In the world of retail and sales, managing multiple sales channels simultaneously can quickly become overwhelming. You have to keep track of your inventory at all times, the status of customers’ orders, and ensure that all that information is accurate across all your channels.
Failing to do that results in issues with orders, running out of stock, and dissatisfied customers.
But there’s a simple fix for these issues: an integrated order management system.
There’s a reason for the increased popularity of order management systems in eCommerce. They completely revolutionize the order process, and they are the future of the industry.
In this blog post, we’ll go over the benefits that make order management solutions so effective for retailers and ecommerce channels alike.
The 10 Key Benefits of an Integrated Order Management System
From reduced inventory costs to a superior customer experience, there are myriad different benefits that ecommerce order management systems bring. Here are 10 of the top ones:
- Optimize your inventory
With integrated order management, you have better control over your inventory. Being able to know at all times how much of a product you have, or need, means there is no longer any guesswork involved in the order process. Furthermore, your different teams can keep better track of your available products and the orders coming in to ensure everything is fulfilled appropriately. You can also use this data to move your stock around efficiently, so it’s always centered around the sales channels that need it most.
- Manage your inventory costs
If you know your inventory levels at all times, you don’t have to worry about overstocking products. You will have the data to know what you need and when, and you can use this data to be prepared ahead of time without needing to incur unnecessary costs. By eliminating manual processes and checks, you further reduce costs related to inventory management. The system will keep track of your inventory levels for you.
- Manage all your sales channels from one platform
Managing multiple sales channels with different software solutions and data sources can quickly lead to errors. An integrated order management system puts everything in one place, allowing you to synchronize the data from all channels and compare them in real time. This allows you to know how each channel is doing, what marketing efforts are proving more effective, and gives you the data you need to shape your sales strategies.
- 360-degree view of your business
With standard systems and manual processes, it’s hard to be up-to-date on all aspects of your business. We are not omnipresent; we can’t be everywhere at once. But an integrated order management system can. It will provide you with real-time data on all aspects of your business, from inventory to sales and distribution. You don’t have to worry about blind spots.
- No more paperwork
Digitizing your documents not only saves you time and space, but also allows access to critical information at all times from any system connected to your software. Physical documents can get lost, and they are harder to keep track of. Digitization increases the security of your information. Plus, you also save on costs related to producing and storing paper documents.
- Real-time order status
By automating your order processing system and inventory management, you can offer an updated look at the status of your orders. This makes it easier for your teams to work on each order and allows customers to know where they stand on theirs. Your customer service efforts will be more effective with real data to pull from, and your customers will be more satisfied overall.
- Provide a superior customer experience
With updated inventory, your customers won’t be left guessing whether a product is available or when it will be on stock. They also don’t have to guess when their package will arrive or wait around for it, thanks to real-time status of their orders. Being able to synchronize all your sales channels means you’ll give your clients more options to choose from, making their lives much simpler.
- Reduce errors
Errors with orders and inventory happen due to two things: human mistakes and lack of information. An order management system fixes both of those. Your inventory data will be constantly updated so you don’t make any decisions based on incorrect information, and the system works automatically which drastically reduces the chance for errors from human input.
- Sales synchronization
In sales, information is power–and with an integrated order management system, you’ll have all the information you need. Your sales channels can be monitored from one place to coordinate your efforts cohesively. You’ll know exactly what marketing efforts are working effectively, and which ones aren’t. What is selling, and what isn’t. Plus, your sales team will have updated inventory information that allows them to adapt their sales strategies and confidently approach potential customers knowing what they can offer.
- Operate more efficiently
A business where all channels have access to the same data–and where that data is constantly updated live–is one that runs smooth as silk. With an order management solution, ecommerce operations will be easier than ever before. It simplifies your order and inventory management, and keeps your customers updated and happy. There’s nothing to lose and everything to gain.
An integrated order management system is a solution that offers countless benefits to any retail or ecommerce business. Freestyle Solutions’ M.O.M offers all of them, and much more.
Contact us today to learn how M.O.M. can offer these benefits and help you get a higher ROI from a multichannel order management system.