Business Management Software for SMB eCommerce- Key Features and Advantages

Business Management Software

Gone are the days when eCommerce business was a domain for business giants. Now with small and medium business enterprises entering into eCommerce every day, there are tools and software solutions that assist them in smooth functioning.

Running an eCommerce business can be both overwhelming and daunting at the same time. Problems such as shipping errors, poor inventory management, and data entry errors are enough to pull your hair out. And it gets worse when you have to manage manual interfaces to delegate information across different systems.

What if you had an automated system where all the operations worked in sync with little or no human intervention needed? That would seem very effective, wouldn’t it?

Enter all-in-one business management smb software, and now you don’t have to worry about any of those problems.

So, what does this business management software do? Is it worth the investment? Will it help you scale your eCommerce business in the long term?

The answer is Yes. In this blog, I’ll explain why.

What is SMB Software?

SMB Software

An all-in-one SMB software helps streamline data across various functional aspects of an eCommerce business like procurement, inventory, accounting, customer relations, production, and distribution.

With all-in-one business management solutions, you don’t have to switch between different tools, saving you time and money without productivity pitfalls. In short, you get a one-stop-shop to monitor all your business processes. But this is just a glimpse. Let’s have a broader look into the benefits these software solutions offer.

Benefits of Using Business Management Software for eCommerce

Benefits of Using BMS

If you want to avoid spending hours on tedious, repetitive tasks like email replies, data entry, and logistics, you must use a fully integrated system. Its benefits are enough to relax your Mondays and Tuesdays for important stuff like ideations and collaborations. I’ve outlined all the benefits in detail below. Let’s take a look:

1. Centralized, Automated Workflow

A full-integrated, synchronized data stream across customer relations, inventory, catalogs, sales quotations, and accounting provides you a bird’s eye view of all business operations in one place.

Single-purpose solutions are typically built by multiple teams, resulting in poor coordination and increased customer complaints. Besides, you’re prone to technical slip-ups which imply more missed business opportunities. So, the more you miss out, the higher the risk of losing your business.

On the other hand, an all-in-one system provides a hassle-free experience both to your employees and customers. Imagine the ease when you don’t have to wait for your employee to turn in data reports, no shipping errors, and more time to personalize the customer experience. Such a centralized workflow is what makes an all-in-one solution the go-to option.

2. Better Accounting System

You must have heard the jargon, “Let’s integrate our business with APIs.”

Sounds like a walk in the park. It is, to some extent, when you’re starting. But as you scale, things start to crumble:

  1. You need more cash to handle your staff
  2. You need technical expertise to link internal systems such as inventory, catalogs, etc. 
  3. Your accounting models get broader, which means more book-keeping, which is not cheap.

Many people think an all-in-one solution would cost more as it handles everything, but it’s just the opposite. It’s cheaper because it prevents data duplications, maintains a constant flow of data, and keeps your finances up-to-date. Plus, no need to worry about staff running back and forth between orders and finances.

3. Improved Customer Relationships

According to a PwC survey, 1 in 3 customers will leave the brand they love after one bad experience.

What causes a bad customer experience? It could be poor follow-ups, shipping errors, or complex checkout processes.

With a built-in CRM system, a fully integrated business system helps you avoid these errors and offer a better customer experience. For instance, you can —

  1. Accelerate customer interaction as other business operations are automated.
  2. Access important buyer’s journey insights. Knowing your customers’ interests, purchases, preferences, and more will help you tailor your products, marketing, and services to meet their needs.
  3. Keep track of cross-selling and up-selling through visual analytics

Overall, CRM-enabled Business Management Software helps you get a unified view of your customers and make better business decisions.

4. Customized Catalog Management

According to a study, 30% of online products are returned due to poor product catalogs – low-quality descriptions, images, and categorization.

Catalogs play an important role in buying decisions. And when you compromise on catalog quality, not only the customer suffers but the supply chain suffers too. That’s why businesses must establish a monitoring system to run quality checks on catalogs whenever required.

That’s where complete integration comes in. You can –  

  1. Manage product data quality without errors.
  2. Create a centralized repository of enterprise data to streamline brand collaborations
  3. Provide customers with a comprehensive list of choices in an easy-to-navigate catalog.

5. Real-time Inventory Level Management

Why do you need inventory management?

To know what you have in the warehouse, how much it is, and where. Imagine if there was any discrepancy in the inventory data, such as irregular distribution or inaccurate stock insights. Yes, the whole supply chain would collapse.

Your solution – an integrated inventory management system. What you get – 

  1. No sudden “Out of Stock” popups and wastage
  2. Fewer labor costs as you’d not need a manual accounting system. 
  3. Accurate financial reporting with real-time data

6. Efficient Sales Quotation Management

A standalone quote management system often falls victim to processing and downloading errors.

You need a system that generates quotes at the drop of a hat. In short, the entire prospecting pipeline must be smoother where your executives can process replies and proposals through quotations quickly.

With an integrated Quotation management system, you can improve the customer and staff experience in the following ways:

  1. No delays or inaccuracies in quote processing
  2. Better customer satisfaction due to faster communication
  3. Properly segmented custom quotes, all in one place
  4. Easy Access to customer data leads to improved customer satisfaction.

7. Solid eProcurement System

Did you think eProcurement wasn’t cut out for small businesses? Then you are mistaken.

eProcurement is procurement simplified. It automates the procurement process in the cloud and creates an online workflow from purchase-order (PO) generation, approval, finance to vendor authorization.

With eProcurement, you can maintain a transparent line of communication between employees, customers, suppliers, and stakeholders, anywhere, anytime, across all connected devices.

eProcurement is a package that suits all businesses regardless of size or type. Let’s examine what you can do with an integrated eProcurement system– 

  1. Eliminate paperwork, reduce turnaround times on the PO system, and allow approvers to authorize anywhere, anytime, on any device.
  2. You get a repository of information that stores all purchase reports, transaction history, vendor information, supplier contracts, banking details, and so much more.
  3. Monitor budgets, track spending per vendor, generate real-time purchase reports and cut supplier frauds.

8. An Integrated eCommerce Software

The face of retail is changing at a rate that no one could have predicted a few years ago. For retail, digital is no longer a frontier, it is today’s business imperative.

As global internet buyers increase, businesses are shifting from brick-and-mortar stores to eCommerce stores. There are 12 million – 24 million eCommerce sites currently in operation, with new ones being created every day. 

So, you’re trying to decide whether your business model suits eCommerce or not and still have questions. Perhaps these integrated eCommerce benefits will help make the final call:

  1. Slashes down labor and administration cost by reducing duplications and reworks
  2. It allows customers to track order statuses through the eCommerce platform itself, rather than going to the logistics company’s website.
  3. You get an integrated Content Management System (CMS) that helps you deliver personalized content to your customers.
  4. 93% of customers research products on mobile devices. An integrated eCommerce solution provides a streamlined experience to mobile shoppers worldwide.
  5. Increases dwell time on the website, thereby stimulating further purchases

9. Streamlined ERP Software

The purpose of enterprise resource planning, or ERP software smb, is to optimize business processes so they are fast, accessible, and well organized, thereby increasing productivity.

The only problem is not all software speaks the same language. Having multiple applications with different web services, data structures, and databases can cause redundancy and inconsistencies in the data processing.

That’s where ERP integration solutions come in. An integrated ERP software helps you 

  1. Build high-volume pipelines and translate information automatically between your critical business systems.
  2. Connect your systems, simplify data access throughout your company, and virtually eliminate any manual data entry, reducing human data errors.
  3. Save a great deal of time and money, allowing you to focus on quality controls and customer experience.

Choosing The Right Business Management Software Solution – Top Feature to Look Out For

Business Management Software Solution

Now that you know why you need an all-in-one software solution let’s understand how to choose the right one for your eCommerce business.

Whether on-premises, cloud-hosted, or software as a service, businesses of every size need to take advantage of the efficiency and power provided by a Business Management Software Solution.

To help you navigate this critical Decision, here’s a quick list of 5 features you should look for in business management software and why each and everyone is crucial to your operation:

1. Robust Accounting and Financing Features

Company-wide control and integration of accounts information drive strategic decision-making. 

A multi-purpose business management software must have transparent accounting and financing features to help you store and track financial data and benefit from advanced financial analysis and management.

2. Human Resource Management Features

To stay competitive, an eCommerce business must invest in its people. A modern business management system should provide essential HR administrative tools that leverage employee data in new ways to build a stronger workforce. These tools should manage:

  1. Payroll and benefits
  2. Training and development strategies
  3. Performance management
  4. Screening and Recruitment process

3. Sales And Marketing

The integration of business management modules linking sales to product data and inventory information in real-time is crucial to creating a powerful revenue engine.

The right all-in-one software lets you automate workflows, such as sales inquiries, quotations, sales orders, invoices, and order placement. This speeds up the sales process, thereby creating a scalable venture.

4. Customer Relationship Management

While often thought of as a standalone application, CRM is now best integrated into your larger business strategy.

The perfect integrated CRM and Business Management System provides total customer visibility by combining front-end touchpoints with critical back-end knowledge. This modern mash-up of data delivers a high-definition view of customers and prospects, generating substantial business benefits.

5. Smooth User Experience

With so many operations under one umbrella, it’s natural to overlook the most important feature of an integrated solution – User Interface.

Your business software does everything, but it shouldn’t confuse your employers and customers. It’s counterproductive if they need extra time to figure out the software’s navigation controls.

Smooth user interfaces improve readability and task management, giving users a hassle experience. After all, first impressions matter!

It’s Time To Ditch The Traditional

At their core, every organization faces the fundamental challenges of growth and change. Modern all-in-one systems are now leading the way toward a digital transformation that every business must pass through to stay competitive.

And what’s exciting with all-in-one solutions is that you get all the business systems “talking” to one another like in a house. Having all operations in sync lets you work on brand-building strategies like content marketing, visual storytelling, testimonials, and much more. Brand personalization gives your consumers a reason to engage with your brand frequently.

Not only is it a one-stop shop for your eCommerce business operations but also a framework for future decisions.
So, no head-scratching anymore. It’s time to move away from single-purpose solutions and give your business the boost it deserves with an all-in-one system!

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