Find the Best Order Management Software

Order Management Software: A Detail Guide

The order management system takes, sorts out, follows, and fulfills purchase orders for an organization's products or services.

The whole concept of business deals is effectively managing orders from the corresponding clients regarding their business requirements and specifications. Gone are the days when traditional methods were used to effectively carry out a business process. With the latest technological developments and incorporation of effective marketing strategies, the business has inevitably risen to more excellent standards. Order Management Software is the exact tool that needs to be implemented if you want to keep up with the business revolution in the current economic scenario.

An order management system computerizes and streamlines order management system processing for the organization. Order management software gives constantly updated stock information, merchant’s database, client’s database, a database record of goods returns and refunds, billing and payment-related information, and order processing information.

A well-executed order management software benefits incorporate enhanced sales visibility, enhanced customer relations, and efficient order processing with minor delays and back-orders.

Benefits of Order Management Software

1. Comprehensive marketing data as per the business specifications.

2. Detailed invoice generation and report maintenance for future reference.

3. Shipment tracking software features to monitor the order details effectively.

4. Customized alert facilities and mobile notifications for order management on the go.

5. Creative and intelligent user interface with accessible navigation features.

6. Automatic updation and processing of order data for more excellent performance standards.

7. We have an automated response system for dealing with various queries and user feedback.

8. Modular implementation of business solutions partner for greater decentralization.

9. Cross-platform synchronization for better computability in internetworking devices.

10. Extensive database with smart updation and retrieval.

11. Inventory systems in complete compliance with the market standards.

12. Visual representation of the obtained orders for market statistics and growth curves.

13. 24*7 assistance and support systems for future performance requirements.

14. Streamlined processing in terms of refunds and cancellations.

15. Better cash flow ordering techniques and management of monetary solutions.

Key Features of Order Management Software

Here are the five most essential functionalities you should look for in order management software:

1. Centralized Order Management:

   If you list your products in more than one e-commerce store, your eCommerce order management software should manage them centrally. It is a significant feature in the order management system, designed to receive and track orders from various channels. Centralized order management helps to improve productivity by synchronizing all the orders from multiple channels into one. It enables dealing in real-time and provides better customer service by making it easy to process orders and exchange or return products. One can use customer service software for the same.

2. Shipping Service Integration:

   Even after the product has been dispatched, the merchant's work is not over. The seller and the buyer need to know the current status of their parcel shipment. That's why the software integration with shipping service is essential so that the seller can allow their customers to do real-time tracking of their orders. And as for the sellers, this feature will allow them to track and process payments collected by shipping companies. Besides, the order management software should provide as many shipping integrations as possible. E-commerce businesses using e-commerce software are now expanding their delivery options for customer convenience and reduced shipping costs.

3. Multiple Payment Getaways Options:

   It's essential to have multiple payment gateway software. Mainly because many customers tend to abandon their shopping carts if they don't find their preferred payment method; by providing buyers with a wide range of payment services, merchants can earn more. That's why always look for order management software that offers enough payment methods to make the checkout process convenient for patrons.

4. Inventory Management Sync:

   To provide the best customer experience, you need to update your stock status in real-time, not receive orders for out-of-stock products. It can create a wrong impression for your business. And, it's not a feasible option to manually maintain your inventory spreadsheet. There can be errors in the entries, plus you won't keep up with the tedious task. Many inventory management software is available in the market to offer inventory solutions for the business. The option of syncing your order management solution with inventory software will be helpful to the right from recording the inventory entries, keeping quantity and stock levels under check, and making it effortless to manage the orders from a single order management system.

5. Shopping Platform Integrations:

   There are many benefits of amalgamating shopping carts with order management software. It assists retailers in extracting the necessary data from them, which is crucial for anticipating sales. Having more order management system shopping cart integrations automatically means more potential clients for you.

6. Customer Management:

   The most prominent marketing strategy is to provide a great customer experience. The best way to do that is by answering customer queries before they are asked. While you shop online, most e-commerce stores notify you about your order being received, processed, and shipped with detailed information about each stage. It is possible by integrating an order management system that can automatically send corresponding emails.

What Things Should You Keep in Mind While Buying Order Management Software?

1. First and foremost, one should ensure that the software requirements are incompletely computable with the system specifications wherein the software needs to be installed.

2. The software's user interface should be highly interactive and easy to use.

3. Great security features against potential hack attacks to ensure better integrity of the software.

4. The time complexity of the individual transactions in the software should be highly reduced for the best performance.

5. Incorporating cloud technology is a must to ensure hassle-free business on a massive scale.

What is the Role of the Order Management System in Your Business?

Order management system software consists of various modules that incorporate the different stages of business process execution and integrates trading market standards for better financial efficacy. Any placed order goes through multiple Order Generation, Processing, Fulfillment, Report Generation, etc. All these aspects must be effectively managed for better business opportunities; hence, order management software is highly recommended for your business.

Top Order Management Software Vendors By Company Size

Expected to reach $2.44 billion by 2023, the order management software market is growing in leaps and bounds. A must-have business tool, order management software can handle all aspects of the order, right from the initial acceptance to the final shipment delivery.

With order management software, companies can streamline their supply chain management and develop multi-channel sales operations. There are plenty of options available in the market, and choosing the right order management software may seem overwhelming. Considering this, we have curated a list of the top order management software vendors by company size.

1. Order Management Software Comparison for Enterprise

As your company grows, it becomes imperative to invest in an order management solution that is scalable and facilitates automation. An enterprise must invest in the best order management software that focuses on seamless integration and operational flexibility. Some of our top picks for large enterprises include Zoho Inventory, Veeqo, and Unicommerce.

	Zoho Inventory	Veeqo	Unicommerce
Free Trial	14 Day	14 Day	Not Specify
Mobile App	YES	YES	YES
Cloud-Based	YES	YES	YES
Basic Price	$59/Month	$156/Month	$100/Month
Multiple Payment Gateways	YES	YES	YES
Inventory Management	YES	YES	YES
Customer Management	YES	YES	YES
Multichannel Sales	YES	YES	NO
Customization	YES	NO	YES
Order History Management	YES	YES	YES

2. Order Management Software Comparison for Medium-Sized Businesses

Medium-scale enterprises need order management software to keep rising costs in control and allow them to expand operations. Such businesses should consider cloud-based platforms that are high on scalability and offer top-notch functionality at affordable prices. Some of the best options are Orderhive, ecomdash, and Inflow-Inventory.

	Orderhive	ecomdash	inFlow Inventory
Free Trial	15 Day	15 Day	14 day
Mobile App	YES	YES	YES
Cloud-Based	YES	YES	YES
Basic Price	$49.99/Month	$25/Month	$71/Month
Multiple Payment Gateways	YES	YES	YES
Inventory Management	YES	YES	YES
Customer Management	YES	YES	YES
Multichannel Sales	YES	YES	NO
Customization	YES	YES	NO
Order History Management	YES	YES	YES

3. Order Management Software Comparison for Small Businesses

Startups and small businesses need to invest in robust order management systems that automate repetitive tasks to reduce time, money, and effort. Smaller firms need to choose order management software that can scale up to match organizational requirements in the future. Some popular order management solutions for small businesses include Salesorder.com, Multiorders, and Vin eRetail WMS.

	Saleorder	Multiorders	Vin eRetail WMS
Free Trial	30 Days	14 Days	Not Specify
Mobile App	YES	YES	YES
Cloud-Based	YES	YES	YES
Basic Price	$199	$49	Contact Vendor
Multiple Payment Gateways	YES	NO	YES
Inventory Management	YES	YES	YES
Customer Management	YES	YES	YES
Multichannel Sales	YES	YES	NO
Customization	YES	NO	NO
Order History Management	YES	YES	YES

Types of Order Management Software

Depending on your type of order, the order management software is designed differently.

1. Simple Transactional Order:

   A simple order management approach is taken when a business deals in only one type of product or service and treats all sales as unconnected one-off transactions. These are purely transactional as such solutions do not consider the context of other products and services being bought simultaneously.

2. Contextual Order:

   When a customer evaluates and digitally purchases multiple products or services, contextual order is introduced. In such cases, the order management solution ensures incorrect combinations are not sold. Plus, it takes care of the order process — from order capture to delivered products and optimized services.

3. Configure-to-Order:

   The configure-to-order concept means the products or services are created and sold from a predefined existing set of components. The customers can choose whatever combinations of products they want, but only from the available range. It allows for customization to suit customers' needs and shortens the delivery time by selecting only available stock. In such cases, the order management system must deal with the sophistication of the interdependencies that combine different products and services.

4. Make-to-Stock:

   All the goods are produced in advance and stored in inventory either in warehouses or stores. The customers are allowed to order by selecting any product from the stock. Those products are then delivered to the customer. In such cases, the order management system should focus more on inventory and logistics to provide a great customer experience using customer experience software.

5. Build-to-Order:

   Build-to-Order is similar to Configure-to-Order, with just a slight difference. The customer constructs their order from a predefined list of products and services in a configure-to-order approach. Whereas, in build-to-order, there are some products, if not all, that need to be produced following the sale. Build-To-Order management solution is predominantly used where volumes are low, but costs are high, or there is a high level of customization.

6. Engineer-to-Order:

   Engineer-To-Order product or service is unique — the new components of the product or service are produced to meet the customer's requirements. It is designed as part of the sales process, and thus, it is the slowest to fulfill. Such an order approach is used for large construction projects such as airports. In such cases, the order management solution first takes care of the design, as the price change often happens from an initial estimation placed with the first order.

   It is essential to choose the best Order Management Software per your business requirements to obtain better growth and streamline all your business processes. This is because only the best Order Management Software will help you take your business to the next level regarding successful orders, business efficiency, and revenue!!