This blog offers crucial insights on essential ERP features that E-Commerce businesses can leverage to seek growth and revenue. These features not only will give them an edge over the competitors but will also boost efficiency.
Enterprise Resource planning is quite an essential tool for e-commerce organizations to leverage benefits and features in specific ways. As it can help businesses increase productivity, make operations efficient, and deliver consumer satisfaction, the ERP could bring both growth and revenue. The ERP software also helps streamline and align various departments like- Accounts, Supply Chain, Inventory, Sales, CRM, etc. by offering extensive ability and efficiency to minimize costs while smoothly ensuring business operations. To remain competitive in the market, it becomes crucial for businesses to seek features that help gain holistic control and reporting related to the business processes and environment.
Why ERP For Ecommerce Development?
The ERP For Ecommerce Development helps integrate aspects of e-commerce and resource planning on a designated common platform to ensure that business processes go well across the organization. It synchronizes the data across different platforms, channels, and departments to enable reporting and tracking business processes. As a technology framework backs an E-Commerce platform, specific tasks and actions can be automated as per the business’s needs and requirements to boost efficiency. From inventory tracking to managing or processing orders, the ERP can handle all aspects of the E-Commerce platform.
10 Must-Have Features of ERP for Ecommerce Development
Here are some of the best features that ERP for Ecommerce Development should have to boost efficiency and productivity:
- Supply chain management– In the E-Commerce B2B or B2C segment, the ERP plays a crucial role as it provides real-time insight into orders, sales, historical business data, and future business forecasting. A good ERP software will always ensure that it meets the end demand of business and consumers. It makes the business activities or processes more smooth and reliable by ensuring efficiency and productivity in various ways. Supply chain management also helps create links between online and offline channels with clients and vendors/sellers to ensure that businesses can deliver value in the best way possible.
- Inventory or Product Management– Inventory Management ensures the products are adequately available to consumers. It gives a real-time record of products and stock availability for processing orders. It can help in different order fulfillment processes to ensure timely availability and delivery of products through various channels. It also provides information on various aspects of products such as images, ratings, vendor info, description, etc.
- Customer Relationship Management– The organization must ensure customer satisfaction to deliver trust and value to consumers. After-sales are a significant part of any business, and CRM provides the relationship between the organization and consumers through various aspects. It maintains the record of purchases, return orders, and addresses the customer’s concerns without failure. ERP integration with CRM for e-commerce business helps businesses provide exceptional support by promptly solving problems. It acts as a tool to ensure the best after-sales experience and might give enterprises crucial insight into customer needs and demands through data-points and reports.
- Sales Consolidation & Revenue Tracking– E-commerce might handle orders and payments from various channels and networks. The ERP offers the ease to track revenues and payments through multiple sources and provides consolidated data without any scope of error.
- Logistics Tracking– It keeps a real-time record of inventory, orders, shipment, delivery, exchange, etc. with exact details and information. It offers synchronization of data at various stages to ensure that logistics can be tracked well.
- Accounting Dashboard– The ERP software helps in reducing the workload of managing invoices and other financial aspects. The accounting dashboard can take care of administration costs, salaries, tax payments, credit payments, invoices, consumer payments, and other daily expenses. It can offer a comprehensive view of different financial aspects as per the date and time through innovative charts, figures, and data.
- Data analysis and Reporting – As a technology-backed system, the ERP can offer real-time data analysis and reporting related to the E-Commerce business’s different activities and operations. The businesses can also automate reminders, warning alerts for failures, report automation, etc. to facilitate quick decision-making in case of any issues or failures.
- Data Encryption & Security – Privacy and security are the two essential factors that need to be ensured by the E-commerce platform to gain customer trust and brand loyalty. The ERP software provides Data Encryption, so that company data and client information remain confidential.
- Sales, Discounts, Campaign & Performance Tracking – The E-commerce platforms operate in a competitive environment. A dedicated dashboard related to offers and pricing can help them control the flash sales, festive season offers, and discounts without any errors. It might also assist them with various data related to marketing campaigns to track performance.
- Automation of Processes – The ERP for Ecommerce Development offers the scope to automate crucial processes to save time and efficiently push order management. It can automate tasks like product audits, assigning delivery partners, checking vendor ratings, managing stocks, etc.
These 10 must-have features will help your business gain more efficiency and productivity to become competitive in the market.