Why do you need order management software
Businesses existed way before computers and technology came into being to automate the order management process. Back then, everything was done manually – from bookkeeping to registering orders in a log so that the businesses could keep track of the order history. Gradually, as computers became more and more popular, the need for a digital order management system came to be. As businesses moved online, that need became stronger and with evolving technology, different order management systems came into existence.
An order management system is an eCommerce solution that keeps track of sales, orders, and many more. All successful online businesses are now using an order management tool that helps them to keep track of their orders, organize their resources and to create accurate stock forecasting.
What are the advantages of using an order management tool?
First of all, it allows you to process orders within seconds in real-time
You, as a seller, can track the status of an order – from the moment it comes into your system until it has been processed and dispatched. Real-time processing in order management means that the order data will be available to everyone in real-time, meaning that your business doesn’t require a large number of resources to sync the system on multiple devices.
Order processing done in real-time reduces the amount of paper used by your business and enhances the speed of which orders are processed. Using order management software you can detect problems in real-time and fix them on the go – without having to waste time or resources on finding the problematic order. Data enters into the system immediately as the order is placed, therefore you can monitor what is happening within your business in real-time, instead of waiting for a day to discover a problem that could have been easily fixed if it had been identified immediately – this will keep your staff on their feet and the customer satisfied. This can lead to an increase in productivity and it will allow you to easily forecast sales in the future.
It can help you measure the efficiency of the order fulfillment process
All online retailers should measure their order fulfillment efficiency, by identifying which products had the best ad worse sales. A good order management system can help you plan your inventory.
An order management system can provide real-time analytical reports related to the number of orders or the value of your total sales for a given period. You can even practice some demand forecasting methods to understand which products would be in demand in the coming future – just so you can avoid overstocking or understocking.
This will help you to efficiently manage your cash-flow and profitability thanks to the extra insight to identify where to focus next in business for higher sales.
It can help you maintain the optimum level of inventory
It’s very inefficient to keep too much inventory and it comes with the risks of obsolescence and shrinkage, and the same goes with keeping too little stock – if product sales pick up, it can easily lead to your business remaining without any stock, making your customers purchase the products from elsewhere. An excess of inventory requires a lot of warehousing space and manpower which eventually increases the cost.
It helps to reduce the manual workforce and staffing costs
Keeping up with the latest trends in technology is a must – or else you might end up spending money on manual workforce and staffing – which could have been used for developing other key aspects of your business.
According to a survey made by Smartsheets, over 40% of workers spend at least a quarter of their workweek on manual, repetitive tasks like emailing, data collection and data entry.
This is why automating monotonous work, like emailing and data collection with an order management tool can help you save a lot of time and money.
It makes selling on multiple marketplaces easy
Having an order management software that is linked to all of the marketplaces you use to sell your products can help to increase your focus a great deal!
Usually, it would take you a considerable amount of time to log in to each marketplace account and print out the orders, then manually sending the invoices to your clients. With JustShipIT you can do all of these with just a couple of clicks! Our order management tool is able to integrate with multiple marketplaces, such as eBay, Amazon and also e-Commerce websites like Magento, Shopify, WooCommerce, BigCommerce and many others. The app automatically generates invoices and labels, thus saving you a lot of time over traditional, manual methods.
Overall, order management software can help you optimize your workflow. With the ability to do actions in bulk, you can finish your daily tasks much faster than before. If you need further information regarding our top tier order management software, you can always call our support line on 0121 285 1052.