inventory search (by location, inventory model number, category, manufacturer, etc.), inventory transfer across locations, and enhanced SSL security.
Cost to upgrade: $44.16 per month for unlimited users (billed annually)
Features available in advanced versions: Advanced versions offer the same features as the starter plan, but they support unlimited user seats and can track more assets.
14. Thrive by Shopventory
Thrive by Shopventory is an inventory management solution that helps businesses track product levels across sales channels. It allows users to generate purchase orders, create product bundles, and pull inventory and sales reports.
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Starting price: $79 per month for two users (billed annually)
Features available at starting price: The starter plan supports two locations, 3000 monthly transactions, three years of order history, and three years of reporting history. It offers features such as low-stock alerts, stocktakes and approvals, inventory kits/bundles, internal stock transfers, and location-specific stock tracking and reporting.
Cost to upgrade: $199 per month for five users (billed annually)
Features available in advanced versions: Advanced versions support up to 20 locations, 75,000 monthly transactions, and unlimited order and reporting history. Automated purchase orders, automated stock transfers, intelligent stock forecasting, inventory assemblies, and bills of materials are some additional features in upgrade plans.
15. UpKeep
UpKeep is a maintenance management system with inventory tracking capabilities. It allows businesses to create barcodes for maintenance equipment or spare parts, set minimum product thresholds, receive low-stock alerts, and generate inventory reports.
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- Free Version
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Starting price: $45 per user, per month (billed monthly)
Features available at starting price: The starter plan offers asset and inventory management, barcode scanning, location management, file uploads, drill-down reporting and history for 30 days, and push and email notifications.
Cost to upgrade: $75 per user, per month (billed monthly)
Features available in advanced versions: In addition to the starter plan’s features, advanced versions support workflow automation, multiple inventory lines, asset downtime and depreciation tracking, purchase order management, offline availability, and custom dashboards and reports.
Check out Capterra Shortlist for inventory management software to view the highest-rated and most popular products.
Inventory management software pricing models and related costs
Understand the common pricing models:
Perpetual license: You pay an upfront sum for license to own the inventory system and use it in perpetuity. This is the more traditional model and is most common with on-premise applications.
Subscription: You pay a monthly fee to use the software for a specific amount of time. Subscription-based pricing gained popularity, thanks to the increasing adoption of Software-as-a-Service (SaaS).
Open-source license: Open-source licenses are usually free of charge, which reduces your upfront investment. Implementation, integration, and ongoing maintenance, however, can be major expenses.
Watch out for these often overlooked costs:
Data migration: While this can be done in-house, you might want to pay the vendor to transfer your existing inventory data to the new system.
Training: Web-based training is often included in your plan, but vendors might charge for in-person training.
Hardware and IT: This could be a major expense for on-premise software buyers who need their own servers.
Maintenance and upgrades: Some vendors charge for updates, patches, upgrades, and other maintenance activities.