In this blog you will find:
- How the world industry is adapting to ERP and E-commerce Integration
- If ERP integration with an E-commerce website or store is of necessity
- What does a business face while selling products on their e-store without an ERP software integrated.
- How ERP can optimize your existing methods
- How ERP allows you to explore new business horizons
- What should you look for in an ERP software
- Guidance for Large B2B companies while ERP integration
- Guidance for ERP integration of SMBs and Startups
- Where do we come in picture?
- Modules of an ideal ERP software
- How to select an ERP solution provider
- Which E-commerce platforms do we integrate with
- Key Takeaways…
Enterprise Resource Planning or ERP is a business process management software that helps SMBs, large organizations, and startups, using a system of integrated applications to upsell products online.
“According to ERP Software Market 2018 Global Trends The ERP software market across the globe is expected to reap $47 billion in revenue from 2017 to 2022 at a CAGR of 7%.”
ERPs handle data across various verticals such as technology, accounting & finance, human resources, services, and manufacturing & distribution, no wonder they remain the strongest types of business application along with CRM for 53% of the businesses that consider ERP as their priority investments .
Is An ERP Integration with Your E-commerce Website Necessary?
Does your E-commerce manage to exceed deadlines or budgets but not your customer’s expectations? Trust us, you are not alone, managing multiple systems, managing inventory, storage allocation, logistics along with customer feedback can be an arduous and draining job, not to mention laden with human-errors.
These are the drawbacks of not integrating your E-commerce channels with ERP software.
What are the main problems businesses face while running an E-commerce store without an ERP Integration?
- For an E-Commerce Store to run well you need an accurate data, only that will give you better business returns. Without ERP integration there will be no centralized data infrastructure therefore creating a disconnected network of modules. Data will not be accessed by all modules as it is supposed to be.
- Non integration of this software most commonly creates data errors, as there is going to be human involvement. The more human interference the more cases of data duplicacy and data redundancy.
- Decreased rate of customer satisfaction. It will be difficult for customers to receive updates of their purchases like order processing, shipping details, date of delivery etc. that is needed to give them a standard e-commerce shopping experience.
- Lack of inventory management. The ERP system will connect your inventory and update the stocks to your E-commerce front end. Without ERP integration ‘out of stock’ situations may arise when the stock is still in the warehouse. The otherwise can also happen.
- No transparency. Integration helps help you in generating a financial report from your website on sales. Without ERP integration the financial transparency across the enterprise is very less.
- These problems will result in more overheads, along with decreased efficiency in your eCommerce storefront.
Optimizing the Existing Methods and Drawbacks of Manual Processes
Syspro ERP integration with your E-commerce website inevitably helps your business grow exponentially in many ways. ERP consists of interconnected modules, allowing you to manage different kinds of data across multiple departments within a centralized system. These kinds of data include:
- Orders placed
- Inventory in Storage
- Customer reviews, feedback
- Shipping and Tracking
- Returns and Replacements
These are all now inter-communicated between your once independent systems promoting efficiency, transparency, and accuracy by streamlining and fast-tracking the process — reducing manual intervention to the least.
It’s a pain to update product information in Excel then uploading to your online store or Amazon, hand-keying sales orders into your ERP, decimating inventory across systems by hand, or not being able to do it all.
When these processes aren’t automated, it is only obvious to blunder. Shipping addresses can be entered wrong. Incorrect inventory levels could affect your orders, Incomplete, incorrect, or missing product information is also plainly harmful.
Thus, not optimizing existing processes can ultimately, these issues may not only cause you to oversell or undersell your products but also risk you a host of irate customers.
Explore New Ways to Upscale Business Online
In addition to optimizing WaveSoft ERP integration with Ecommerce can give business owners deep insights allowing you to discover new ways to optimize business performance.
In a review conducted by the Aberdeen Group, an intent-based marketing conglomerate based in Massachusetts showed, small businesses experienced a 36% reduction in the time it takes to make decisions because of ERP software.
Furthermore, Everest ERP Integration can help businesses cut waste and develop more cost-effective practices. ERP reduces operational costs by 23% and Administration Costs by 22%. (Aberdeen Group)
According to TEC, Manufacturers are the No. 1 buyers and users of ERP systems.
At this point, ERP software is essential for business success, especially for manufacturers, who are the top buyers and users of ERP. Supply chains are becoming more complex, and customer expectations are higher than ever.
According to Aberdeen Group, ERP systems increase on-time deliveries by 24% and customer happiness rates by 100%.
All in all, ERP integration can aid you with a holistic view of all E-commerce business processes and tracking of your KPIs allowing you to save time and resources, that can be used to upscale business strategies and explore new horizons.
What Should You Look for in an ERP Software?
Choosing the best ERP software depends on what your business ideals are, having said that the following are must-have features in your ERP software:
1. Centralized Database Architecture
The core architecture of our ERP software is designed with a centralized database. This modular design makes the functioning of different modules fast while keeping a check on the data duplicity.
2. Mobile Friendly-ness
In this age, more and more businesses are using multiple devices for their business. An ERP dashboard should be mobile friendly and allow everyone access, on the go. Consider a salesperson who can’t access key customer data on the road, but is instead tied to a desktop to get access to any customer data, is this viable?
This means that the software consists of several modules that are independent of each other and can be deployed at their own place. Modularity helps in easy installation, update, and alteration of individual modules without hindering the working of other modules or the overall interface.
4. Reduces Overheads
When ERP integration is done, it increases efficiency and reduces IT-related expenses. These expenses include management/administration costs, support, infrastructure needs, and staff salary. Together, these expenses and the inefficiencies in the handling of the vital company information can lead to huge unproductive overheads.
A customizable software should allow you to customize the features in each of its modules. Making the system in accordance to your business needs.
What Should You Expect From A Bi-directional E-commerce ERP Integration?
Managing all the E-commerce sales channels from order to fulfillment requires a smart E-commerce strategy, smart data management, comprehensive features and cutting-edge technology that only comes with ERP software.
Here are the key benefits of integrating your E-commerce store with an ERP software
|Key Benefits of ERP with E-commerce Integration|
|1||Keeps manual interaction to the minimum to save time and increase output, reduces errors, while entering orders, inventory, item, customer and shipping data|
|2||Streamlines inventory synchronization, track updates, and provide accurate inventory levels to customers, without hiring staff to manage these tasks|
|3||Automatically notifies customers when orders have been shipped and allow them to track the delivery of products|
|4||Simplifies how you manage price and product changes to inventory|
|5||Is flexible enough to add multiple online (web stores and marketplaces) and offline (brick & mortar) sales channels, without losing operational efficiency|
|6||Meets tax requirements with automated tax compliance and eliminate exposure|
|7||Handles increased demand in online orders without extra resources|
Points Large B2B Companies Should Keep In Mind While Choosing an ERP software
It is common knowledge that B2B models are different from B2C models, and the two will need different types of ERP systems to run efficiently. Below are the 3 different functions of a B2B ERP for large organizations. Always see for them to find an ERP software for your B2B organization.
Since B2B businesses need to sell to other businesses on specific terms and conditions, rather than at a fixed point of sale, thus there needs to be strong accounting functions.
You should be able to keep track of your day-sales for instance, the outstanding amount keeping track of what is still owed. You should be a general ledger function that suffices all your excel sheet needs and beyond.
2. Supply Chain Management
As mentioned in the blog earlier Supply Chain Management companies are the #1 users and buyers of ERP software. A B2B ERP needs to help these companies plan their inventory and future demand. It should do this using real-time insights from sales orders and historical data. In other words, your ERP software should tell you what exactly needs to be ordered, or made, so that you are not overproducing or under producing and keeping your sales game top-notch.
3. Supporting Documents
Unlike B2C sales, generally, there are a lot of important documents that need to be filled out and also tracked in B2B sales. For instance, freight invoices, purchase orders, credit applications and so forth. A B2B ERP can keep a record of these documents for you and automate the processes that are needed to fill them out in a standardized way. Furthermore, it is helpful in creating transparency when important documents are required during an audit.
Points Small B2B Companies Should Keep in Mind While Choosing an ERP Software
The functioning of an SMB or a start-up is different than that of a large organization or a conglomerate. Keeping this in mind, here are the points we have listed you should keep in mind if your E-commerce falls under Small or Medium business type or is a start up.
Customer Relationship Management
Brick and mortar industries have to take extra care when it comes to customers, since they are still developing their brand and setting a loyal customer-base. An ERP Software increases customer relationships by managing interactions with leads, customers and visitors — giving them great after sales support and allowing them information on their online purchases.
A good ERP allows you with traditional HR services with new E-commerce strategic activities. Increasing and optimizing the business.
A business needs to understand the science of management. ERP keeps track of inventory, orders, returns, etc. It also allows you to sync the warehouse and front end e-commerce data for you to not undersell or oversell any products.
You should find an ERP Software that integrates all your existing business applications like CRM, inventory management, accounting, etc..to create one potent online selling platform.
You grow from your mistakes, as a new business you should optimize smartly and for that you need to know where you are lacking in your E-selling Business. A good ERP software gets the reports and analytic for you to keep track of KPIs and ensure smooth functioning of your e-commerce website or store.
The Reasons That Keep Businesses From E-commerce Integration
Well, the most common reason businesses have an aversion to this technology are the same reasons they have an aversion to any new technologies is the fear of disruption it may cause to the existing organizational management.
We can understand, as these are not any minor issues.
But, there is a difference between perceived danger and actual danger. When it comes to ERP integration sure it may cost you some greens, but what is better than investing in your business that too in a service that guarantees increased ROIs.
Steve Jobs in his early days, said in an interview that disruption is needed to grow, only when you poke something, something else comes out — you can watch this interview here , classic Steve Jobs dispensing wisdom.
So What Are Your Options?
i-Verve has been providing enterprise ERP solutions to businesses since many years now. The reason we have a 100% customer retention rate is because we go beyond ERP — we provide CRM, along with Magento ERP integration solutions to help our customers improve processes from their furthest warehouse to their customer’s door. From start to finish, our software experts work with you to optimize your E-commerce business performance.
Read on to know more…
How to Improve Magento Website Performance
Improve conversion rate of Magento eCommerce Store
What All Modules should an ideal ERP software include?
An ideal ERP software should first of all include the ability to give businesses customizable ERP solutions according to their business needs. Ideally an ERP software should include the following modules:
- CRM and CRM Nomad
- Business management
- Point of sale
- Banking links
- Financial state
- Transfer machine
With which Ecommerce Platforms Do We Integrate?
Our E-commerce veterans have years of experience in developing all sorts of integration for all leading E-commerce platforms.
We at i-Verve you to integrate your eCommerce Magento, Shopify, and the following other platforms with our ERP software:
- Magento ERP Integration
- Shopify ERP Integration
- osCommerce ERP Integration
- BigCommerce ERP Integration
- Zen Cart ERP Integration
- nopCommerce ERP Integration
- eCommerce ERP integration
- WooCommerce ERP integration
- Prestashop ERP integration
- Drupal ERP integration
The most rewarding E-commerce strategy according to major businesses around the globe is one where there is a bidirectional ERP integration with the E-commerce store or website.
Integrating your website with ERP is going to be the wisest investment for your company you will make. When it comes to selling online you must make sure that both technologies – E-commerce platform and ERP software are properly integrated so that you get the best ROI from both the ends.
i-Verve has been providing Ecommerce ERP Implementation Services for around a decade now. We are among the top ERP solution providing companies in the US and have worked with hundreds of E-commerce business.