Omnichannel Order Management System Using Magento
Written by Pranita Navrekar
Business Analyst at Royal Cyber
With businesses focusing largely on improving customer offerings, providing them with ‘what they want when they want, and wherever they want it’, customers are empowered. In order to create a positive experience throughout their purchase journey, it is important that a customer should be able to order, pickup, or return a product from anywhere they want. And this is possible with a perfect Order Management experience, which is efficient, flexible, and will keep up with the business needs to meet the expectations of a smart customer.
Magento Order Management System (OMS) enables its customers with key features such as Distributed Order Management, Global Inventory Management, Omnichannel Fulfillment, and Customer Service. In this article, we focus on Omnichannel Magento OMS. But before we dive deep into what Magento has to offer with its Omnichannel features, let us understand what an OMS is and what is the need for one.
An Order Management System is necessary for your e-commerce to track sales, orders, inventory, and fulfillment. For an e-commerce business, it is not easy to manage its sales channels and fulfill customer needs. Hence an effective OMS is necessary to manage orders from all sales channels.
It is necessary to have a system that shows a series of actions between customers and OMS while placing an order.
As per the Forrester Research, “Omnichannel commerce is the coordination of traditional channels (marketing, selling and fulfillment) and supporting systems to create a seamless and consistent customer experience.”
Magento Order Management System provides you with a flexible solution for selling, managing, and fulfilling inventory, helping to increase sales. With an omnichannel shopping approach, customers can interact with you via various screens, channels, and technologies. Retailers can offer customer appropriate product suggestions based on their search history and known preferences. With Omnichannel functionalities, customers do not have to repeat themselves across different service channels such as social networks, forums/message boards, live chat, etc. This helps in overcoming poor customer service experiences.
Connecting Commerce with Extensive Omnichannel Order Management Features of Magento
Single view of customers and real-time inventory
- Create a single store for orders, inventory, and fulfillment
- Provide your customer support team with a single customer view that has combined database
- Understand customer shopping pattern based on their wish list and search history and provide them incentives and offers
- Modify customer information, such as shipping address, from a central repository in order to avoid redundancy of information
- Easier to generate returns and automated refunds
Sourcing Item with Flexible Fulfilment
- Efficiently source item(s) from the best location across channels to increase the deliverability and order fulfillment
- Provide customers with a variety of omnichannel fulfillment options such as drop-ship, backorders, and ‘buy online, pick up in-store’ (BOPIS)
Support Growth and Expansion in Business
- Reduce your cost of ownership, access and manage everything from a single integrated OMS
- With a singular view of Omnichannel, add new business ideas to generate tangible expansion, and overcome market differences with competitors.
- Integrate all brands across multiple sites, stores, and fulfillment centers
Some businesses aim to stay small, allowing their customers to use their e-commerce platform to place and manage orders. But this does not favor their business growth, because it does not offer seamless processes for order organization, shipping, order status, and even refunds. An e-commerce site should have an appropriate OMS that has multiple sales channels, fulfillment centers from different warehouses, and different order placing points (marketplaces, website & mobile apps, etc.).
Benefits of an Efficient OMS
- Less manual work to process sales orders by expediting manual processes and increasing automation
- Order accuracy is very important, and OMS will send order information to the right channel and ensure that it is addressed appropriately and tracked
- OMS will provide an actionable report of different products with its gross sale, profit margin, and stock availability
- OMS will enable accurate business reports to ensure better business ideas
- Customers will be able to easily track order status
Now it has reached a point where retailers must address customer's preferred shopping habits and their expectations. If the customer demands are not met, a retailer will not be able to attract new customers and might lose loyal customers.
Magento Order Management System has a thorough understanding of customer preferences and abilities to deliver the product efficiently and profitably. It provides a seamless shopping experience with inventory management and not just shipping costs or on-time delivery. And this fluid system is smoother, with an Omnichannel experience.
Although retailers, over recent years, have been addressing the growing number of ways in which customers can buy products, not all reach up to the benchmark of customer satisfaction. Time is an important deciding factor for an online customer. In fact, more than 70% of shoppers will seek a product elsewhere rather waiting for backorders; but approximately 87% of customers will wait more than two days to avail free shipping.
At Royal Cyber, we have provided online retailers business resizing from small to large, with the Omnichannel Magento Order Management approach. We have used the data collected to employ business intelligence practices to improve retailer’s business processes. As an IT Solution provider, our expert team understands the customer requirements and analyses system requirements as well. For more information, you can email us at [email protected] or visit www.royalcyber.com
