An online business also needs a lot of manpower to manage work like manufacturing, accounting, reporting, CRM, HR etc. and managing all this work manually will definitely result in inaccuracy, increase in errors and costs. So, to save all the involvements, errors different powerful tools are available and ERP is one of them. Using ERP software solution, you can manage inventory, accounting, reporting, sales, etc. This will help you to save cost with accuracy.
Let’s discuss all this in detail!
What is ERP in Ecommerce?
ERP (enterprise resource planning) system is a software that helps you to manage all eCommerce processes like finance, marketing, inventory, orders, delivery, stock procurement, distribution and forecasting processes, and shipping. It is the centre for all sales channels. You can manage all sales channels like Point of Sales, Retail Sales, Wholesale sales, etc.
To manage the high number of e-commerce sales it is important to integrate the ERP system at a centre point. Like you can integrate Amazon, eBay, Magento sales to your Odoo e-commerce and this help to manage your sales at the centre hub with API integrations. This type of integration can solve listed numerous problems associated with your online business
- Improving data accuracy
- Reducing duplication errors
- Increasing speed
- Streamlining processes
- Eliminating need for manual entries
Benefits of Integrating eCommerce with ERP
An ERP software solution helps to streamline and integrate operations, processes and information flow in an enterprise in a unified system.
- Reduces Data Redundancy, Human Involvement, and Error
An ERP platform removes repetitive processes and reduces manually entering of information which helps to improve user productivity by eliminating the possibility of inaccurate data. ERP makes work easier and more efficient.
- Reduces Operation Costs
ERP solutions help to be smart with finances and avoid costly mistakes. ERP software with accurate, real-time information reduces administrative and operations costs. It allows manufacturers to manage operations, prevents delays, breaks up information and helps users to make quick decisions.
- Increases Internal Productivity
ERP solutions help to increase collaboration between departments. Being all data is centralized and consistent, so different departments can work together, sharing information and collaborating whenever it is needed. Real-time information and use data are always available and accurate.
ERP easy to understand reporting tools include customizable dashboards, Gantt charts, pie charts, bar graphs and other visual representations, allow to restrict user access to reports, protecting valuable company information. It provides detailed reports including traceability, errors, inconsistency and hence helps to target business’s weaknesses to ensure stronger performance.
- Increases Customer Satisfaction
Provides high-quality customer service. They can interact with customers better and improve relationships with faster, accurate access to customers’ information and history. Additional features like searching for leads to move through the sales pipeline, social media monitoring and email campaigning, which allows to track the status of campaigns.
- Reduces Inventory Cost
By using the manufacturing tool of ERP you can estimate the raw material used for the production and forecasting of the stock become easy which ultimately help to manage raw material requirement, manufactured good number and in stock and out of stock products. This will avoid material wastage and hence reduces inventory cost.
- Generates Financial Reports in ERP
ERP software makes reporting easier and customizable, to meet all your needs. With improved reporting capabilities, you can respond to complex data requests and hence improves productivity and makes the process faster. Users access to reports save time by removing the dependency on other team members.
- Regulatory Compliance
Powerful ERP platforms are designed to keep track of regulations and monitor changes in compliance so allow users to stay updated with laws, regulations, guidelines and specifications
- Flexible Systems
ERP software platforms are robust, flexible, and configurable. ERP software can adapt to the changes according to business needs and requirements.
- Customer Relationship Management
Customer relationship management (CRM) software is beneficial for the companies with a large customer base and helps to increase efficiency by centralising customer information CRM handles marketing automation like create campaigns, sales pipeline activities and lead management, can design and implement comprehensive customer care solutions.
ERP contains strong accounting tools by improving accuracy and processing time. ERP systems help to manage accounts payable, accounts receivable, fixed asset management, risk management and tax management. It helps to manage multiple currencies and tax regulations, manage sales and revenue for your business. ERP system allows you to automate accounting functions like payments processing, sales analysis, expense management, tax management.
- Tracking and Visibility
ERP solutions provide comprehensive visibility. Example supply chain visibility. Many ERP systems like Odoo ERP make it easy to track raw material as well as finished products to be delivered. Helps to understand and foresee issues like delays and out of stock products. You can also track information like sales, production statistics, productivity, inventory and more. CRM tools used to track sales, HR module to track productivity, Accounting to track finances, inventory to track stock and manufacturing to track production.
- Data Reliability
Reliable data can be accessed from different locations. ERP improves data accuracy and consistency with its ability to update data at real-time. ERP ensure user data security through firewalls and built-in protection resources.
Start-ups/new entrepreneurs/E-commerce owners Hope you found it helpful. If you need more help, Contact Us for an exploratory session about applications and websites built by us and strategies followed by us to build different applications and to know how you can link ERP with your eCommerce. We’ve helped over 100+ brands to successfully build their apps and we’ll be happy to do the same for you.