Facts About Web Based End to End Order Processing
One of the most crucial systems in business is order processing. They must be reliable and efficient in order for a company to be successful. Without it, everything else could crumble to dust. Businesses will need to devote the resources to building an outstanding end-to-end order processing system.
In today’s world, having a web-based order processing system is just as important as a land-based one. This post is going to look at some of the facts surrounding these systems, helping you keep your business running smoothly and keeping customers happy.
Web-Based Order Processing Can Allow Prepayments
With the right system, offering prepayments for products or services are possible. This is a huge trend in today’s world. Just about every major product has an entire pre-order campaign attached to its release. Web-based order processing systems are capable of immediately recording an entry into the system, collecting the payment method, and then charging/shipping the product at the time of its release.
What happens is that an invoice is created for the pre-order. Then once the product is released, the income is recognized and processed.
Order processing systems have the ability to assign product-level entries to each order, allowing for the data to be stored in a more organized format. For example, when a customer places an order, you can link that order to the customer name, product, and payment method used. This information is valuable when developing future products/services because it saves this data into an easily retrievable format. If you want to know the types of products a specific type of customer buys from your business, then you could filter those orders specifically.
It’s Easy to Upsell and Cross-Sell to Customers
Upselling to customers is a sound business practice in most organizations. Provide customers with a more affordable, lesser version of a big product and then sell them on upgrading it. Better yet, sell them other related product or services. Upselling and cross-selling are both possible through certain order processing systems. In fact, customers can automatically be placed on an email list when they make a purchase. This is an extremely powerful tool.
This is probably the most powerful tool at your disposal, yet I see so many businesses fail to include a funnelling system in their web-based order processing system.
Allows Special Pricing
Promotions are one of the best ways to gain new customers. Order processing systems have the potential to allow for promotional codes to be applied automatically. You can even offer a specific product as a discount across the board and have that discount be applied automatically. For example, an online bookstore might decide to host a promotion for fantasy novels. Rather than having to put a new price on every entry, they could just tell their order processing system to discount all fantasy novels 25%. Furthermore, you could even put in special rules for repeat customers.
Automatically Include Shipping Costs
Most web-based order processing systems include an automatic shipping calculator that charged the appropriate amount for shipping and send the information to the appropriate personnel. In addition to the shipping address, there are some additional factors that affect shipping costs, all of which will be tagged to each product.
- Product Weight
- Total Overall Value of Products Ordered
- Total Number of Products Ordered
Finally, all order processing systems have the potential to automatically update product inventory. Both the number of products still being stored as well as their value can be tracked. Most companies just use a standard inventory value, meaning that they keep track of the number of products being stored.
Web-based order processing systems are game-changers, plain and simple