The ways of business today are not the same anymore. As per Adobe, total online spending in May hit $82.5 billion. By April, the industry saw 10 years’ worth of growth in only 3 short months. Strained supply chains and increased demand forced organizations to reevaluate their operations. In other words, for many companies, tracking, executing, and managing relationships between product orders, fulfillment, and service appointments are a disjointed set of operations. These complex processes are typically managed after the sale and require several manual processes that may lead to missed revenue generation opportunities and poor customer satisfaction. So what’s the fix? Answer: Order Management Software
An order management software’s job is to make the fulfillment process as streamline, cost-effective, and automated as possible. It optimizes these steps to reduce shipping and overhead costs, increase data quality, and pick and pack in the most efficient way possible. Many order management systems also have functions that streamline returns management and credit card processing. However, the key is to choose the one that integrates with the leading eCommerce tools and platforms to adapt to the way you do business.
In this post, we will discuss how an order management system can help you spike productivity, ROI, and customer experience – all while reducing costs.
7 Key reasons to embrace order management software
1. Faster delivery and improved customer experience
In a world where one-day delivery, leave alone shipping – has become the norm, you need to find ways to push out orders faster with no scope for errors or delays. In addition, fulfillment windows are also shrinking today. This is where an order management system can help you by taking away manual work with its automated functions.
To be precise, this is how an order management system can help you:
- When a customer places an order, an order management system quickly chooses the closest warehouse or fulfillment location
- Post this, it uses the order details/history to take care of fulfillment needs
- That is, it will send an automated fulfillment request to the respective warehouse so that its staff can prepare the order and parcel it as quickly and cost-effectively as possible.
Remember, Faster Delivery = Happy Customers = Improved Bottom Line
2. Eliminates manual processes with less room for errors
Manual work is no match to the speed and efficiency of an order management system. Because it provides automation wherever possible – from calculating shipping costs to sending fulfillment requests. Most importantly, it cuts down on human errors that arise from manual work and processes. Also, it can perform multichannel inventory management and warehouse optimization by sending you alerts on the stock levels so that you can take corrective measures. Thus, helping you prevent shipping delays, increased marketplace fees, and most crucial of all – losing your customers’ trust.
As a bonus, an order management system also enables fast and direct communication between multiple warehouses at the same time about which inventory to pick and pack. Thus, helping you prevent delays and misplaced orders.
3. Integrates across company systems
One of the best functions of order management software is its ability to integrate across company infrastructure, service providers, and supply chain technology. And most of the order management systems will integrate with your accounting system, inventory manager, warehouses, customer service departments, and more, thereby simplifying the entire process for you. This integration feature will ensure that your order management process is as seamless and automated as possible.
5. Reports and forecasts stock needs
Did you know? Order management systems can predict how much safety stock you’ll need to avoid over-ordering, or worse, overselling. This feature is extremely useful in times of sudden increase or fluctuations in demands. Also, an order management system that integrates your inventory channels can support a merchant-fulfilled strategy. Thereby, giving you more freedom and control over order management operations.
6. Ensures more scalability
An order management software is specially designed to keep pace with the company and scale as your company grows. And unlike legacy systems or manual work ways – an increase in omnichannel fulfillment needs will not impact a well-implemented order management system.
7. Works on every channel – offering greater multi-channel opportunities
Order management software can fulfill customer needs across all your eCommerce platforms and sales channels. As your business grows, so does the complexity that comes with managing your orders. Because each channel has its own logins and processes – if you don’t find a way to integrate the sales orders and data into one interface, sooner or later – your staff may face burnout, with a lot of room for deadly errors. Fortunately, order management software will drastically cut down the time your staff spends fulfilling orders and training new staff. It will also give you a bird’s eye view of orders and data, and reduce errors by gathering all the data you need in one accessible place.
Not just that, these systems can even centralize and track data, manage inventory turnover ratio, and order routing across channels.
Gone are the days of managing customer orders through individual channels and communicating across departments in a scattershot fashion. As businesses embrace multichannel retail, order management systems have become essential. It’s the best method for providing a fast, personalized, and error-free order fulfillment experience that today’s customers expect. And the good news is today’s order management solutions are designed to provide unmatched customer satisfaction in each of these areas. So, all you have to do is select the one that best aligns with your business needs and get going!