“The Internet is a game changer for a market that starting to embrace technology.”Bernard Hor, CEO of Hatio
Every aspect of the customer journey, from the sales channels you use to the delivery of the order, must match ever-increasing expectations. In order to fulfil and distribute orders accurately and quickly, inventory and order data must be synced in real time across all platforms at the very least.
An effective omnichannel order management strategy is a must if you’re in the business of selling across multiple channels.
To help you get started with an omnichannel order management system, we’ve put together a few things here.
What is omnichannel order management?
The term “omnichannel order management” refers to a software solution that makes it possible to access customer, order, and inventory data from any channel. In order to keep ecommerce and point-of-sale systems running smoothly, it manages all orders across the company and provides the necessary information. Omnichannel retailing aims to satisfy customers where they shop, when they shop, and with a consistent experience across all sales channels.
5 key benefits of omnichannel order management
One of the most important elements of a multichannel retailing strategy is an effective system for tracking and processing orders.
Omnichannel order management has a number of advantages.
1. Sell, ship, and return anywhere
The more complicated sales and returns can be the larger the business and the more inventory involved. You can sell and transport finished items from anywhere with omnichannel order management while also connecting customers to their purchase history for an easy shopping experience.
There should be a seamless returns process in place so that customers can return and exchange items either in-store or via self-service tools in case they need to make a return or an exchange.
Returns can cost you money in the short term, but if handled well, they can easily lead to a returning client.
2. Improve customer satisfaction
Customers want to know that they can access your product no matter where they are.
With the flexibility to sell, ship, and return products from any location, omnichannel order management workflows boost consumer satisfaction significantly.
Having the same real-time inventory data across all sales channels also helps to reduce stockouts and backorders.
Omnichannel order management ensures that the buying and returning procedure is as smooth and easy as feasible.
3. Simplify logistics workflows
Internal logistics are enhanced, as well as the consumer experience. Simply put, it’s easier to keep track of your inventory and returns when all of your orders are integrated in one spot.
It’s important that orders are processed promptly and returns are handled efficiently with omnichannel solutions since they allow for correct inventory, order fulfilment data as well as return data to be shared across channels.
4. Maintain a consistent brand experience
Having the capacity to maintain a consistent brand experience across all platforms is another important benefit of this strategy.
Your brand experience may be the same regardless of how your customers choose to shop: in-store, online, or through a third-party service.
As a result, your brand has a more cohesive presence across all distribution channels and consumer touchpoints, enhancing client loyalty over time.
5. Scale operations with ease
With a framework in place, it’s much easier to add new sales channels to your business.
By way of example, adding a new revenue stream would include integrating it into your current plan rather than creating one from scratch.
As long as your present processes like inventory management, fulfilment, and shipping don’t need to be altered, you can immediately begin selling on the new platform.
Key omnichannel order management features to consider
Depending on your company’s requirements, the following capabilities are a must-have in an omnichannel order management system:
1. Inventory management
Inventory updates across all of your channels should be automatic at a bare minimum. The stock levels are automatically updated across all of your sales channels when a consumer buys something on Shopee or Lazada, for instance.
Additional features include algorithms that route your purchases to the appropriate warehouses and fulfilment centres, and discover the best shipping alternatives for each sale. When it comes time to pick, pack, and ship, the inventory data should come in handy.
2. Order management
All customer orders and returns should be processed through a single, standardised workflow. With this information, you’ll have an easier time managing your customers and gaining insights into their purchasing habits.
3. Shipping integrations
Are all major shipping companies (like FedEx, NinjaVan, DHL, Shopee Xpress) and your 3PL’s technology supported by the software?
Many omnichannel softwares offer connectors with shipping and fulfilment services.
Modern technology, for example, can be connected so that you can follow orders and shipping from a single location.
4. Business intelligence
Using omnichannel order management software provides an additional benefit in terms of customer reporting and insights.
Every aspect of your business may be viewed from a single dashboard.
It’s now much easier to keep track of important stock history data and distribution channels by date or by a fulfilment partner with the help of insights tools.