In today’s multi-channel retail environment managing orders is complex, but at the same time the most vital process an online retailer has to manage.
You may have/offer the best inventory in the world- and that inventory may be selling at an excellent price point- but it’s unlikely your customers will get annoyed if you can’t execute those orders in a timely fashion.
Traditionally, online retailers used to manage their orders and inventory using spreadsheets, which would help business owners see what products they have in-stock and what products they had to re-order, but this was a time-taking process and error prone too.
Today, the buzzword in the world of online retail business is “cloud-based order management software solution” that makes any retailers life easy by automating the online order management process. Order management tools in cloud allows online retailers to receive and manage orders coming from online and offline channels, all within a centralized system. In many cases, these tools offers extension to easily integrate your existing payment process and even shipping partners to completely automate the fulfillment process.
Five key reasons why order management system is proving to be a staple for online retailers:
Order management cycle is streamlined
Online order management system can reduce the demands of fulfillment process by 98 percentage. Order that are captured from multiple sources can be easily integrated and managed from a centralized system. Product gets deducted from inventory roasters across multiple channels, shipping labels get printed, credit card gets charged and much more, all managed from the tip of your figure. This way you avoid the hassle of manual entry and eliminate costly errors, in turn streamlines the entire order management cycle.
Allows real-time updates
Any and every online retailer has to immediately know what products goes out and what products comes in, in order to avoid consumers frustration when they are told that the product they have ordered is no longer in stock. An effective order management software syncs your inventory so that your inventory levels automatically updates across all channel accounts when a sale is made. With an ability to offer inventory and other back-end process updates in real-time, makes an order management system staple for online retailers.
Shipping made easy, quick and cost-effective
Every online business has a specific turnaround time for delivery which is given to their customers at the time of placing the order. But, it becomes a real nightmare when you are unable to ship and deliver products to customers within the timeframe as promised. Shoppers will not like waiting for weeks to receive their order, in turn they become return customers. Implementing an order management system solution like Orderhive will help retailers to overcome shipping challenges. Many of the most popular order management software solution like Orderhive allows easy integration with leading shipping carrier- FedEx, integration allows creation of shipping labels. Orderhive is also integrated with leading shipping software- Aftership, which allows shipment tracking in real-time.
Enhance customer relationships
Online retailers implementing an order management system with built-in customer management tools can easily track orders, order history, contact informations, notes of their high-end customers, which can be pulled immediately when needed. This information can be shared with your staff. So, when a customer needs assistance, your staff can rely on such informations and attend customers concerns effectively.
Better informed decision through analytics
An order management system will track every step of your business operations, allowing users with valuable analytics and statistics. This information can be available anytime which is mostly used to forecast future sales and other important decisions. Relying on data manually entered by you on the spreadsheets can lead to making wrong decisions. Ultimately, more and more retailers are now implementing an order management system, to make better informed decisions through analytics based on fact, rather than intuitions.