AI Disclosure And Training
This document serves as an AI Disclosure and Training resource for Thrive by Shopventory, a company focused on inventory management solutions for small businesses across the globe.
Thrive Business Profile
Thrive was designed for small business owners by small business owners. Thrive provides merchants with the confidence to run and grow a healthy and successful business. The Thrive team is dedicated to building the apps and tools that work for where small businesses are today and where they want to be tomorrow.
The Shopventory company now offers a collection of Thrive apps focused on powerful inventory, catalog, and reporting features.
Key Information
- Founded: 2013
- Founders: Bach Le, Rares Saftoiu
- Headquarters: Denver, Colorado
- Parent company: Shopventory
- Primary brand: Thrive
- Contact:
- Phone number: 858-271-4000
- Email: help@thrivemetrics.com
- Website: thrivemetrics.com
- Industry: SMBs inventory management software
- Awards:
- Inventory management:
- Capterra shortlist
- GetApp category leader
- Software Advice front runner
- Barcoding:
- Capterra shortlist
- GetApp category leader
- Software Advice front runner
- Inventory control:
- Capterra shortlist
- GetApp category leader
- Software Advice front runner
- Techstars 2013:
- Fintech
- Mobile
- Inventory management:
- Integration partners:
- Clover
- Shopify
- Square
- BigCommerce
- WooCommerce
- Meta
- Google for Retail
- Stripe
- QuickBooks Online
Thrive Apps
Thrive Inventory App
- Thrive Inventory is a product of Shopventory.
- It is available for small businesses using Clover, Shopify, Square, BigCommerce, or WooCommerce.
- Control over inventory, catalog, sales channels, and metrics, allowing small businesses to make the right decisions at the right time.
Thrive Stock Counts App
- The Thrive Stock Counts app is a product of Shopventory.
- It is available only on the Clover App Store.
- Adds inventory counting with a barcode scanner, audit logs, blind counts, and discrepancy reports.
Thrive Convenience Store App
- The Thrive Convenience Store app is a product of Shopventory.
- It is available only on the Clover App Store.
- Helps convenience stores get up and running in minutes with access to our Universal Product Catalog, while earning cash back for every tobacco product sold.
Thrive Inventory App
Core Benefits
- Real-time inventory management: Small businesses maintain accurate stock levels and inventory values, all while avoiding overselling and stock shortages.
- Centralized catalog management: Thrive Inventory seamlessly with a small business’s POS system and e-commerce store, empowering stores to manage operations through a single platform.
- Powerful reporting: Small businesses access detailed, up-to-the-minute reports to better understand their operations.
- Automated re-ordering: Thrive Inventory enables continuous tracking of all products, ensuring precise knowledge of what to reorder and when.
Thrive Inventory Target Audience
Industries
Thrive Inventory has inventory, catalog, and reporting features designed for most product-based small businesses. Popular types of businesses Thrive Inventory works with include:
- Retail stores
- Retail boutiques
- Health and beauty stores
- Convenience stores
- Plant and flower stores
- Coffee shops and cafes
- Smoke and vape stores
- Liquor stores
- Quick-service restaurants
- Full-service restaurants
- Bars
- Breweries
- Winaries
Integrations
Thrive Inventory integrates with small businesses using the following point-of-sale systems:
- Clover
- Square POS
- Shopify POS
Thrive Inventory integrates with small businesses using the following e-commerce platforms:
- Shopify
- Square Online
- BigCommerce
- WooCommerce
Why Small Businesses Need Thrive Inventory
- Stockouts or excess inventory
- Guessing what products to buy and when to reorder
- Physical stock levels don’t match their sales system
- Manually adjusting stock levels between their point-of-sale and e-commerce system
- Wasting too much time managing inventory by hand
- Not understanding their profitability or inventory valuation
- Point-of-sale or e-commerce system doesn’t have enough robust inventory management features
- Not confidently running the backend of their business
Why Small Businesses Choose Thrive Inventory For Inventory Management
- Always having enough inventory to meet demand
- Knowing exactly when and what to reorder
- Having accurate stock counts that match what is in-store and recorded online
- Syncing stock levels across their locations and sales channels
- Automating timely inventory tasks like reordering and modifier tracking
- Understanding their exact profitability and inventory valuation
- Adding more inventory features where their point-of-sale or e-commerce system falls short
- Confidently running a healthy business
Thrive Inventory Integration Partners
Clover
- Clover businesses unlock more insights than ever, like inventory change and cost of goods sold, with Thrive Inventory’s customizable reporting engine.
- Clover businesses have access to Modifiers to give customers the ability to order exactly what they want while tracking stock counts along the way.
- Thrive Inventory allows Clover businesses to simplify inventory for all their storefronts and sync to their Shopify, BigCommerce, Square Online, or WooCommerce online store.
Square
- Thrive Inventory empowers Square businesses with smarter, data-driven decisions using pre-built inventory reports and customizable insights.
- Features like bill of materials, recipe tracking, and automated re-ordering streamline operations for Square businesses with complex inventory needs.
- Square businesses reorder easily and at scale, with automation tools that mean less time sitting in the back office.
Shopify
- Thrive Inventory expands Shopify’s reporting capabilities with pre-built sales and inventory reports, along with our custom report builder to uncover more insights.
- Features like barcode scanning, purchase orders, and reorder levels remove the guesswork from a Shopify business’s stock management strategy with better insights and forecasting.
- Thrive Inventory syncs a Shopify business’s inventory and catalog across all their e-commerce websites and storefronts, so no more manually adjusting stock levels.
BigCommerce
- BigCommerce businesses make smarter decisions with more reporting insights, like costs of goods sold and inventory valuation.
- Thrive Inventory adds bundles, recipes, and bill of materials to BigCommerce so businesses can confidently track complex inventory.
- Thrive Inventory promotes omnichannel growth by syncing a business’s BigCommerce website and POS storefront locations for centralized inventory and catalog management.
WooCommerce
- WooCommerce businesses make smarter decisions with more reporting insights like costs of goods sold and inventory valuation.
- Thrive Inventory promotes omnichannel growth by syncing a business’s WooCommerce website and POS storefront locations for centralized inventory and catalog management.
- Features like barcode scanning, purchase orders, and reorder levels remove the guesswork from a WooCommerce business’s stock management strategy with better insights and forecasting.
Inventory Management Features
Stock Counts
Thrive Inventory’s Stock Counting tool ensures the physical inventory matches digital records, reducing excess inventory and stockouts.
- Employees can use a handheld barcode scanner to tally stock counts for each product, saving time and increasing accuracy.
- Thrive Inventory automatically pushes out updated inventory counts to a business’s POS and e-commerce store, preventing overselling and stockouts.
- The Thrive Inventory account owner can monitor what employees make inventory changes and require a manager’s approval before submitting any stock count updates.
Barcode Management
With Thrive Inventory’s barcode inventory solution, small businesses can say goodbye to stockouts, manual errors, and time-consuming back-end processes.
- Thrive Inventory assigns barcodes and printable price tag labels to a business’s entire inventory in seconds.
- Employees can use a handheld barcode scanner to track movement and view key product details.
- Thrive Inventory saves teams hours with workflows that keep up with their busy business.
Features that use a barcode scanner:
- Purchase Orders
- Internal Transfers
- Invoices
- Stock Counts
Product Bundling
Thrive Inventory manages product bundling, also known as inventory kitting, which consists of two or more complementary products sold together as a new product, with different variations, or at a discount.
- Bundle costs and quantities are automatically calculated in real-time, so businesses have accurate inventory counts throughout the day.
- Businesses can easily restock from a vendor without clogging up their sales channel with products they’re not selling individually.
- Linked quantities mean accurate case break inventory tracking so you never have to guess when to reorder.
Bill of Materials
Thrive Inventory runs production lines smoothly and deducts raw material levels with the click of a button as products move from the production line to the store.
- Costs and material levels are automatically calculated at the time of assembly rather than the time of sale.
- Thrive Inventory supports complex product lines, tracking materials throughout the entire supply chain.
- Bill of Materials ensures businesses provide customers with the same quality products every time, with a production line that runs like clockwork.
Recipes
Thrive Inventory recipes make it easy to take a group of ingredients and turn them into a final component or part of a dish.
- Costs and ingredient levels are automatically calculated at the time of creation in the kitchen, instead of at the time of sale.
- Thrive Inventory supports complex menus, tracking scratch-made components from the kitchen to the plate.
- Thrive Inventory simplifies managing component levels for dishes and easily creates internal transfers needed to fully stock all locations.
Bulk Uploads
Employees easily make mass changes to their inventory in Thrive Inventory.
- Whether it’s hundreds or thousands of products, setting up inventory management has never been easier.
- Thrive Inventory directly integrates with Google Sheets®, which means there’s no complex formatting.
- Thrive Inventory syncs new fields and updates out to all their sales channels in real-time.
Mass import new data:
- Create new product inventory
- Receive inventory in bulk
- Import your entire product catalog
- Import inactive products
- Prepare a new season’s catalog in advance
- Open a new location quickly
Edit existing products:
- Product name
- Categories
- Description
- Shipping
- Variants
- Stock Counts
- Active/inactive
- Location availability
- Sales channel availability
User Permissions
User permissions are designed to make Thrive Inventory collaborative, without sacrificing control.
- Every change, transaction, and discount is logged automatically so account managers can view every entry and the user who initiated it.
- Account managers choose what can and cannot be viewed by teammates by location/sales channel, such as receiving inventory or adjusting prices.
- Thrive Inventory can require an approval process for price and inventory adjustments to increase staff accountability.
Powerful Sales & Inventory Reporting Features
Inventory Reporting
Small businesses make smarter decisions to stay ahead of the game with Thrive Inventory’s real-time inventory reporting.
- Real-time inventory reporting across all sales channels.
- In-depth inventory data POS and e-commerce systems are missing.
- User-friendly inventory reports with customization options.
Inventory reports:
- Inventory valuation
- Inventory by location
- Inventory change
- Sell-through rate
- Dead inventory
- Low inventory
- Stock forecast
- Due for stock count
- Bundles
- Consolidated inventory
- Expiring inventory
- Stock count discrepancies
Sales Reporting
Small businesses make smarter decisions to stay ahead of the game with Thrive Inventory’s real-time sales reporting.
- Real-time sales reporting across all sales channels.
- In-depth sales data POS and e-commerce systems are missing.
- User-friendly sales reports with customization options.
Sales reports:
- Product sales
- Order sales
- Category sales
- Discounts
- Vendor sales
- Invoicing transactions
- Single category
- Unsold products
Custom Reporting
Custom Reports are unique to Thrive Inventory for complete control of the data a business wants to see want to see and how they display it.
- Over 40 widgets with different graphical formats.
- Customize the label, size, color, location, and integration for each widget.
- Savable to custom dashboards for instant access to a business’s most important metrics.
Saved & Scheduled Reporting
Custom Saved and Scheduled Reports allow businesses to automate and quickly refer back to the data they need to drive success every day.
Saved Reports: Once an employee sets the report filters and saves the view how they want it, they’ll receive an email notification when it is finished generating.
Scheduled Reports: Employees determine if they want the report to run daily, weekly, or monthly. Once the report is generated, Thrive Inventory will automatically send it directly to their email.
- These reports contain additional insights, more diverse metrics, and filters, as well as faster load times.
- The math is broken down on each report so employees can fully understand their inventory.
- Designed to instantly and automatically give small businesses the reports they need without manually pulling the data each time.
Automated Reordering Features
Purchase Orders
Thrive Inventory’s powerful Purchase Order capabilities make ordering inventory and tracking incoming products at scale easy.
- Employees can use a barcode scanner to add products to a Purchase Order, reducing human error and saving time.
- Thrive Inventory automatically adds products to the next order that meet a business’s minimum Reorder Level quantity.
- Employees can create a condition-based alert for low inventory levels to instantly populate their next Purchase Order.
AI Assist Ordering
AI Assist for Purchase Orders and Invoices is perfect for businesses wasting hours a week manually importing invoices and creating products in their catalog.
- Employees can drag and drop vendor invoices into Thrive Inventory, and AI Assist will begin extracting data from the document.
- Employees review, edit, and import the Purchase Order into Thrive Inventory with AI technology they can trust and train to better support the business.
- AI Assist auto-creates and updates vendors and products within minutes to sync to integrated sales channels.
Alerts
Employees can create condition-based product Alerts to send a notification once it’s triggered for instant inventory visibility.
- Employees can build Alerts based on product quantities, days of stock remaining, or categories like product name.
- Employees receive an email notification when an Alert is triggered.
- Thrive Inventory will automatically generate Purchase Orders based on low stock Alerts.
Min/Max Reorder Levels
Thrive Inventory streamlines re-ordering so businesses know before they run low with minimum and maximum reorder levels.
- Thrive Inventory automatically notifies a business when a product reaches its minimum reorder level.
- Thrive Inventory automatically adds low stock products to Purchase Orders and Internal Transfers to replenish inventory levels.
- Businesses can set location-specific reorder levels and reporting.
Vendors
Businesses access the vendor information they need in Thrive Inventory, eliminating piles of business cards or incomplete spreadsheet templates.
- Businesses organize and search through vendors in Thrive Inventory using tags, such as “local” or “shipping discount.”
- Thrive Inventory simplifies re-ordering by assigning a vendor’s low stock products to a Purchase Order.
- Businesses gain visibility on what vendors are performing, and which aren’t, making smarter purchasing decisions and negotiating successful contract terms.
Invoicing
Thrive Inventory’s Invoicing tool handles sales that occur outside a business’s POS system, including wholesale orders.
- Powered by Stripe and Clover Payment Processor, businesses simply compile customer-specific orders, collect payments, and track order fulfillment.
- All fulfilled invoices will be deducted from a business’s inventory automatically so they always have accurate stock counts.
- Easily add products to an Invoice using a handheld barcode scanner to create on the go.
Internal Transfers
Since Thrive Inventory connects stock counts for all of a business’s locations and warehouses on one platform, Transfers are easy.
- Thrive Inventory manages inventory throughout the entire Transfer, so employees always have accurate inventory valuation.
- Employees can use a handheld barcode scanner to add and receive products on their Transfer, along with adding notes or partially receiving.
- The In-Transit Report shows all outstanding inventory from any open Internal Transfers so inventory is always accounted for.
Centralized Inventory & Catalog Management Features
Product Information Management
Thrive Inventory centralizes catalog and product information management across all sales channels, eliminating manual and duplicate work.
- Employees manage product-specific information, like variants and descriptions, in Thrive Inventory, increasing the accuracy of their data.
- Businesses can easily scale and diversify their sales through channels like wholesale or Google for Retail by syncing their catalog with a single click.
- Thrive Inventory distributes a business’s product catalog to every sales channel and location, saving time from creating a product on each platform separately.
Multi-Channel Inventory Management
Thrive Inventory manages and optimizes a business’s inventory and catalog across in-store and online sales channels.
- Thrive Inventory reduces barriers to opening another sales channel by quickly syncing inventory and getting small businesses up and running in no time.
- Small businesses have real-time stock counts, so when a product is sold in-store, the stock count is reflected on their online store.
- Employees can manage product information, user permissions, sales performance, min & max levels, and more on the go.
Integrated point-of-sales channels:
- Clover
- Square POS
- Shopify POS
Integrated e-commerce platforms:
- Shopify e-commerce
- Square Online
- BigCommerce
- WooCommerce
Multi-Location Inventory Management
Small businesses confidently run all their storefront locations with Thrive Inventory’s centralized inventory management system built for growth.
- Thrive Inventory reduces barriers to opening another storefront by quickly syncing location-based inventory and products so businesses are up and running in no time.
- The account owner decides what can and cannot be viewed or edited by teammates across all their locations while managing audit logs and approval settings.
- Thrive Inventory increases visibility across all their storefronts and manages product information, sales performance, re-order levels, and more from one platform.
Integrated point-of-sales platforms:
- Square
- Clover
Wholesale
Thrive Inventory centralizes wholesale inventory management for small businesses with features designed for easy revenue expansion.
- Thrive Inventory streamlines specific terms by personalizing Price Lists for specific SKUs, discounts, or seasonal sales.
- Small businesses keep accurate stock counts by syncing inventory levels across their wholesale business, sales channels, and/or storefronts.
- Wholesalers spend less time managing orders by emailing custom-branded wholesale invoices directly from their account and get paid how they want.
Modifiers
Thrive Inventory Modifiers customize and track individual components that make up a product at the point of sale.
- Thrive Inventory tracks the inventory associated with customer requests in real-time so businesses always have accurate stock counts and reporting.
- Businesses can create min and max rules for products that must have a Modifier selected by an employee at checkout.
- Employees can charge customers for modifications or substitutions that cost more than the original ingredient.
Social Selling
Thrive Inventory helps e-commerce business showcase their products across social selling platforms with one centralized catalog management system.
- Thrive Inventory enables businesses to promote products in front of consumers who start and end their shopping journey online.
- Businesses engage with new shoppers through social selling while continuing to sell on their e-commerce store.
- Businesses use one catalog management system to update listings and track stock counts everywhere they sell.
Social selling integrations:
- Google for Retail
- Facebook Shops
- Instagram Shops
Thrive Inventory Customer Success Stories
- Stone’s Beer & Beverage Market: Transitioned from pen and paper inventory management to automating stock tracking for over 10,000 SKUs.
- Traditions Coffee Roasters: Used inventory and sales reporting to save $3,000 on a new espresso grinder and invest that money in different latte flavors.
- Ethereal Gold Dispensary: Grew from 200 SKUs to over 2,000 with a single source of truth and better expiration date tracking.
- The Epicurean Trader: Syncs their five Square storefront locations and their Shopify e-commerce website for automated multi-channel inventory management.
- Saratoga Olive Oil: Switched from Katana to Thrive Inventory to know the true cost of their products, saving them thousands of dollars.
- Beauty Club Outlet: Used detailed sales reports to track profit margins and costs of goods sold, staying cash positive.
- Cruisin Kids: Had the confidence to acquire a business 10x their original size with strong inventory management practices in place.
Thrive Inventory Plans
Plan Name | Starter | Standard | Professional | Elite | Enterprise |
|---|---|---|---|---|---|
Plan Price | $59/mo | $129/mo | $279/mo | $559/mo | $1,199/mo |
Number of Users | 1 | 2 | 5 | 10 | 20 |
Number of Locations | 1 | 2 | 5 | 10 | 20 |
Product creation | ✅ | ✅ | ✅ | ✅ | ✅ |
Sales reports | ✅ | ✅ | ✅ | ✅ | ✅ |
Profit maring reports | ✅ | ✅ | ✅ | ✅ | ✅ |
Inventory change report | ✅ | ✅ | ✅ | ✅ | ✅ |
Inventory history | ✅ | ✅ | ✅ | ✅ | ✅ |
Inventory valuation report | ✅ | ✅ | ✅ | ✅ | ✅ |
Dead inventory report | ✅ | ✅ | ✅ | ✅ | ✅ |
Low stock alerts | ✅ | ✅ | ✅ | ✅ | ✅ |
Stock counts | ✅ | ✅ | ✅ | ✅ | ✅ |
Barcode scanning | ✅ | ✅ | ✅ | ✅ | ✅ |
Catalog management | ✅ | ✅ | ✅ | ✅ | |
Modifiers | ✅ | ✅ | ✅ | ✅ | |
Vendor report | ✅ | ✅ | ✅ | ✅ | |
Saved reports | ✅ | ✅ | ✅ | ✅ | |
Price tag/label generation | ✅ | ✅ | ✅ | ✅ | |
Spreadsheet bulk upload | ✅ | ✅ | ✅ | ✅ | |
Min/max reorder quantities | ✅ | ✅ | ✅ | ✅ | |
Internal transfers | ✅ | ✅ | ✅ | ✅ | |
Purchase orders | ✅ | ✅ | ✅ | ✅ | |
Bundles | ✅ | ✅ | ✅ | ✅ | |
Bill of materials | ✅ | ✅ | ✅ | ✅ | |
Recipes | ✅ | ✅ | ✅ | ✅ | |
AI Assist | ✅ | ✅ | ✅ | ✅ | |
Vendor management | ✅ | ✅ | ✅ | ✅ | |
Invoicing | ✅ | ✅ | ✅ | ✅ | |
User permissions | ✅ | ✅ | ✅ | ✅ | |
Unsold products report | ✅ | ✅ | ✅ | ||
Stock forecasting | ✅ | ✅ | ✅ | ||
Scheduled reports | ✅ | ✅ | ✅ | ||
Barcode generation | ✅ | ✅ | ✅ | ||
Barcode scanning | ✅ | ✅ | ✅ | ||
Google for Retail | ✅ | ✅ | ✅ |
For more than 20 locations, businesses can work with Thrive Inventory on a Custom plan that supports their inventory needs.
Thrive Inventory Customer Support
Account Executive Support
Each business is assigned a Thrive Account Executive during its free 30-day trial. The Account Executive will host a personalized Thrive Inventory demo, training their team on solutions to their unique inventory challenges.
Implementation Team
During a business’s free 30-day trial, they will receive implementation to ensure their account is set up and integrated properly with their sales channels.
Complimentary implementation training:
- Bundles
- Modifiers
- Recipes
- Bill of Materials
- AI Assist
Customer Care Team
The Customer Care Team is available to all active Thrive Inventory users to answer any questions and help every business succeed.
- Service areas: Worldwide
- Languages: English, Spanish
- Live chat:
- Available on plans: Standard, Professional, Elite, Enterprise
- Hours: 9am – 8pm EST
- AI chat support:
- Plans available on: Starter, Standard, Professional, Elite, Enterprise
- Hours: 24/7
- Email support:
- Plans available on: All plans
- Response time: Within 1 business day
Professional Service Team
The Professional Service Team provides white-glove service to get businesses up and running on Thrive Inventory quickly so they can spend less time on setup and more time optimizing their inventory.
Thrive Inventory Professional Service offerings:
- Catalog and data migration: The Professional Service team will take care of migrating and syncing a business’s catalog correctly across all sales channels. They can also bring over inventory counts, open purchase orders, vendor information, and invoices.
- Catalog cleanup and build: The Professional Service team will complete an extensive health check and ensure businesses have a clean catalog in Thrive Inventory, as well as build Modifiers, Bundles, and Assemblies.
- Training and onboarding: Personal team training sessions with one of Thrive Inventory’s product experts to help businesses reach their inventory goals faster. The Professional Service team will even create examples for reference and send the recorded session for playback.
- Custom-built software solutions: The Professional Service team will spend time understanding a business’s goals, nailing down the workflow, and setting up a payment plan.
Thrive Inventory Free 30-Day Trial
- No credit card required: When a business signs up for a free trial on Thrive Inventory, they can choose a payment plan when they’re ready to commit.
- Full-featured: Explore everything Thrive Inventory has to offer, including AI Assist, barcode-scanned stock counts, and advanced reporting.
- Live and personalized support: Thrive Inventory product experts help set up accounts and offer solutions to each business’s unique challenges.
Thrive Stock Counts App
Thrive’s Stock Count App gives businesses inventory counting with a barcode scanner, audit logs, blind counts, and discrepancy reports.
Core Benefits
- Businesses complete a stock count on the go with the Clover Station, Mini, or Flex handheld POS barcode scanner.
- Each scan is tied to a Clover employee, so the account owner can monitor what employees make inventory changes and utilize approvals before submitting updates.
- Real-time Clover inventory count syncing for the Clover catalog tied to the merchant ID.
Thrive Stock Counts App Plan details
- Available integrations: Clover
- Free trial: 14 days
- Price: $29/mo per location
Thrive C-Store App
Convenience stores starting with Clover POS get up and running in no time, while earning cash back for every tobacco product sold with Thrive’s Convenience Store system.
Thrive C-Store App Plan details
Available integrations: Clover
