In the fast evolving world, the small and business sized businesses are now shifting the sales channel to E-Commerce. E-Commerce is very attractive for customers to order the goods and services to be delivered at their doorstep or on-demand.
Retailers all over the world have been suffering from the impact of the COVID-19 pandemic with the decrease in revenue and the closure of stores. In the situation that consumers tend to ease their shopping habits in physical stores during COVID-19, online shopping is considered an effective choice. Moving your business into a digital environment,
When you leverage ERP software with your e-commerce functions, it can make many tasks simpler and faster. The specific functions ERP software can assist with depends on the type of business you own and the software you integrate.
The obstacles for traditional retailers to build an e-commerce platform
When you want to enter the online retail industry, you need to know about the basic concept to set up an online store. Nothing is going right for the first time, but you need to get over the obstacles to build that product. The typical problems are in the following section:
Product flow: This flow is about the movements of goods and services from the suppliers to the customers. Essential goods should be delivered at the right time at the right place in the right condition.
Cash flow: When your customers make a purchase, they pay for it. The cash flow is the movement of money back from customers to suppliers. This happens in many areas. Your consumers can choose COD (Cash on Delivery) to make sure they receive the package, or they can pay by Credit/Debit cards so suppliers can have their money immediately. There are many other ways to pay online like bank transfers, E-Gift Voucher, and e-wallets.
Information flow: This information flow happens in both directions: customers & retailers. This flow of information is necessary for the proper functioning of all the activities in an eCommerce model. Customers ask for information and likewise, the retailer also requires information from the customer. Since the process is online, this flow is important for a smooth transaction and seamless working of the stores.
Reverse product flow: This flow refers to the product return which has to be picked from the customer and returned to the retailer through the eCommerce platform. If any customer is not satisfied with the product or even finds it in a damaged/defective condition, the customer can conveniently initiate the return online and ask for replacement or exchange or refund as per the policies of the eCommerce player which varies from product to product.
How ERP Helps In Customer growth?
– Order placement: ERP software can assist in the order placement process by automatically setting into motion the next steps, such as calculating the shipping costs or creating a shipping label.
– Customer updates: With ERP software integrated into your e-commerce platform, automatic communications are sent to your customer, such as when an order is received, an item has shipped, or an item has been delayed in the shipping process.
– Inventory details: When an item is purchased, an ERP system can automatically change the inventory count which prevents customer orders from getting to completion if an item is out of stock.
– Marketing Automation: Create automatic & targeted marketing campaigns · Craft sophisticated end-to-end customer journeys · Design engaging email campaigns in minutes.
Operational Benefits of ERP:
ERP offers many benefits to a company’s online ordering processes and procedures, including:
Ensuring stock is sufficient: Hand-keying stock can lead to human errors and waste employee time. ERP solutions automatically update stock, ensuring these numbers are accurate and current.
Simplifying order tracking: Customers want to know where their orders are and when they can be expected. An ERP solution updates order tracking and automatically alerts customers on the whereabouts of their orders as needed.
Automating accounting tasks: By automating accounting tasks, the potential for human error is eliminated. An ERP solution that assists with accounting can ensure your business turns inaccurate numbers.
To know more about smart business processes and operational systems we develop at TIL Solutions, please leave your contact details in the contact form or reach us at (Email) we would be happy to know more about your business and suggest an ERP solution for the same.
