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ERP software quite a quintessential tool for e-commerce companies. ERP in E-Commerce: Benefits, Challenges & Strategies to Follow In 2021
We are living in an era where every work that we desire to perform demands mechanization and digitalization. Enterprise Resource Planning (ERP) as we name it is very much a basis of that procedure. And with almost every company requiring to handle numerous departments in their businesses jointly, the significance of ERP of an organization to be made revamped with the advanced technology has become so crucial. So this is the motive that even the market share of ERP software is surging every year.
1) Boosted Business Reporting:
• Better reporting tools with real-time data
• A single citation of truth – one integrated database for all business procedures
2) Enhanced customer service:
• Better access to customer data
• Rapid response times
• Enhanced on-time delivery
• Superior order accuracy
3) Enhanced Inventory costs :
• Only carry as much inventory as required, prevent these common issues
• Too much inventory, and higher overhead expenses
• Insufficient inventory, and lengthier customer fulfillment times
4) Boosted Cash Flow:
• Better invoicing and promising collections tools to bring cash in rapidly
• Faster cash suggests more cash on hand for the company
5) Cost Savings :
• Superior inventory planning
• Enhanced procurement management
• Enhanced customer service
• Enhanced vendor relationship management
6) Better Data & Cloud Security:
• Dedicated safety resources
• Avoid installing malicious and ransomware software
• Data distributed across numerous servers
7) Business Process Improvements:
• Automate manual or routine tasks
• Execute smarter workflows
• Gain efficiency
8) Supply Chain Management:
• Beneficial demand forecasting and lean inventory
• Decrease production bottlenecks
• Transparency throughout the business
9) Enhanced Customer Management
• Storing customer data in one database decreases the amount of data entry errors
10) Barcode scanning integration for obtaining inventory and picking orders decreases the number of shipping mistakes and RMAs
• eCommerce integration assures customers only to discover inventory that is available in stock thus enhancing their online shopping experience.
Many companies certainly overlook the notion of integrating ERP with e-commerce merely due to the expenditure factor inflicted by too many adaptations required to be achieved in the current system. But when they list out its advantages looking at the bigger image, almost everyone understands the worthiness of this integration without putting forward any questions about its expenses ever again. So how does it help after successfully incorporating ERP with e-commerce? Well, here is a list of all the crucial benefits of it:
· Give support to organize data of the existing clients, products, sales, accounts, inventory, shipping, etc.
· Better visibility of sales and demand decreasing the inventory expenditure.
· Inform the clients about the whereabouts of their shipment
· Provide better customer, sales & account reports.
· Streamlines the comprehensive procedure of sales from website to delivery
· Decreases the human involvement, redundancy & error from manual entry
· Enhances the productivity of the full team
· Automated tax compliance to satisfy the tax requirement
· Enables single portal product delivery tracking for clients.
· Last but not least, stimulates the profits & revenues by enabling users to manage numerous online & offline channels of sales.
1) ERP implementation challenges
The quality assurance team who are accountable for the testing must test the integration of the ERP system with the online store before it is launched up live. It is very crucial to comprehend the whole procedure and to make sure the data processed in the function are detailed. Once the ERP in E-commerce is successfully integrated & tested, then all the details of every single transaction will be automatically be revised.
And now after the integration procedure is conducted, it brings its bundle of challenges. We know nowadays the software solutions are so progressive that people with below-average technological understanding are bound to suffer from system adaptation or technological challenges.
• More ostensibly these challenges primarily occur from the people utilizing them. And there are 2 such major challenges, those are:
• The system adaptation procedure of the new solution & the new manner in which the business process would be executed.
• Having to make 2 independent teams to coordinate & function as a single unit to get the task to be done, thus maintaining the highest level of standards within the provided deadline.
• For the second challenge to withstand, you need to comprehend the fact that to get the best output from the integrated ERP solution for the clients, one would require to make sure both the team is functioning with the common objective in mind. They need to have an identical way of getting things done, by setting all their eyes on a similar objective for the organization. When the members can stay on the exact page following a similar methodology, only then the challenges from the execution side can be deliberately but gradually overcome.
On the different hand, to overcome the first challenge, you will need to create a training facility for your company workers to comprehend the new ERP solution functioning. You have to be patient and give your staff enough time to get used to the fresh way of working after the integration between ERP & E-Commerce. Only then this modern integration can ascertain to be effective for the company in the longer duration. As we all understand new solution could get your company optimized opening the door for more new likelihoods immediately.
Also, enduring the challenges better depends on how well you have strategized the whole procedure of executing ERP in E-Commerce. This brings us to our next section blog discussion.
Technology naturally becomes more adaptable over time. So once you get used to the ERP technology executed, your work becomes much simpler to operate & manage. For all incorporated solutions, there is a distinct implementation procedure and strategies that must be pursued to get a promising result. This is not varied for ERP & E-commerce integration. So thus to make a reasonable integration between the 2 platforms, the following ERP implementation methodology and strategies could be contemplated.
The entire enterprise is expected to have coordinated operations due to the integration of ERP & E-commerce. organizations must look to expand the existing business prototype, move out from the conventional mode of work. Also, they should modify their staffing and enhance restructuring.
Also, to serve any business better, the constant development of e-commerce is expected as any modification in the business model is bound to have a substantial influence on the entire e-commerce structure setup.
A moral loop is formed between ERP and e-commerce solutions with such reconstruction of organizations and more considerably, this facilitates a standardized development of both sides, as well as the sound growth of the company.
For minor companies, this implemented ERP solution is quite a cheap alternative. To keep the data sync and have an exchange of data, the unit of e-commerce of your company is assigned at your ERP in a point-to-point connector.
This works as a simplification of the management procedure and any additional effort required into management in between the system eradicates the data that is functioning as a ‘middleman’
In terms of maintaining minor business operations, this can be considered enough for any company that is having slow and steady sales. But in case your enterprise is facing extreme expansion and you can predict additional sales extent immediately then it is better to select an ERP solution that can be scaled up along with your business without requiring you to reconfigure every time you agree to make the expansion of the business.
To accomplish the aspects of these 2 ( ERP and E-Commerce ) integration, in the case of ERP, preferences should be provided to modules like accounts, sales, marketing, inventory, procurement, and production strategy that are approximately linked to cash flow capital and logistics of the company.
While in the case of e-commerce, the application software module preferences should be provided to modules of customer relationships management, resource management, website maintenance & management, online purchasing & sales management, and lastly online payment management. Thus a new application system should set with the integration of the 2 modules.
Even though it might be extra time-consuming and costly, but if your backend needs a special approach then custom E-commerce-ERP integration might just be the kind of execution you require. Say, in the backend of your system, various API-based applications are required to be integrated separately to maintain a seamless cycle of data " to and fro " from the enterprise’s data hub. This can only be a nice alternative if your company operates like no other, otherwise, there is no point in wasting further time and budgets behind it, even a systematic procedure can still do an incredible job for you.
For a standard category of E-commerce-ERP integration, this implementation alternative is most favorable as from multiple channels, it gives a hub between the system and synchronizes the data. For both setups, the cloud-based multichannel management platforms award with the best of their affordability as well as the influential probability of facilitating your business operation.
There is even a possibility that a mistake is waiting for it to occur when there is a dearth of automation for system integration. To enable your business to thrive for future expansion, you are required to adopt a strategy of e-commerce that stands as it is today as well as for the future. The ERP integrations with e-commerce can you enjoy reasonable data integrity, repetitions, and sinkholes of productivity removal, have productive developing growth of the company, and offers better customer support assistance which can ultimately enhance brand loyalty keeping the sales of your business at its all-time peak.
All through the blog, we have tried to talk and highlight the main idea of implementing ERP in E-commerce. But with globalization in the market among many enterprises and industries, it became ever so crucial to look for an extensive ERP solution to stay ahead of the market opponents that give them a significant lead from others.
For many corporations, this can only be accomplished through the proper usage of ERP. And every traditional ERP management calls for a desirable ERP solution. So, thus, the right implementation of ERP in E-commerce can moreover be achieved by utilizing a credible ERP solution, and in this regard, a comprehensive business management software like Tritan ERP can be your life redeemer.
For any company to operate smoothly, be it e-commerce or any other form of trade in which you require to manage every department from HR management to Customer Management and inventory management to accounts management. And so this is when Tritan ERP can be your all-in-one ERP solution as it seamlessly incorporates with your company’s human resource, customer relationship, inventory, accounts, marketing, and sales.