- by eSellerHub
Order management software is used in many industries which brings efficiency by keeping a track of the orders and maintaining them accurately. The software enters the orders received from the customers through any means of communication, be it telephonic, data entry or electronic system. It has an integrated system which supports the order entry, management, and delivery. It has various modules that effectively process the orders. It also provides information about the products. It is centralized system software having online updates so that the customers, delivery agents and sales representative all can access and update into a single software and an up-to-date information is available.
Apart from order processing the Magento order management software also undertakes the marketing activities, data analysis, purchasing, receiving along with financial activities such as accounts payable and accounts receivable. It is an effective tool for carrying out business operations smoothly.
For instance, the telecommunication companies use this software to process client information for billing, accounts, maintenance, etc. On the other hand, the retail companies use for maintaining their inventory, shipping, packaging, details of the orders given by the customers, etc.
Even financial securities companies make use of this system. When an order is executed the Magento order management software automatically updates the database. There are various financial functions such as underwriting, the split transaction between stocks and dividend, portfolio modelling, post-trade support, trading blotter, etc. performed effectively with the aid of order management software. It also helps to connect the customers with the brokers.
The Magento order management software is widely used by e-commerce companies. It provides various facilities like entering the order through data entry system or a web – site shopping cart. It stores the customer propriety as well as account level information. The payment processing and credit verification are also undertaken by the system to check the validity and availability of funds. Once everything is clear, orders are then processed further for warehouse activities such as picking, packing, and shipping.
The software can manage an order from multiple sources like the e-mail, fax, customer call, mobile device, EDI, internet, etc. The order management software also includes order search, order modification, order copy, customer search, approval, cancellation, product substitutes, product search, etc. There can be different delivery methods like 3PL, door to sales, customer pick-up, external carrier, etc.
Benefits of order management software
- Managing business becomes easy
As your business grows it needs more flexibility and functionality to meet the increasing needs of the customers. Order management software acts as a platform for the companies delivering an ultimate shopping experience to the customers and makes their life easier. It fulfils the orders directly from the stores. It provides your customers a vast range of products. This enables you to sell your product to its maximum to anyone and anywhere.
- Ensures customer loyalty and faster results
The ability to react aptly to the customer’s demand is the greatest achievement and adds to your value. Because of Magento order management software, you will have a broad view of your customers’ inventory and orders. The software has the ability to fulfil the orders of the customers from the best possible location which saves time and shipping charges of the customer. Due to the efficiency of the software, you can exceed customer’s expectation and can retain them. The software makes different ways available that a customer can buy, this, in turn, increase the profits of the company.
- Reach the markets fast and low cost of ownership
Due to the ever-increasing customer expectations and desires, there is an urgent need for better and improved order management software. Because of the competitive market many advanced technology investments are being done to improve the performance of the software. For this, you need to reach the markets as fast as possible and stay ahead of your competitors. Magento order management software has systems and process that meets the business goals giving the customers a great experience, lower fulfilment cost, and increased sales.
- Increases order delivery options
Order management software enables you to provide your customers maximum flexibility which appropriately manages your inventory and also enhances the delivery options so that the product can be delivered to the customer anywhere they desire.