E-commerce Order Management System-Key Benefits

Retail e-commerce is expected to surpass $8 trillion by 2025. As the preference for shopping online continues to witness a rapid rise, and e-commerce continues to boom, e-commerce businesses realize that meeting, or better still exceeding customer’s expectations when it comes to fulfilment and shipping time is a vital tool for gaining competitive advantage in a fiercely competitive marketplace. 

There is no denying the fact that receiving, tracking, and fulfilling customer orders consumes a lot of time, and is also prone to errors.  This leads to loss of both time, goodwill and money.  Implementing an order management system (OMS) can help carry out smooth e-commerce operations, as it can streamline processes by automating many back-office tasks. OMS performs a lot of important tasks such as helping customers choose the right products, and businesses keep a tab on orders, marketing, inventory, reverse logistics, and more.

What is order management?  

Order management is the key element for streamlined e-commerce operations. It is a process that is set into motion immediately after an order is placed. The entire consists of a number of steps ranging from placing order to locating and picking the item, and then packaging, shipping and delivering it to the intended recipient. 

 In other words, an Order Management System (OMS) is software that helps you manage and automate your entire order fulfillment process. It is important that order management software is as efficient as possible, because it covers the entire order-to-cash lifecycle starting from logging orders to invoice management.  A streamlined order management process helps you win more customers and augments your overall profitability and sales. A top-of-the-line ecommerce software development company will help you remain competitive in the highly lucrative but crowded online marketplace 

What purpose does OMS serve for your ecommerce business?

Online shopping has grown big. The availability of smartphones and fast internet has made it extremely easy for people to shop from the comforts of their home. The demand for online shipping is growing at a rapid pace, which means more and more organizations are selling online. The competition is really tough, which means you can stand out from the crowd only if you offer a personalized and consistent shopping experience to them every time they decide to shop from your site. 

If they had next-day delivery on their first order with you, then in all probability they will expect the same level of service with their next order. 

However, as your ecommerce site grows, your systems will get tested. If your inventory is low, you need to replenish the items as soon as possible to ensure that your customer is not left waiting.  

Inept processes can leave much to be desired from your service, resulting in disgruntled customers, and sells loss. 

Modern ecommerce companies need an efficient order management system for seamless scalability.  An OMS automates processes, which means your team, free from carrying out repetitive manual tasks, can concentrate on the bigger picture, involving complex customer problems, and devising strategies for sustainable growth.

What processes can OMS help automate?

Order Management Systems can help at every juncture of your product fulfillment journey.

Here are some of the key areas where OMS can render invaluable help.

• It can help you handle orders from different channels, including your own online store, marketplaces, and bulk orders.
• Offer real-time data on product availability and inventory levels
• Keep accurate track of the status of a customer order
• Synchronizing customer order data with your CRM software
• Helps in financial forecasting by working with your accounting tools. 

Primary benefits of an Order Management System

Implementing an OMS will offer many benefits to your business, allowing you to stay ahead of competition. Some of the important benefits of an OMS are as following; 

Automate manual processes for faster growth

One of the most important benefits of an OMS is automation of routine but important tasks such as processing orders, fulfillment, operations, updating inventory levels, and managing returns. The time saved can be put to more productive uses. It provides valuable data which can be utilized to improve your overall operations for enhanced profitability and customer satisfaction. 

Gaining understandings of best-selling inventory

Another key benefit of using an OMS is that it provides better insights into your most popular products, which can be hard to track if you are selling on multiple platforms.

Keep inventory costs low 

One of the benefits of implementing an OMS is that it helps in efficient inventory management by simplifying processes with automation. You are also provided information about products which helps in selection of the best place to store inventory. 

Conclusion

An Order Management System can help you automate monotonous and repetitive, but business-critical tasks, which makes sure that you are always at the top of your game.  A quality software development company can help you manage and automate your ecommerce store order fulfillment process, thus helping generate better ROI.