An order management system (OMS) is an electronic system developed to execute orders in an efficient and profitable way. Brokers and distributors use OMS to fill various types of orders and track the progress of each one throughout the system.
Before the introduction of E-commerce, orders were processed by fax or direct mail. But the growth of online retailers required a unified system to streamline the entire process and handle more orders with less delay.
Customers began to look for fluidity between online, brick and mortar sales, and all intermediate channels, and a modern order management system (OMS) was born. However, many companies, especially small and medium ones, don’t know what OMS is doing, how it is benefiting the company and why it is essential to succeed in today's world. So, let's take a walk through the broad and concrete OMS definition.
What Is the Order Management System Really Doing?
OMS helps companies simplify order fulfillment processes across all supply chains. In other words, order processing, customer service, call center administration, inventory control, marketing and accounting, warehouse management are integrated into a single resource. With this level of integration, all heterogeneous systems are working together, creating a flexible and continuous system that helps you increase the number of sales and improve customer service.
For example, the Magora team can develop a convenient system to help you manage all the diversified purchase funnels. If you are offering such services as online shopping and in-store collection, with a bespoke OMS you can include a new process to your workflow to support inventory visibility between channels and order fulfillment. We will also help you integrate the live chart and call tracking in the system. Such a solution will help you to reduce the operators in your order-flow, dispense with extra laborious activities, reduce cost, increase the number of loyal clients, and provide them with a unified purchasing experience, as well as giving you the entire statistics of efficiency for each marketing channel.
Achieving a unique vision of demand, inventory and supply is one of the most problematic challenges for businesses and brings such advantages as:
- Transparent management accounting. Correct management and financial accounting will allow you to make the right decisions and monitor the business as a whole.
- Implementation of the control system that will allow you to exclude "black holes" where money may flow away.
- Single customer base. You will have a single customer base with all the necessary contact information.
- Quick distribution of tasks. Each order is easy to register, and the program will automatically offer you a free employee.
- Increase in productivity. The program will show you the most capable employees, those who delay orders, who are free, or how many orders have already accumulated in the queue.
The order management system not only increases efficiency and performance, but also provides a way to improve the customer experience:
- Centralised management. The order management system provides a centralised location to manage orders from all sales channels. Centralising this into a single system is very important to provide an excellent customer experience by meeting customer expectations regarding order status, scheduled shipment, purchase, fulfillment and return.
- Improved sales visibility. The order management system can improve sales, the visibility of orders, and reduce delays by providing a single view of demand, inventory and supply.
- Increased customer loyalty. An appropriate solution provides the basis for consistent and smooth execution for all customers, inventory, financial, and supply chain contacts that promote client satisfaction and long-term loyalty.
Using a unified view allows you to place all inventory in a position that can be sold on any channel. We can foster customer loyalty by providing customers with high-speed, accurate and integrated experiences, and improving the efficiency of operating costs.
Read more about how to increase your sales with OMS implementation.
Self-Service and After-Sales Support
Providing consistency between channels and creating a permanent relationship with customers never ends when the product is shipped. The customer requests information and assistance in real time, from the moment of dispatch to the final destination. The order management software provides the exact data required by the customer for the status of the order, and efficiently manages the return and exchange of products.
The ability to handle faults in the service or the product after placing an order rounds off the test of a true, premium service. Doing it well will lead to building brand loyalty, which brings clients back, and pays real dividends to your organisation over time.
Note: As epic changes continue to evolve beyond commercial landscapes, centralised order management systems are essential to provide a truly customer-centric global channel experience. We will help you reduce the buffer stock of supply chain as a whole, and respond quickly and efficiently to customer requests and market changes with the bespoke OMS development.
Creating Your Image
OMS is a comprehensive tool to reduce errors, latency and overheads associated with managing product flows. If you want to compete in digital commerce and brick and mortar environments, you must integrate an OMS to promote an uninterrupted supply chain across all channels - our experts are always ready to help you.