taxes
13 Dec

How You Can Save Money with the Section 179 Deduction

By Jim Cahill In Inventory Management, Order Management System /   No Comments
tax day
Courtesy Pixabay | stevepb

Do you like to save money? (Don’t we all?!) Have you heard about the Section 179 tax deduction? It’s still available, and it might just mean you can save a ton this year!

Read on to learn more about how you can make the Section 179 deduction work for you.

There were many tax law changes during 2018, but there’s some good news for eCommerce companies – you can still take advantage of deductions for certain equipment and software purchases you made throughout the year.

Section 179 Deduction

We don’t claim to be tax experts, but we are more than happy to point you in the direction of useful information on the subject over at the Section 179 Deduction site.

There, you can learn everything you need to know about this awesome deduction opportunity, including:

  • Deduction limits
  • Spending caps
  • The ins and outs of bonus depreciation (and what the difference between it and Section 179 really is)
  • What the Section 179 Deduction means for you
  • How Section 179 works
  • Much more!

If you’ve been looking for that one, last reason to pull the trigger on a major purchase, this may just convince you. And if you need software that can help improve your inventory and order management capabilities, you can drop us a holiday card at marketing@freestyelsolutions.com or send us a request for more info.

 

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cyber shopping
21 Nov

The OMS of the Future (a Look Back and Moving Forward)

By Jim Cahill In Order Management System /   No Comments
Online shopping on mobile

Courtesy Pixabay | PhotoMIX-Company

In 2016, we looked at how Order Management Systems (OMS) in the future would change the world of retail for everyone. It’s been two years since we put those thoughts on the proverbial paper…

What’s changed?

What’s to be expected moving forward?

When we first looked back to see how much things have changed, we realized — it’s not so much what has changed, but how much OMS has grown (and continues to grow) in capability.

A solid OMS simply means you can streamline ALL your buyer/user experiences. And we’d argue that this, in a nutshell, is the single most important determiner in how successful your brand will be. No matter what industry, what brand or who your target demographic is, virtually all consumers demand a stellar experience from the brands they support.

As they say, if you fail to plan, you plan to fail.

Keep reading to learn more about how and why OMS continues to be the wave of the retail future, and how it can help you plan for success.

OMS – Why You Should Care

Your image is important. How much does that have to do with OMS? We’d argue everything. But how exactly is your image related to the need for an effective OMS?

Simply put: your online presence must match your brick and mortar vibe – must match your social postings – must match your downloadables available – must match your email marketing campaigns – must match your…you get the point.

What type of experience your customers have across any and all channels can directly result in their overall view of your brand.

  • Are you consistently out of stock on orders?
  • Are delivery times lagging?
  • Do customers browse your online inventory only to show up to your retail store and find you don’t actually have a product?
  • Do you get product back in stock but lose track of backorders?

All of these can negatively affect your brand image. An OMS can support the image of an eTailer by aligning back end processes with front end marketing and promises. The end result? A positive image of you, as a brand and retailer, as competent.

Phew…we know…it’s a lot. But it’s important, and in the world of finicky consumers who thrive off a deep sea of competitor comparison shopping in just a few clicks, the power is theirs and you cannot afford to miss a beat.

Why OMS?

An effective OMS will support and centralize order and inventory management from every sales channel you promote.

What Can an OMS Do for You?

A solid, effective OMS will allow for one, holistic, singular view of everything you need to account for to be successful:

  • Demand
  • Inventory
  • Supply
  • Delivery-time estimates
  • Returns
  • Buy online, pick up in store (BOPIS) activity
  • Shipping options: ship from store; ship to store for pickup; ship direct

Want to learn more about Freestyle Solutions industry-leading M.O.M software for order and inventory management? Sign up for our FREE demo today.

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15 Mar

How to Integrate Data for Optimal Order Management

By Jim Cahill In Order Management System /   No Comments

integrate data order management

Retailers are constantly looking for new ways to incorporate data to help expand analytics, and much more. A recent IBM Analytics podcast discusses four ways data analytics will transform the retail industry:

  • From “less is more” to “bring it on”
  • From data mandate to data inform
  • From data reporting to data story-telling
  • From “industry-itis” to embracing the blur

As retailers begin to embrace new ways to include data into their efforts, inevitable shifts will come along, such as expansive data information. They speak about how retailers are starting to take a more balance approach to data.

As one retail executive shared, “Retail is science and art, and the art comes from people.”

Retail analytics and order management are no stranger to each other. Incorporating the correct data is essential to properly manage all of your business processes. Errors are most common when businesses fail to implement a way to deliver the right information to the right person, at the right time. Optimize performance by leveraging the power of actionable and timely information.

Features to Keep in Mind for Optimal OMS Performance:

  • Customized views based on business area – sales, inventory, orders, etc.
  • Ability to drill down into a dashboard with the click of a button
  • Easily export data via Excel, PDF or .CSV formats so you can manipulate or store your information wherever you’d like
  • Up-to-date view of key business information
  • Visual dashboards for quick view versus old standardized reporting

Specific initiates, such as buy online, pick up in store are some movements retailers are beginning to make in order to stay ahead. Internet Retailer reported about the home décor retailer, Kirkland, recently and examined their efforts to implement the ever-growing popularity of buy online, pick up in store.

“More than 70% of the retailer’s online revenue of $7.7 million in the second quarter, or about $5.4 million, were fulfilled via the buy online, pick up in store option.”
Internet Retailer

Along with the effort to implement new ways to keep consumers happy, retailers should also use a variety of differentiators to understand the needs of their individual customers. This includes customizing store views with advanced analytics that are targeted and localized, as well as providing real time reports for online order management.

Advanced analytics and data will give retailers and retail executives an advantage in anticipating changes in customer traffic patterns, defining ideal delivery routes and inventory levels, and enhancing unit profits. With data-driven, real-time fulfillment options, retailers can expect maximized profit margins.

 

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18 Nov

Why Your Order Management System Needs to Do More

By Jim Cahill In Order Management System /   No Comments

inventory and order management

Customer loyalty greatly relies on how effective your order management system is. Responding quickly to your customers is a given, but what else can you deliver?

An effective and streamlined OMS plays a pivotal role in your sales and delivery operation and gives you the upper-hand in customer service.

“95% of leaders say providing a good customer experience is the top priority, but only 37% have the budget and means to implement ways to improve the experience.”
– Forrester Research Study

Discovering the ins and outs of how your solution can truly benefit you is the next step to success.

The back-end order fulfillment processes are often seen as an afterthought when building a functional website. You want to be sure to focus on the ‘inside’ too when managing your orders. After all, customer expectations are dramatically increasing, and will only need to get stronger as time goes on.

Processing orders can be overwhelming for all businesses, and even more so as growth comes. A comprehensive order management solution is more than convenient for a few reasons. When all features and functionality are utilized, it can improve your business processes and help increase your online sales.

Find out exactly what you need in an order management system to ward off
the competition in the OMS eBook below.

call to action

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