Introduction
Multichannel selling is imperative for any business to thrive, especially in the current competitive market. The problem lies not with the concept (via various domains, including online advertising) but instead with its execution. However, with rapidly evolving digitization, all is not lost, as we can now automate the entire process. You must be wondering, ‘how can we do so, though? Well, continue perusing to find out!
The World of Cloud Computing
Cloud-based computing has been around for a while, yet its full potential is still yet to be harnessed & realized. With cloud computing, one can run an autonomous yet fully globally distributed & connected Order Management System. This system enables excellent connectivity but, more importantly, unparalleled responsiveness as time is of the essence nowadays; even seconds matter in the supply chain industry (retail or wholesale). Furthermore, there is greater stock accountability always to ensure better availability. These benefits are courtesy of trade order management software.
How does cloud-based order management software work?
Cloud-Based Order Management systems securely store inventories in online databases. They can also be integrated with other software, such as CRM (Customer Relationship Management) applications, for ultimate convenience. This ergonomic setup drives efficiency and accuracy and delivers a seamless experience for both the customer and the supplier. The end-to-end solution envisions one main principle: the ability to unify supply with demand. Once this is achieved, there is no stopping supply chain continuity. Items are added to an order, availability is verified in real-time, and this is aligned with the buyer’s location to create the quickest and most efficient route for delivery. Customer data is tracked, monitored, and fed into a supply chain management system to perform the rest. The result? A quicker, more precise & accountable delivery system. In other words – a supply chain leader’s paradise! This solution is also known as trade order management system software.
What other benefits does cloud-based order management software offer?
Considering that we are constantly dealing with dynamic data, such platforms serve to process such information with ease. Check out these other benefits of cloud-based order management software:
– Efficient fulfillment: data unification promotes enhanced accessibility & navigation of order details plus statuses
– Enhanced organization: updated information that is easily accessible reduces errors & promotes better (informed) financial decisions, minimizing wastage
– Improved tracking: now you can track orders anywhere with live feeds for last-mile connectivity
What are the results of such a revolutionary approach?
There are many promising signs that cloud-based order management is worthwhile and a sustainable solution here to stay. These are just some of the undeniable results that it brings to businesses:
- Reduced-order cycle times for uninterrupted continuity in supply chain management
- Lowered time to value: especially useful for emerging markets seeking greater share revenue
- Unveils the real-life challenges emerging markets face with service silos and addresses these
- Mitigation of last-mile hindrances, yielding unserved or underserved customer communities
- Standardizes system processes for increased universal compatibility across the board
- Efficient workflows to minimize the cost of standardizing processes via change management
TradeEdge – redefining order management
- Consider Edge Verve’s very own TradeEdge order management system software solution as a prime real-life example of this concept in action. Below are some of the features:
- Comprehensive Order-to cash, Inventory Management & Process to Receive protocol
- Manage stocks, brochures, discounts & pricing with versatile data management
- Ergonomic autonomous app service features that lower introductory costs & support needs
- The reduced requirement for field visits, saving fees by offering flexible pricing plans
- Advanced Analytics using their Market Pulse function
- Process efficiency with daily operational reports via dashboards, driving salesforce productivity
- Possess integration ability with external vendors & third-party systems
- Performance monitoring ensures manual order touches are almost eliminated!
Now revising & updating for newer releases has never been so straightforward! Now streamline & propel buying as well as selling via their cloud based plus customizable platform. This delivers nominally priced apps, associated with a centralized database for easier support services and better responsiveness to market requirements.
Future of Cloud-Based Order Management
The possibilities are infinite if you consider the potential of cloud-based order management in our global selling & distribution cum supply chains. The list continues, whether it is cargo to various goods, including food, cosmetics, appliances, or clothes, but the concept remains the same. A robust order management system that is connected from one corner of the world to the other – and still produces the required insights instantaneously. As web 3.0 becomes a reality, this will surely drive this further (at least, that is the expectation anyway!)
Conclusion
Multichannel selling heavily relies on one principle- the ability to procure & supply products and services aptly. By suitably, we mean at a speed that can also be scaled. The degree of this dependency being upheld often determines the success rate of any implemented strategy. Now when considering Cloud-Based Order Management systems, we soon realize just how imperative it is for any supply chain to know how much stock it holds & precisely where it all lies. Unifying this information will empower supply & demand cooperation, ensuring that both are kept coordinated.