Choose the Best Order Management Software for Your Business
What is order management software?
An order management system or digital software solution is an advanced tool that eCommerce businesses use to track their sales, inventory, orders, and fulfillment. The whole order processing cycle is streamlined from order receiving to delivery while ensuring efficiency and accuracy. Order management software is essential for eCommerce to ensure and maintain operational efficiency and customer satisfaction.
How does an order management software work?
This automated inventory management software works efficiently by tracking stock levels and automating the whole order fulfillment process. It manages to reverse logistics and accurately link order-financial data. Thus, with the right order management software, a business can check and manage when their customers have orders and whether the delivery has been done properly.
It tracks inventory levels
Today, brands can reach customers through different mediums and channels. People allowed to buy goods and services via point-of-sale software, serve themselves through a brand’s consumer eCommerce centers, or merge online and offline processes with delivery options. For example, you can purchase online and receive the product from their offline store. Order management software (OMS) helps brands to manage inventory over different channels.
This is an effective asset inventory management system designed to help brands and businesses update their stock levels over all sales channels, identify the SKUs that sell best over different channels, and restock accordingly. Best-selling products can view based on region or channel.
It automates the fulfillment process
The supply chain is an interconnected ecosystem with the advanced OMS that allows businesses to automate their business processes in the best possible manner. the helps to accomplish the order fulfillment process through processing, packing and shipping in the least possible time. With this retail inventory management software, businesses can receive payments easily, the currency and shipping destination don’t matter. Users can feed order details to distributors or 3rd party lenders for fulfillment. For in-house order fulfillment, businesses can get printed shipping labels.
It manages to do reverse logistics
With effective order management software, businesses can manage to avoid upsetting their customers by facilitating a hassle-free return experience. Return labels printed automatically so that customers can send the products back if needed. Customers given insights into return status through online tracking. Besides this, the customer service team of the particular company gives information as and when customers choose to return a product.
It helps manage customer data
This Automated inventory management software works effectively to manage customer relationships. Businesses can access every small piece of data they have on customers, such as orders in the past, lifetime value, locations, and more. It offers companies insights into customer data and helps personalize marketing messages while sending to gain another sale.
Effectively combines order-financial data
It is imperative and essential to have order data in one central platform. But, eCommerce expected to be running a profitable business and emphasize making it more profitable. OMS manages to maintain great asset inventory management by integrating back-office operations with the finance software. In this platform, you can pull data from accounting software and combine it with sales and stock information. Businesses can get insights into the accounts payable and receivable, and also in automating invoice and purchase orders. It eliminates the need to make a manual data entry.
Tracko is one of the reputed order management software developers, offering industry-oriented OMS tools and solutions at unbeatable price rates. Visit our website to know more about our packages for different industries. We offer specialized OMS solutions for retail business.
FAQ:
Q. How does order management software help with retail business?
Ans: Retail inventory management is one of the features of OMS. It refers to tools that help retail businesses to track orders, stocks, and fulfillment processes. Brands are allowed to keep an eye on their processes, partnerships, and people.
Q. How much is essential order management software for a business?
Ans: An order management system can be considered the backbone of retail business as it helps automate manual functions and thereby decreases mistakes, saves time, and enhances results. This helps retail people to make more money while saving time and effort.
Q. What are the important specifications of an order management system?
Ans: An OMS usually includes features like multiple payment methods, a central order management platform, efficient inventory management, order and shipping integrations, great customer management, and syncing with retailers’ shopping platform.
Q. What does an OMS deal with?
Ans: It deals with typical order processes by helping businesses to manage the orders right from receiving to the shipping and delivery process. It tracks orders, pickup, package, and shipment details. The whole processes measured and managed to ensure customer satisfaction and operational efficiency.
