Key Benefits Of An Order Management System
November 15, 2019
Customer expectations and product demands have changed. As customers increasingly drive the buying journey, merchants must adjust quickly to ensure they are delivering a seamless customer experience in a way that is cost-effective for their businesses. This is where an order management system can help, providing key benefits that align a company with evolving customer expectations and current market demands.
With all the features and benefits that an order management platform can offer, a surprising number of commerce merchants still do not focus on digitalizing this process. Whether you are a small business with two stores or a large, multibillion-dollar company, using an order management platform, such as the one provided by Magento, is necessary for continued growth and profitability.
When paired with a strong digital commerce platform, an order management solution can help provide the additional capabilities needed to meet customer growing demands and expectations. With such fierce competition, your business needs to rely on more than just the traditional methods of order management. It’s important to invest in an updated system that provides seamless orders, tracking, customer service, and omnichannel functionality.
Seamless Order Management
The order management process starts when a customer places an order, and it ends when the service or items are received. From the moment a sale is made to the second it is in-hand, the entire process needs to be as seamless as possible for the customer. Your order management solution needs to make the entire process flow across all touch points. It also needs to happen flawlessly, without delays or other problems.
If a customer experiences any hiccups, glitches, or something perceived as a disturbance to the overall buying experience, that person is more likely to become unhappy with your company. If your order management system, or lack of one, cannot meet or surpass customer expectations, you are at risk of losing clients, and they will take their business elsewhere.
Centralized Customer Service
Today, customers expect to be informed every step of the way across the buying journey with regular email updates, tracking information, and delivery status alerts. Without order management solutions in place to compile customer information and filter data into one place, there are more opportunities for error.
With Magento's centralized customer service, all customer and order information is centralized in one location. This keeps every customer service rep more informed via a complete view across sales channels and fulfillment centers to address any inquiries about shipping, delivery, or even cancellations.
We're seeing drops in call center volume ranging from 40 to 60 percent as customers can track order status online. This transition to more transparency in the shipping and delivery process is something customers are beginning to expect whenever they make a purchase.
Omnichannel Store Fulfillment
From buy online/pickup in-store (BOPIS) to same-day shipping, customers expect as much choice in delivery as they do in channels of engagement. Shoppers expect to be able to have an order fulfilled in a way, time, and place that is most convenient to them. Each touchpoint in the journey presents an opportunity to provide great customer experience and boost retention and revenue.
Magento omnichannel capabilities offer customers the type of options that are expected today: ship from store, ship to store, BOPIS, and an endless aisle of inventory. This endless aisle gives customers more options to purchase items from a global inventory that can be fulfilled anywhere.
Global Inventory and Sourcing
The size of your business should not limit your opportunities for growth. Showing the customer live inventory is incredibly powerful and something an order management system can enable. With the option of utilizing global inventory control, customers are able to view real-time information on where they can purchase and obtain their required products or services. Even if you have a couple of inventory locations – for example, a store and a warehouse – you will have the ability with Magento's global inventory and sourcing to determine the fastest and most cost-effective way to get your products to customers.
If you are managing multiple channels, you can have more fine-grained control of your inventory to specify which SKUs and what quantity of those items are sold on which channel. This lets you prioritize channels to align to demand and margins, all critical for success at peak sales periods like Black Friday.
Invest in an Order Management System
These days it's about complexity, not about size. If you have multiple stores, warehouses, or sales channels and websites in various countries, and you want to try and bring them all together, order management makes sense. With order management, you're able to pull all of those different platforms for different countries together – in one place.
While the benefits of using an order management system for larger global companies are apparent, smaller businesses can benefit as well. What's notable about Magento's order management system is that no matter how small your business is, you can keep up with the platform. As your business grows, you can add customization and extensions to make the order management system do what you need it to do. From eCommerce purchases to in-store locations, consumers expect products and services to be delivered to them quickly and accurately. The benefits of using an order management system include having the ability to keep your inventory and tracking in line, while also providing a seamless, front-facing experience for your customers.