These days, every store owner stresses the necessity for ERP software everywhere. With it, they can monitor the tight margins and have faced great competition from the new retailers such as eCommerce and web stores. It is difficult to manage multi-stores with several employees, different pricing, constant moving stock, discounts, and loyalty rules for multiple products. Without the ERP, the store owner has to do it manually, which is just like a worst nightmare. So, merchants look for ERP software through which they can manage all their stores. So, to create your custom ERP software, contact the eCommerce website development company. The professionals will combine resource planning with eCommerce development on a single platform to ensure the business runs smoothly.
In this blog, we will discuss the features of the ERP required during eCommerce development.
Ultimate All-Important ERP Features for Ecommerce Development
We all know that how important ERP is important for an online store. So, here we will describe the features of the ERP required for the custom eCommerce development solutions to increase the productivity of the online store.
1. Supply Chain Management:
Do you know that ERP plays a vital role in the B2B and B2C segments of eCommerce? It provides real-time insight into orders, sales, future business forecasting, and old business data. The professionals always keep in mind that the software should suit the needs of consumers and businesses. Even it makes the business activities and processes become more reliable and smooth to ensure efficiency and productivity in a variety of ways. Supply chain management also helps in the creation of links between online and offline channels with clients and vendors/sellers to provide value in the most efficient manner possible.
2. Inventory Management:
Inventory management, often known as product management, ensures that products are available to customers. It keeps track of products and stock availability in real-time so that orders can be processed. In fact, it can assist in a variety of order fulfillment procedures, ensuring that things are available and delivered on time through numerous channels. It also includes various aspects of products, such as photos, ratings, vendor information, a description, and other details.
3. Customer Relationship Management (CRM):
The company must ensure customer satisfaction to provide trust and value to the consumers. No doubt, sales is an important part of any business, and CRM manages the relationship between the company and its customers in a variety of ways. In fact, it keeps track of transactions and returns and addresses consumer complaints without failure. Hire the experts of an eCommerce website development company to integrate ERP with CRM. Moreover, they will ensure the best after-sales experience and provide insights into the customer’s requirements and demands through data points.
4. Sales Consolidation & Revenue Tracking:
E-commerce may handle orders and payments from a variety of channels and networks, so revenue tracking and consolidation are important. The ERP makes it simple to track revenues and payments from various sources and gives consolidated data that is error-free.
5. Logistics Tracking:
It keeps a real-time record of inventories, orders, shipments, delivery, exchanges, and more with details and information. Also, it allows for data synchronization at various stages to guarantee that logistics are properly tracked.
6. Accounting Dashboard:
ERP software helps decrease the workload associated with invoice management and other financial issues. Administration costs, salaries, tax payments, credit payments, invoices, consumer payments, and other everyday expenses are managed by the accounting dashboard. With unique charts, figures, and statistics, it may provide a complete view of various financial factors as per the date and time.
7. Data analysis and reporting:
As a technology-based system, the ERP may provide real-time data analysis and reports on the many activities and operations of the E-Commerce business. Even businesses can set automated reminders, warning alerts for failures, and report automation to facilitate quick decision-making in any issue or failure.
8. Data Encryption & Security:
So, to gain customer trust and brand loyalty, the E-commerce platform must assure privacy and security. Indeed, Data encryption is provided by the ERP software, ensuring that company data and client information stay private.
9. Sales, discounts, campaigns, and performance tracking:
We know that every eCommerce platform works in a competitive environment. A dedicated dashboard for offers and pricing will help them keep track of flash sales, holiday specials, and discounts without making any mistakes. It could also help them track the performance of marketing efforts using diverse data.
10. Automation of Processes:
The ERP for Ecommerce Development provides the ability to automate critical processes in order to save time and manage orders more effectively. It can automate tasks like assigning the delivery partners, auditing the products, checking the vendor ratings, and managing the stocks.
Hence, we can conclude that one should engage with the best eCommerce website development company to create and integrate their online store with the ERP. Also, they can develop ERP software from scratch. The above points help you grow your business and be a part of the competitive market.
Read more: Magento vs WordPress: Which One is best for you?