Small online stores face many challenges in their efforts to compete with major retailers, and nowhere can the gap be more apparent than in order processing. Far too many businesses have lost customers due to a slow shipping process or a failure in restocking inventory–simple mistakes that could easily be avoided with a quality order processing system.With the right order processing system in place, you can avoid these and other common pitfalls, while also creating a more streamlined solution for your customers. The following tips will help you get the most out of your order processing system so you can deliver fast results and compete with larger companies.
1. Inventory Tracking
A quality order processing system will help you keep customers happy by automatically tracking inventory levels for your products. By allowing you to see how much stock is currently available for order, as well as whether there are incoming shipments or items that are already committed to a particular order, you can more effectively manage your warehouse item levels. With a quick glance at your inventory tracking, you’ll know when you need to order more stock, ensuring that you’ll always have what your customers want.
2. Sales Tracking
Nothing is more important than your customers’ orders. When you use sales tracking software, you can ensure that orders are fulfilled quickly and accurately. With sales tracking tools on-hand, you can create an invoice and prepare to ship an order shortly after a customer makes a purchase. Sales tracking allows you to improve your customer service, which in turn will generate positive reviews and word of mouth that will grow your business.
3. Purchase Tracking
As important as it is to accurately track purchases made by your customers, it is also essential that you effectively track the purchases you make to restock inventory or obtain other needed supplies. As you use an order processing system to track bills and email vendors, you can maintain better control of your budget, ensuring that your small business has the funding it needs to stay profitable.
4. Use an Integrated System
As useful as the above features may be, a key element of a faster order processing system is using software that integrates all three into a unified, interconnected platform. When inventory, sales, and purchase information is all stored in the same database, you can more easily identify manage your inventory while keeping your budget in check. Even more importantly, you can avoid lost time, data input mistakes, and other issues that commonly arise when using multiple pieces of software to manage your small business applications.
5. Push Notifications
For even better results, many modern order processing systems enable you to use push notifications so you can always stay up to date on any inventory or sales actions that should be taken. For example, a notification indicating that you need to order more of a particular product for your store could make all the difference in ensuring that you always have adequate stock on hand. Push notifications allow you to take immediate action and avoid costly delays.
Customized reporting features allow you to quickly analyze your business’s strengths and weaknesses. For example, by analyzing which products are generating the most revenue, you can adjust your inventory purchases to increase profitability. A closer look at which channels are generating the most sales (as well as who is buying your products) could allow you tweak your marketing strategy. With customized reporting in place, you can recognize the need for change–and implement those changes–more quickly. This in turn will allow you to achieve higher sales and faster growth for your company, while also improving service.