With the right B2B order management software, businesses can achieve the following:
- Reduce operational costs by 20% with automated order workflows and reduced human error
- Deliver orders 90% faster by optimizing inventory & shipping with real-time data
- Boost customer satisfaction by 25% through increased order visibility and self-service
- Say goodbye to chaos: eliminate manual processes and reduce order errors by 62%
When it comes to B2B order fulfillment, customers want fast and efficient delivery. This need for speed means that businesses need to streamline processes in order to remain competitive. The right order management system is essential for a positive shopping experience.
A study conducted by global research firm IHL Group1 found that companies with greater than 10% growth are 208% more likely to have an order management system in place. But without the necessary precautions, order management processes can eat deep into your budget2.
We’ve compiled a list of key benefits that order management systems bring to the table.
Reduce operational costs by up to 20%3
B2B order management systems reduce errors and minimize delays in order processing and fulfillment by automating unavoidable back-office tasks, allowing employees to focus more on strategic tasks.
This reduces delivery costs, minimizes order fallouts, expedites customer orders, and reduces the risk of human error.
Automation in the sales order process dramatically reduces processing time, enabling companies to invest in digital solutions that ensure efficient and timely delivery. B2B order management software and order fulfillment software handle large amounts of data efficiently, preventing problems associated with data being spread across different channels, e.g. incorrect orders reaching customers.
Additionally, by reducing the need for manual sales order entry, automation addresses the challenges of staff retention4 as it cuts out labor-intensive tasks and minimizes tedious rework and swivel-chair processes.
Cut lead-to-order time by 25%5
Inventory management grants businesses real-time control and visibility over order processing, inventory fulfillment, invoicing and performance. It plays a crucial role in strategic order allocation and B2B order fulfillment, ensuring accurate and easily accessible information about inventory movement across various touch points.
Notably, 43% of small businesses6 in the US lack inventory tracking, with 62% attributing inventory or order fulfillment issues to human errors from manual processes7. By leveraging data, it allocates inventory to optimal locations, preventing frustrations like out-of-stock products or delayed deliveries.
OMS facilitates real-time fulfillment from any location, dynamically routing orders based on predefined rules and current inventory status, thereby ensuring all products are accessible on every sales channel.
Shorten order fulfillment time by 90%8
The traditional method of receiving, tracking and fulfilling orders is known for being time-consuming, error-prone and costly.
With real-time updates, OMS enables businesses to identify areas for improvement, optimize processes and provide customers with instant information about their orders, significantly reducing customer service inquiries and enhancing overall customer satisfaction.
Although practically every customer will expect insight into order status, current location and delivery date, only 6% of businesses report total visibility into their delivery process9.
To meet expectations, businesses need a centralized order management system that consolidates all information in one location, streamlining order fulfillment for faster, more flexible and cost-effective shipping and delivery, ultimately resulting in a more efficient and transparent purchasing process with fewer errors.
Boost customer satisfaction10
OMS plays a pivotal role in enhancing customer experience by efficiently getting more orders out the door and keeping up with the demands of an ever-increasing digital world.
In a landscape where 80% of customers are willing to pay for a better customer experience11, order management contributes to this by providing automated real-time visibility into customer orders, ensuring a consistent and seamless experience with faster fulfillment times.
The ability to track progress of outstanding orders offers customers instant information, including current location and delivery date, reducing service inquiries and enhancing satisfaction.
Streamlined experiences of this nature contribute significantly to building loyalty and delighting customers. For B2B buyers ordering products online, the expectation of self-service extends to returns. Businesses that offer seamless ordering also need to facilitate easy returns without the need for calls to service agents or sales representatives. With self-service capabilities, companies can guide customers through these processes, fostering a personalized and convenient journey.
In an omni-channel environment, customers expect a seamless experience at every ordering milestone in their journey, whether placing an order online or receiving updates on order status. These opportunities not only improve customer experience, but also boost retention and revenue for retailers.