“Out of Stock” is the word which every retailer tries to avoid. Retailers know that there are innumerable competitors in the market. If you cannot fulfil customers’ orders efficiently, customer may not take another second to switch brands. Order Management is the retailers key to build customer loyalty which ultimately has a huge impact on the organization. The complexity of order management has increased manifolds with the businesses expanding rapidly. The task of handling industrial customers is heavy as they place and deplete the orders in bulk so maintaining right track of stock becomes a daunting task when you get multiple orders from every possible client. Technology is a most suitable way for business owners to manage and maneuver a progressively complex business landscape. Phone, Skype, email, and face-to-face meetings are all unbeatable ways to communicate with your customers – but when it comes to managing orders, ensuring uniformity across all these different channels can quickly turn out to be a nightmare.
Order Management System has become imperative for running todays businesses as it gives customers as well as suppliers a track of their products. It not only helps in handling customers’ traffic efficiently, but it also tracks sales, orders, inventory, and fulfillment. Along with this it enables everyone in the distribution channel to streamline their activities and better coordinate with each other.
Benefits of Online Order Management System
1. Saves Valuable Time
Do you know every minute your sales team spends on administration is another minute they could spend on nurturing leads and closing deals? Over-the-phone ordering is a time-consuming process. By including an online ordering system for your business, your sales team can spend more time on selling, and less time on general admin, such as inserting sales orders into your system.
2. Minimizes room for human error
As humans we are going to make mistakes. The sales coming in through numerous sales channels, can be facile to confuse orders that come in, especially if customers are dealt with through a range of different channels – email, phone, text etc. With an online ordering system, the distributor will have straight access to information about your current stock levels. This uplifts transparency in the sales process and allows your distributor to have constant access to their order information, both present and past.
3. Consolidated real-time information across multiple channels
With numerous salespeople working on a range of dissimilar sales channels, it’s prime that internal information is shared in real time. The last thing you need is for one group of stock to be promised to two different customers! Because dealing with customers involves much greater volumes, having real-time access to current stock levels is necessary, particularly if the client makes his or her ordering decision days after their last conversation with a sales person. Using B2B e-commerce platform to automate inside communications, improves the speed and precision of doing business.
4. Customizable experience for each client
There are a few things that can give the feeling of personal touch. Knowing that your business partner is establishing a relationship with you, as opposed to focusing on a short-term transaction, can go in a long way to make a lasting impression on your client/retailer binding him to go nowhere else but come back to you every-time he needs your product.
5. Increased lucidity between the business and each client
As we all know for many businesses, lucidity lays the foundation for trust. As businesses become increasingly complex, it’s integral that distribution business maximizes transparency and share information with firms and clients they work with, at distinct points along the supply chain.
6. Attract new business
By freeing up sales staff, online ordering also magnifies your company’s ability to pursue new business and keep key clients, allowing you to grow your business rapidly.
7. Improve inventory management
The gap between an order being placed and the pertinent stock changes being entered into an inventory management system is, on the face of it, not significant. Regretfully, if your business receives an unexpected surge in orders, the time between an ordering being received and it being processed is likely to increase. Any delays can await you from taking urgent action to accommodate additional orders, such as ordering in more inventory or prioritizing non-urgent orders.
8. Document management
Document Management in the System will help reduce paperwork and will enable you to retrieve all or single information in a click. It reduces physical storage, lowers cost, helps in saving time and improves customer service.
Order Management System is an innovative tool that helps in streamlining the operations of businesses. It helps in better repo building with customers, distributors and retailers. With efficient order management system, you need not think twice before expanding your business as it will help you liaison with new business partners and customers.
OBOPAY’s DMS system manages the Past & Present orders. It allows the retailer to add, modify & cancel with the distributor being in the loop. This feature connects the systems utilized by various parties involved in processing the orders.