The logistics process involved in managing orders plays a vital role in maintaining a loyal customer base for any organisation. Deploying an order management system is vital for the timely delivery of premium quality products.
If you are a business trader or own a manufacturing company struggling with managing a pipeline of orders, it is time to choose a cloud-based ERP system like https://www.netsuite.com.au/portal/au/products/erp.shtml.
An ERP order management module can help with an automated order to cash-generating process. Read more to know the hidden benefits of the cloud-ERP system for better order management.
What is a Cloud-ERP System?
According to recent reports, from 2022 to 2024, the global ERP software market value is projected to reach $96.04 billion, $96.71 billion, respectively, at an estimated CAGR of 0.7 per cent.
An ERP or an Enterprise Resource Planning platform is a database management module that integrates the business processes into a single, easily accessible system.
A cloud-based ERP runs on a cloud computing platform owned by the vendor instead of hosting the services on the client’s premises. A SaaS ERP system has data updating and management tools hosted on the cloud.
A cloud ERP system has the following benefits:
- Real-time upgrades with the latest technology and tools.
- Lower maintenance and operating costs.
- Faster implementation process.
- Easy scalability and world-class security system.
- Improved mobility and accessibility from multiple locations.
- Faster data recovery system.
- Automated sales process and order management system.
What is an Order Management System, and Why is it Useful?
Quick customer service and order fulfilment processes are essential to maintain a competitive edge in the business world.
Deploying an order management solution helps in the effective collection and processing of customer demands promptly.
An order management system integrated with a cloud ERP solution can help automate the order processing cycle in an organisation.
Some benefits of an order management system include:
- Better inventory management
- Real-time information of existing orders.
- Automated work orders improve business efficiency.
- A streamlined communication of business functions among different departments.
- An error-free, centralised database of product information.
Importance of Cloud ERP for Better Order Management Process
A web-based database management solution helps maintain a consistent, seamless data flow within the organisation.
The solution tracks and monitors the complete order fulfilment process from placing a sales quote to final invoice and payment generation.
Customer-Specific Pricing and Promotions
A web-based ERP solution offers multiple pricing and promotion options for customers for multiple currencies and membership discounts.
The eCommerce portals can be updated in real-time with pricing updates with an omnichannel pricing management system. The cloud-based software also allows automated rounding options for the costs of products.
A centralised promotions management system allows maintaining consistent costs of products for individual customers on shopping websites and online marketing campaigns.
Automated Cash Flow
It is essential to check bottlenecks and gaps in the order management system to avoid delays in the order fulfilment process. A web-based system helps in automated cash flow control by addressing these issues.
A cloud ERP solution can help calculate the gross profit percentage based on item costs and delivery rates. Real-time workflow analysis tools allow tracking order approval and fulfilment process.
A defined workflow model shortens order shipping time. The online system finds the nearest manufacturing unit to deliver the products faster. It improves the business by increasing a satisfied customer face.
Improved Customer Support System
Post-delivery customer support service is essential to retain a positive brand image of your organisation. A web-based ERP solution offers excellent communication and an immediate response system for customer queries and issues.
An ERP system comes with integrated return materials management tools in a dedicated customer support area. A unique dashboard on the online portal provides automated email updates to customers waiting for feedback.
A warranty management system manages repair work orders and customer returns. It offers customised warranty profiles for clients based on a coverage amount and policy period.
If a customer returns a product, a refund management system provides prompt repayment options. It analyses initial multiple payment methods like credit card or cash and initiates a refund amount accordingly.
An expert CRM functionality with a cloud-based ERP system provides easy report generation of pending refunds or repairs. You can track recurring issues in a product and adopt strategic business analytical tools to improvise the system.
An expert online ERP solution can help eliminate issues like redundant orders, wrong billing or invoicing data, shipment delays, and poor customer service.
An ERP module can effectively combine procurement, warehouse fulfilment, sales, finance, and order delivery systems. It helps in strengthening revenue generation and building brand awareness in the market.