Over the last few years, the way companies manage sales and order fulfilment has changed drastically. According to a survey by IBM, most of the companies receive their B2B customer orders from conventional sales channels such as field reps, on the web, via an EDI connection or a call centre. However, in times to come, the preferred methods for order taking are subject to change because more companies now depend on their online stores for orders. Given the present circumstances, where online orders are flooding in, can you be dead certain to process B2B orders seamlessly, every time? Not really. But the good news is – You’re not alone! Innumerable online companies out there are facing similar challenges. In this blog, we have shed light on the most common B2B order processing challenges and how integrated eCommerce can help you overcome them.
1) Online shopping cart abandonment
Many a time, you must have observed that your customers visit your online store, search for and select the products they wish to purchase, and head towards the checkout window. However, just before they make the payment, they abandon their order. In March 2020, 88.05% of online shopping orders were abandoned. The automotive sector had the highest cart abandonment rate standing at a whopping 96.88%! So, you’re not alone facing this issue. Getting rid of abandoned carts completely is a utopian thought. You can surely bring down the numbers though. How? It’s easy! Just give your customers a smoother checkout process and multiple payment options. EGE, the integrated eCommerce solution created by i95Dev, reduces shopping cart abandonment by offering multiple payments & shipping options. It empowers customers with the choice of over 90 payment gateways and countless shipping options. EGE minimises order ageing by automating order movement from purchase to shipping, without manual intervention, thereby, keeping customers informed about their order and fulfilment status. The multi-Address checkout feature of EGE enhances customer experience by allowing them to ship items to multiple addresses from a single location. In addition, EGE’s auto payment capture feature processes more orders by automating the shipment process, payment capture and invoice generation.
An integral part of seamless, trouble-free order processing is ‘security’. Currently, cybercrime is soaring at an all-time high and it is expected that global cybercrime costs will grow by 15% every year over the next 5 years, reaching 10.5 trillion USD annually by 2025, up from 3 trillion USD in 2015. In such a scenario, it becomes really difficult to keep customer data safe and secure. In fact, it is horrifying for online companies, especially B2B, where long-term business partnerships are what keep the show running. Therefore, damaging your clients’ trust is simply not affordable. No wonder it is paramount that your online store software provider constantly offers enhanced security features, especially, if your online store is connected to your ERP. The integrated ecommerce solution, EGE, ensures a safe shopping experience since Magento is PA-DSS compliant and encrypts data, including all system communications with ERP systems, for secure transactions.
3) Constantly updating prices and managing product catalogue
Do you have a huge product catalogue that is difficult to manage? Are there items sensitive to fluctuations in price? Is updating prices manually everyday getting on your nerves? Don’t you worry; there is one simple solution – Integrated eCommerce! i95Dev’s integrated eCommerce solution seamlessly synchronizes all product and price information on a centralised dashboard for ease of access and uniformity. It helps you offer a seamless multi-channel shopping experience by centrally managing product information on a single system. EGE’s dynamic product catalogue feature helps you organise inventory by product groups, sorting options and other dynamic variables to better target customer segments by product types. In addition, the advanced layered navigation feature in EGE, facilitates the ease of finding the right product beyond traditional searches.
4) Supply chain complexity
Handling the complex supply chain issues is extremely troublesome and acts as a major bottleneck in B2B order processing. In fact, it has aggravated due the COVID-19 pandemic. An integrated eCommerce solution helps you centralize your orders and inventory data so that you are able to easily control your inventory across the globe. From the time an order first comes in, to picking, packing and shipping, you will be able to track these orders easily and comment on the current status of each one accurately. You’ll be able to do the same for all your own warehouse locations and stores, warehouses belonging to third-party logistics providers you might use, and marketplace fulfilment centres.
5) Processing multiple B2B orders at a faster rate
Increased online orders translate to higher number of orders to fulfil and deliver at a faster rate. It can put a strain on the entire B2B order processing system if your business processing system is not efficient and lacks speed. How to overcome this? Integrated eCommerce helps you streamline business processes and efficiently manage inventory with ERP integration. Not just this, it helps you avoid overselling and underselling by assisting you in optimizing inventory management, managing customer expectations via real-time notifications for out-of-stock products, and automatically raising requests for replenishment.
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