Are you a new business in the field of B2B e-commerce?
Or are you having trouble managing bulk orders?
It’s difficult to find a suitable B2B order management software because there’s simply tons of software options in the market.
Do not worry! Eximias is here to help you figure these problems out.
Let’s dive in.
What Is an Order Management System (OMS)?
Order management system (OMS) is the type of software that can help you automatically manage the order’s lifecycle With the ability to integrate multi-functions into a single system from fulfilling customer orders, inventory management, shipping tracking, etc. The OMS system allows the in-charge department to track the customer order from beginning to end accurately.
The emergence of an order management system has made many businesses’ supply chain development processes more convenient, especially for many companies. When trading in B2B, the number of goods, transportation, and storage will be very difficult without the support of the software.
B2B Order Management Software Defined
The definition of B2B order management software is similar to B2C order management but has some differences. The most significant difference between B2B and B2C is that the customer is not a person anymore; now, the customer are businesses.
Additionally, it doesn’t stop with changes in the number of orders, how it is stored, shipped, and even how the system is run. B2B order management software allows a business to coordinate the entire fulfillment process — from order collection, inventory, and delivery visibility to service availability.
As part of order management, you may need to monitor and handle returns, exchanges, and refunds, as well. Ordering in bulk and ahead of time is typically more efficient for firms since they often don’t have to keep making purchases for further orders.
Accuracy is critical when it comes to B2B order management software. A company’s compliance requirements may include tax standards, product limits, SKU numbers, package labels, bar codes, or a particular invoicing system, among other factors.
Due to the size and volume of the orders, shipping costs and delivery times may increase. If you want to send your goods across the world by sea or air, you’ll need to learn about international trade obstacles, including taxes, tariffs, and subsidies.
Your B2B order management software should be delivered quickly and reliably by a 3PL if you use one. Fulfillment firms are expected to reduce costs and improve efficiency by working with other organizations. As a result, they have a significant impact on the capacity to achieve deadlines.
To give a comprehensive picture about the importance of B2B order management software to businesses, let’s move to some challenges that businesses must handle during the trading period in the next section.
What Are Challenges for B2B Businesses in Order Management?
The B2B order management is a complex routing procedure. It requires precision in each stage from the beginning to the moment the product or service reaches the hands of the customer business. Ensuring the correct, sufficient, and timely implementation is extremely necessary to ensure the credibility and quality of the supplier.
Delays and mismanagement in any part of the process can harm the reputation of the provider business and the recipient business. It may lead both companies to get penalty fees and losses in terms of refunds and chargebacks.
Here are some challenges that B2B businesses may face:
- Order Categorization
Order classification is fundamental in order management to ensure order processing and avoid delays. In addition, this is a must-have element in the management process to ensure the process of pushing orders and transporting goods to customers.
- Transport System Management
Once the order has been placed, the seller will pack and confirm the necessary information such as delivery time, time the customer receives the goods, etc., then hand it back to the shipping partner.
During the shipping process, the seller also needs to track the order’s status to ensure that the customer’s order is not overworked or lost.
- Manage Returns
When the goods are delivered to the customer, there will be cases of returning goods and refusing to receive goods for different reasons such as defective goods and wrong samples.
At that time, business owners need to be quick and precise in managing the exchange and return process to handle problems more efficiently.
- Inventory Management
Inventory is an essential factor that affects your ability to generate orders or make sales during the fulfillment process. Therefore, you must check and manage orders regularly and accurately using an inventory management system to ensure that stock deviation does not occur.
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How B2B Order Management Software Can Help Your Business?
In the significant development of B2B e-commerce, bulk order is a big problem for many businesses, especially with the new ones. B2B order management software solution was born as a great tool to solve a series of challenges that businesses face. Here are four benefits that this software brings to companies.
- B2b Order Management System Can Assist You to Manage Multi-channel
Using a B2B order management software helps you to more rapidly and effectively implement cross-platform sales tactics. This software can assist with inventories, provide customer confirmations, enter and save orders to the database, and schedule shipments, among other tasks
Managing orders is a lot of work, especially if you’re utilizing several sales platforms. This is just a nightmare to go through! A B2B order management software will take care of everything for you, depending on your preferences, and it will do the same across several channels at the same time.
- Cloud Technology Give You More Capacity and Security Storage Space
Cloud Technology is an integral part of modern order management systems. They allow users to store and deliver documents to departments and partners much faster and more conveniently than traditional papers.
According to the latest statistics of Techjury, now more than 70% of businesses have applied cloud storage technology in business management and operation. This not only brings a benefit to the environment, but also saves a huge amount of money for printing at the enterprise.
- Data Can Synchronize in All Company’s Channels
Data synchronization across all channels of the OMS system will help businesses manage orders more conveniently. Plus, with the application of advanced technology and a centralized data warehouse, it becomes simpler to update orders for both suppliers and customers. All information is updated in real-time, ensuring greater accuracy and providing peace of mind for both parties.
Specifically for supplier businesses, the multi-channel data synchronization will help the sales team and warehouse management quickly know how the inventory is, ready to supply large quantities for new orders and what they need to do to serve the next business.
For businesses, customers also know whether their orders are prepared or not; or products are in production or shipping period to formulate a plan for the consumption of goods. Essentially, when both parties have the necessary information accurately and up-to-date, it will be easier to deal with unexpected situations to reduce unnecessary damage.
- Easily to Meet the Customer’s Needs
Whether B2B or B2C, understanding the needs of customers is an indispensable element in business. The crucial thing in B2B business is to create long-term partners. And B2B order management software that enables you to personalize your order metrics might just satisfy client requests and requirements.
You may also tailor the order to meet the individual needs of every B2B business. This will help you stand out from the crowd and convince clients to put their faith in your company’s order management system over the competitors.
8 Common Questions about B2B Order Management Software
- What functions do I need in B2B order management software?
This is one of the common questions when businesses start to grow and look for a B2B order management software that can optimize workflow. To have the correct answer for the right software and features, companies need to identify the business’s needs and the unique characteristics of the industry you are providing to the market or the company’s current working process.
It is so important to prioritize the main features that can help your business workflow. You do not want to spend too much time and money updating and changing the system’s features continuously.
If this is difficult for you, you can contact consultants to help you find the best solution for this problem.
- Is it true that B2B order management software can scale up with every developing stage of business?
In the beginning, you may customize an order management system in a specific method to fit your current needs. Nevertheless, as your company expands, your order management needs will grow as well—you may begin to employ more connectors, increase the number of users, expand your warehouses, or even demand new functionality from your system.
So, you must choose a system that can grow with your organization. When looking for an order management system, please consider the size of your present firm and the pace at which it is expanding.
- Is B2B order management software user-friendly?
It won’t be easy to answer this question because each business will still have to test and learn the software interface. Only when you study and use the previous test versions will you accurately assess whether the software interface is user-friendly.
However, B2B order management software providers always try their best to optimize the User Interface (UI) and User Experience (UX) to give the best experience to their customers. So, do not be overwhelmed by this much.
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- Do I need to have an IT team to install this system?
B2B order management software might differ greatly in their ease of implementation. System complexity is often related to how many features are requested.
The B2B order management software provider may be able to assist you in setting up your system if you feel that you need some assistance in doing so. In order to meet the specialized requirements of a big company, systems designed for that industry may need considerable coding and customization.
As a result, the provider is not only assist your business in the initial installation, but the maintenance and support policies of many software businesses can last from 6 months to several years. So, this will make you more secure when investing a large amount of money in the B2B order management software.
- Can I integrate this B2B order management software with the other systems I use?
B2B order management software is not the only software applied inside the system of each business. In many cases, companies have used different software to manage and perform other sales, accounting, or inventory management tasks.
And all the pre-installed software in the machine is not capable of synchronizing and transferring data back and forth. It is difficult to have an exact answer as to whether it can be integrated into other software, but the answer is still capable of integrating into existing software.
However, businesses should note that there will be certain costs related to the copyright of software products installed in the system. In addition, companies can also contact software solution businesses like Eximias.
They will develop software that integrates the features that companies need into a specific B2B order management software. Subsequently, increasing operational efficiency and reducing operating costs. Be sure to get in touch with us immediately to receive special offers for businesses.
- How much does B2B order management software cost?
The cost of an order management system depends on the price plan that you choose. The features you want, the speed of the system, and the size of your organization all play a role in this. From free to hundreds of dollars per month, order management solutions are available for cloud system.
Set a budget that you can afford, taking into consideration the present size of your firm and the pace at which it is expanding. This will assist you in determining which order management systems are within your pricing point.
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- Does the software provider offer any support?
Since your order management system is supposed to help reduce the amount of manual work you’re putting in, it defeats the purpose if you end up still having a lot of work to do.
That is why it’s important that you consider the amount of support your system offers. Most service providers include some support, but the number of hours or tickets you can use depends on the package you choose. Try comparing support plans to help you find an order management system that offers the most support.
- Why do I have to use free-trial or demo version?
Free-trial or demo version is the best way to know whether the B2B order management suits your business or not. Just spend at least a week or a couple days to use some basic functions before you make a big investment for B2B order management.
However, free-trial and demo versions both limited functions or time. If you want to access more additional features or a little bit of period time, you have to pay for that.
Additionally, there are three types of free-trial or demo version for B2B order management, including free-project system, freemium, free-trial options. Every single type will have their own pros and cons, so you have to read the terms and conditions beforehand.
Because nothing is entirely “free”, the fact is the free or trial versions will force you to leave some payment information to get your money if you are out of free-trial period time.
B2B order management software is a worthy investment for any business because of the great benefits it brings from order management, inventory management to customer and partner management, etc. In addition, this is a useful tool that makes the digital transformation of businesses easy and fast, thereby optimizing work and enhancing efficiency.
Hopefully, the article has given you useful information about order management software. If you have any questions about this, do not hesitate to tell us.
Eximias has many years of experience working with partners worldwide, we always listen to the needs and difficulties of each partner to develop the most suitable and optimal software products for your work. If you are looking for a B2B order management solution, feel free to contact us to get expert advice and develop business-specific software.
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