Saying that online shopping is one of the best products of technology and advancements won’t be an exaggeration. Look at the high degree of convenience it brings.
Need a dress but don’t have time? Order online from your favorite stores. Feel like baking a cake but are not in the mood to make a grocery run? A few taps on the screen, and you have everything you need to bake that cake. Want to get rid of that stress? Just tap your mobile device, shop your heart out, and don’t let the stress take over you.
The rise of eCommerce has made lives easy, not only for the consumers but also for the retailers. While running an eCommerce business does have its challenges, online stores are super convenient to manage compared to managing and maintaining brick-and-mortar stores. However, sometimes even the most powerful eCommerce stores begin to struggle when the business begins to grow.
Are you stuck in a similar situation? The solution is simple, and its eCommerce ERP integration.
The Buzzword: ERPs
The corporate sector is under the strong influence of technology. Companies are integrating state-of-the-art tech solutions to find a competitive edge in a market that’s close to saturation. One of the smartest tools companies are leveraging for growth and expansion is the Enterprise Resource Planning software, popularly known as ERPs.
Furthermore, given the benefits that businesses enjoy today with this technology, irrespective of their nature, scale, or industry, ERPs have become the buzzword. The question is, why are these becoming so popular, and how eCommerce ERP integration is going to assist online store owners?
For starters, ERP serves as a comprehensive solution. ERPs help manage all operations; finance, accounts, inventory, logistics, procurement, supply chain, distribution, and many others. It allows businesses to streamline the end-to-end internal operations while strategizing for growth expansion.
Today, some of the most popular ERPs include Oracle NetSuite, Microsoft Dynamics, and SAP.
B2B eCommerce ERP Integration: The Amplified Power
eCommerce is all-powerful when it comes to retail. Consumers, who have experienced the convenience of shopping online, find it hard to return to traditional ways. Similarly, retailers who have transitioned into the digital retail realm are convinced to invest heavily in their online stores. However, at some point, these retailers will need to up their game to support their online store’s expansion.
This is where B2B eCommerce ERP integration comes into play.
To simply state, integration of ERP and eCommerce is merging an online store’s front-end with an ERP. in this modern age, integrating these two powerful technology components can help retailers enjoy the highest peaks of success.
- Functionality improvement: business owners benefit from both real-time data of the store and back-end eCommerce data.
- Reduced inventory cost: better and efficient fulfillment of orders with up-to-date information about sales and inventory.
- Transparency of financial operations: by combining the financial reports on sales by eCommerce applications and ERP generated Balance Sheet, P/L Statement, Trial Balance, and Cash Flow; online stores achieve transparency in financial operations.
- Boosted Productivity: with the elimination of manual and tedious tasks, the load on the employees is reduced, and they can focus on more important areas. This gives a productivity boost to the company.
Starting with the Integration
The benefits alone are enough to convince a growing online store to consider an option for eCommerce ERP integration.
Are you ready to proceed? Here is how you can start with this integration.
Stage 1: Planning
The basics of succeeding in anything one aims to do in the world are planning and strategizing. Without a proper plan in line, it is nearly impossible to get the desired results. Integrating your eCommerce website and ERP involves a lot of challenges, and only a strong strategy will lead you to favorable outcomes. The developers and storefront management team need to sit together to plan the entire process so that they can steer clear of unnecessary hurdles.
The things that must come under consideration during this phase include
- Mapping out all eCommerce processes
- Spotting data that requires complete accuracy and timely updating
- Identifying manual and tedious tasks
- Calculation of ROI for the integration process
Stage 2: Picking the ERP Integration Solution
There are three options when it comes to choosing an ERP integration solution. These include using point-to-point connectors, customized ERP integration, and a multi-channel management platform.
Point-to-Point Connectors: this is for companies looking for affordable solutions. Here the eCommerce channel is pointed at the ERP. This helps synchronize the sales data.
Custom integration: this type requires companies to work on custom integration between the sales channels and back-end systems using application program interfaces (APIs).
Multi-channel Management Platform: this is the most highly recommended method for eCommerce ERP integration. Companies can set up a cloud-based operational hub between the eCommerce store and the ERP with this technique.
These two stages are critical during the initial phase of the integration. Make sure you develop a thorough plan that aligns with your company’s requirements.
Signs that You Need to Proceed
You are now well aware of the benefits that come your way when you proceed with the B2B eCommerce ERP integration. However, the skepticism might make it difficult for you when you fail to see the many ways your business is struggling to expand and grow. As a smart retailer, you need to consider the bigger picture and address the problem before it turns into a crisis.
Here are some signs that will help you identify the need to opt for this integration.
- Overworked employees
- Increase in manual tasks
- Inefficient order fulfillment
- Declining quality of customer service
- Inability to track financial records
- Low productivity due to increasing workload
If you find any of these signs in your company, take the wise approach and go ahead with eCommerce ERP integration. To proceed with this, choosing Oracle NetSuite is the smartest decision. You can partner up with Folio3, a certified Oracle NetSuite Alliance Partner. The company excels in everything NetSuite and will help you with the eCommerce ERP integration without any hassle!