Enterprise resource planning or ERP integrates the different processes required to run a business and increases efficiency and productivity within a business through the use of various tools and features.
An enterprise resource planning system can include features like financial management, production management, and order management. While a cloud ERP system can be used in different industries, for instance, apparel, healthcare, energy, and media, they can also be customized to suit different business types.
Ecommerce businesses can thus benefit greatly from technology like cloud ERP as well as customer relationship management or CRM software. These tools target the unique requirements of an eCommerce business and take into account the needs of the business so that they can easily improve the efficiency and productivity of the company.
One of the main reasons an eCommerce business should consider using an enterprise resource planning software is because it can future-proof the eCommerce business. This means that a business is prepared for the future with the right technology and processes.
While forecasting is a key element in sales and marketing, no one can predict exactly how markets, economies, distributors, and industries will perform in the coming months or years. However, a business can invest in the right technology to ensure that they have the capacity and resources to face the future, regardless of what it holds.
When preparing for the future, it is important that the business understands that there is no one way in which the future can unfold. Understanding that the challenges and changes the business will face in the future can fit within a wide range means that the business can ensure it is flexible, agile, and able to evolve quickly.
Preparing for the future is especially important to eCommerce businesses as they can face a significant amount of uncertainty. A cloud ERP system, however, can help an eCommerce business future-proof itself.
Pricing is a major component of a customer’s online shopping experience and includes product pricing, discounts, shipping and delivery, sales tax, customer loyalty rewards, and bulk pricing. Preparing this price structure for goods or services becomes complex as the eCommerce business grows and expands and manual processes or half-integrated digital processes can make this task extremely time-consuming.
A cloud ERP can store all pricing data and integrate it with third-party apps as well as your e-commerce platform to increase efficiency and accuracy.
Processing eCommerce orders leaves room for human error, both from the customer’s end as well as the side of the eCommerce business. A customer may contact customer support to ask that an order is changed slightly after it has been placed and the eCommerce business can make mistakes when transferring order details from one system to another.
Digital tools and technology and reduce the room for human error and a customer relationship management tool or an enterprise resource planning software can be of great use in this regard.
Whether it is a cloud CRM solution or a cloud ERP system, security is one of the key features of these tools. Since these technologies store sensitive information about the eCommerce store and its customers, developers ensure security is given priority while also complying with industry-specific regulations.
The protection afforded by an ERP system is extremely useful, especially in the future, with the threat of cyberattacks faced by eCommerce platforms increasing. It is thus recommended that an eCommerce business uses a cloud ERP system if it is to future-proof itself, especially in terms of security and privacy.
As mentioned above, future-proofing an eCommerce business means preparing for whatever changes the future may hold. These changes can cover customer purchase patterns, industry trends, and the economy.
An eCommerce platform will thus have to plan stock data, pricing, product listing, and shipping and returns policies to suit various market changes. This is possible with an enterprise resource planning software, which encourages scalability and growth while also taking into account the organization’s unique requirements through customization and personalization.
As a business grows, business processes and functions become more complex and this goes beyond product pricing and listing. However, an eCommerce business may not have the capacity to adapt to complex systems despite being able to expand.
This why ERP systems keep things simple regardless of the size of the business and this is another way in which an ERP system is vital to future-proofing an eCommerce business.