Order Management Software: Benefits for e-Commerce
The e-commerce industry has flourished in the last couple of years. According to the latest forecasts, the number of digital buyers is expected to surpass 267 million this year, which accounts for a 1.4% increase from last year.
E-commerce platforms require efficient order delivery and maximum customer support to survive in the increasingly competitive digital marketplace. An efficient and reliable order management system has been exceptionally helpful in achieving this purpose and leading competitors in the same niche. Let’s look at what an order management system is and how it benefits e-commerce businesses.
What is an Order Management Software?
An order management system (OMS) is a back-end order processing software component that is integrated with the inventory. OMS includes everything from receiving customer orders and data, coordinating with inventory management systems, printing shipping labels and order routing to invoicing and payments, and managing product returns.
An order management system supports all stages of your company’s sales process and deals with the logistical challenges that come with a multi-channel environment. An order management system (OMS) provides a consolidated system for managing orders from all sales channels, such as retail, web, and web and mobile applications.
Benefits of Order Management System for e-Commerce Businesses
A reliable and effective order management system offers far-reaching benefits to your e-commerce business. Here are some major benefits of an OMS:
Low Inventory Replenishment Points
The biggest challenge for any business and particularly an e-commerce business, is managing inventory levels. Excessive inventory results in products reaching expiry dates quickly, while lower-than-required inventory leads to frequent out-of-stock situations, impacting the overall sales of any e-commerce business. The order management system coordinates with all entities involved in order processing and shipment, from locating the product in warehouses to order packaging, shipment, and delivery. The rapid flow of information results in quick replenishment or restock of inventory. This helps e-commerce businesses to stock the minimum required levels of inventory in their warehouses.
Customers expect a seamless experience from product selection to purchase and delivery. Most customers who experience faster delivery from an online store are highly likely to purchase from it again. OMS makes it possible for e-commerce businesses to fulfill orders within a short period. When a customer places an order, an OMS quickly chooses the fulfillment location nearest to the customer’s location. OMS will send an instant order fulfillment request to the staff to prepare the order for shipment. This process decreases the overall time in order pickup, packaging, and dispersal and results in faster delivery.
Order management systems allow businesses to grow at a faster pace. It allows you to grow your supplier and distribution network through scalable multi-channel order fulfillment.
Ease in Cross-Border Deliveries
The increase in globalization necessitates businesses to provide international services. Order management systems make it easier for businesses to deliver cross-border orders. Many order management systems facilitate payments in different currency types and ease the legal process of shipping products across the border.
Xpeer Helps You Create Optimal Order Management Systems
Xpeer is a leading internet platform to help e-commerce businesses find the top e-commerce website development companies and custom software development companies to develop an efficient and reliable order management system. We have a huge database of the top web and mobile development companies, .net and PHP development, B2B ratings and reviews, and web application development services.
Visit our website for more information.