Top Reasons to Consider Using Order Management Software
If you operate an online store, then you will assuredly benefit from implementing effective order management software. Before we delve into the top five reasons why you want such a logistical solution helping you run your enterprise, let’s first examine some shocking ecommerce statistics that really are mind-blowing.
Shocking Ecommerce Statistics You Probably Didn’t Know
- If you force a guest to register an account during the checkout process, over 26% will abandon the shopping cart outright.
- As of the third quarter in 2012, over $4,400 is processed per second on PayPal by users, mostly for ecommerce shopping.
- Over 45% of all online customers rely upon social media influencing the decision they make to buy from your online store.
- Over 75% of all shoppers think they will get a better deal when they shop online, hence why they seek the internet over local stores first.
- The average consumer will spend over $1,200 per year at online stores.
- By the year 2016, ecommerce will grow another 7%.
- By the year 2016, over 192 million U.S. shoppers will be shopping online.
- By the year 2016, online sales driven from social media will grow 93% per year.
Surprising Ecommerce Statistics Revealed
Why You Need Order Management Software
As orders stream in to your online store, your customers expect fast delivery, expedited fulfillment and excellent customer service. Offer them this, and you have the chance to win over shoppers for a lifetime. Of course, your customers will also desire things like an effective returns management policy, great customer service and low prices; amongst other amenities. Managing your orders and fulfillment effectively will only serve to help you retain your existing customers while aiding you in attracting new ones via word-of-mouth and the major online search engines.
Top Five Reasons You Need Order Management Software
Here are the top five reasons why you ought to consider integrating such software solutions into your online store.
Reason No. 1:
Reducing Order Errors: The number one reason to use order management software is because you can decrease order errors. Customers will become frustrated when ship order errors occur, resulting in the wrong product being shipped to them, the product they ordered being shipped to the wrong address, or shipping delays associated with ineffective order fulfillment.
Reason No. 2:
Automation of Invoices: Chances are that your invoices can take you a long time to send out. With an order management solution in place, you can automate all invoice types. This means that simple invoices can be automated as can reoccurring orders, subscription-based orders and others. This translates into fewer tedious hours being wastefully spent generating invoices that could instead have been automated.
Reason No. 3:
Self-Service Ordering: The best order management software actually enables self-service of ordering by your customers. This allows them to place orders, pay and schedule delivery so you don’t have to. It amounts to easing your operations even further by putting the customer in command of their ordering process. Meanwhile, your fulfillment department simply handles the outgoing process as per usual.
Reason No. 4:
Faster Fulfillment Overall: Gone are the days of manual fulfillment. Astoundingly, many ecommerce businesses still rely upon this outdated method. Order management software can enable you to reclaim those lost hours while making the order fulfillment process far more efficient overall. This ultimately equates to orders being filled faster and with fewer errors, thus helping your company increase revenue while decreasing associated man hours involved in revenue generation.
Reason No. 5:
Better Inventory Management: Your inventory is the lifeblood of your ecommerce store. Inventory errors can create backlogs and can cost you an arm and a leg in both lost customers and in lost revenue. Order management solutions track your inventory in real-time. This prevents any order errors due to inaccurate inventory, and also assures streamlined order fulfillment at all times.
The Big Conclusion
In the unforgiving and ultra-competitive ecommerce world of the present day, you can ill afford to make any grievous errors with your fulfillment processes. A software solution can empower your business to take full control and enjoy the benefits of the analytics, logistics and synergy that such software brings to your processes as a whole. It’s best to view this as a necessary tool that you utilize to increase profits, and not as a consideration. After all, the objective of running your ecommerce store is to generate revenue, not lose it.