In today's fast-paced eCommerce world, efficiency is king. Unfortunately, traditional methods can introduce errors and slow you down, impacting your efficiency and, by extension, your bottom line. This article explores a game-changer in eCommerce: cloud-based order management systems (OMS). Discover how it can automate tasks, eliminate errors, and streamline your operations, propelling your business toward peak efficiency and positive customer experiences.
How is OMS different from inventory management?
While people often use the terms "inventory management system" and "order management system" interchangeably, there is a crucial distinction. Inventory management helps you anticipate customer demand and stock accordingly. Unfortunately, this approach depends on data obtained after sales have been made and after stockouts have occurred. In addition, inventory management may fail to take into account recent market shifts and other dynamic factors (such as supplier issues).
On the other hand, an OMS manages incoming orders in real time, tracking inventory to help you avoid shortages in the face of customer demand and prevent overstocking on items. Traditional order management systems reside on a company's own servers, offering full control over their features. However, they typically come with hefty upfront costs for hardware and software, as well as long-term costs for maintenance and updates.
Cloud-based OMS features
Cloud-based OMS empowers eCommerce businesses to track orders for goods and services from a centralized dashboard that your team can access anywhere, on any internet-connected device. Its features include:
- Real-time inventory updates: Your website accurately reflects stock availability.
- Automated processes: Automate payment authorizations and shipping integration to streamline operations.
- Customer order status updates: Keep customers informed with automatic shipping notifications.
- Automatic inventory reordering: Never run out of stock again with automated restocking.
- Effortless returns and refunds: Automate returns and refunds for a smooth customer experience.
- Mobile monitoring: Manage your business from anywhere with an internet connection.
- Cost-effective data storage: Cloud storage offers a secure and efficient way to store your data.
- Disaster recovery: Get peace of mind knowing your data is protected in case of unforeseen circumstances, such as cyberattacks or natural disasters.
Cloud-based OMS benefits
As a result of the above features and the inherent advantages of cloud computing, cloud-based OMS ensures the following benefits:
Actionable insights to fuel strategic growth
The setup of cloud-based OMS makes tracking and organizing customer shopping data easy and efficient, giving you a comprehensive view of consumer behavior, market trends, and product performance. You can leverage these insights to optimize product offerings, personalize the customer experience, and make strategic business decisions that propel growth.
Total inventory visibility for informed decisions
Obtain a real-time consolidated view of orders and inventory levels across all your sales channels. With a 360-degree perspective into your inventory and operations, you can optimize stock levels, prevent stockouts, and maximize sales opportunities.
Faster delivery to exceed customer expectations
You can set up a cloud-based OMS to automatically identify the closest fulfillment center and shipping method for each order. This translates to faster delivery, reduced shipping costs, and happier customers.
Fewer errors for boosted efficiency
Automate order processing tasks to eliminate manual data entry and updates. This significantly reduces errors, improves overall operational efficiency, and frees up your team to focus on higher-value activities.
Reduced costs to enable investment
Fewer errors translate to saved time and resources on correcting information. Additionally, the cloud-based system eliminates hardware expenses and associated maintenance costs, allowing you to invest those savings back into business growth initiatives such as marketing and product development.
As the eCommerce landscape continues to evolve at an unprecedented pace, a cloud-based OMS becomes an essential tool for businesses of all sizes. Don't be left behind. Explore the transformative power of a cloud-based OMS and unlock the full potential of your online store. Contact us today to discuss how we can help you implement a solution that optimizes your operations, empowers your team, and drives your business forward in the competitive eCommerce sector.
