The Future of B2B Order Management – Insights from Fluent CommerceExplore how digital transformation revolutionizes B2B Order Management,
Jamie CairnsChief Strategy Officer at Fluent Commerce
Business stability has been under constant pressure in recent times due to the COVID-19 pandemic, the war and now high inflation. How can digital transformation help businesses become more resilient to external changes?
Digital transformation has become increasingly important for businesses looking to improve their resilience and agility in the face of external changes. One key area where digital transformation can have a significant impact is in Order Management and Inventory Management, where businesses can leverage software solutions to streamline operations, improve efficiency, and respond quickly to changing market conditions. Here are some ways these solutions can help you become more resilient through digital transformation:
- Automation and digitization: By automating manual processes and digitizing paper-based workflows, businesses can save time and reduce errors, allowing them to fulfill orders more quickly and accurately. This can help businesses respond more quickly to changes in demand, improve customer satisfaction, and reduce costs.
- Real-time visibility: Another key benefit of digital transformation in Order Management and Inventory Management is real-time visibility. By leveraging real-time data and analytics, businesses can gain greater visibility into their operations, allowing them to make better-informed decisions and respond more quickly to changes in demand. This can help businesses optimize inventory levels, reduce waste, and improve cash flow.
- Supply chain optimization: Digital transformation can also help businesses optimize their supply chain by providing real-time visibility into supplier performance. This can help businesses reduce lead times, improve supplier performance, and manage risks more effectively.
- Scalability: Another key benefit of digital transformation is scalability. Solutions that can easily scale to meet changing business needs, businesses can adapt quickly to changes in demand and expand their operations without incurring significant costs.
Lowering operational costs is always a business goal but becomes even more critical during economic downturns. How does order process automation help reduce expenses?
Order process automation can help reduce expenses in several ways:
- Labour Costs: Order process automation reduces the need for manual labour and streamlines the entire order process. It eliminates the need for data entry, paperwork, and other manual tasks. This reduces the number of employees required to handle orders, which in turn reduces labour costs.
- Error Reduction: Automated order processing systems can help to eliminate errors that might occur in manual order processing. This can save businesses money by reducing the need for additional staff to correct errors or rework orders.
- Faster Processing: Automated systems can process orders much faster than manual systems. This can help businesses to process more orders in less time, increasing productivity and reducing labour costs.
- Improved Accuracy: Automated systems can help to improve order accuracy by reducing errors that might occur during manual data entry. This can help to reduce the cost of returns, refunds, and other customer service issues.
- Reduced Paperwork: Order automation can reduce the need for paperwork, such as order forms, invoices, and receipts. This can save businesses money on printing and storage costs.
Order process automation can help businesses reduce costs by improving efficiency, reducing labour costs, and eliminating errors. By streamlining the entire order process, businesses can save time and money, and focus on growing their business.
Why are manual order processes no longer sufficient in the B2B world?
Manual order processes are no longer sufficient in the B2B world for several reasons:
- Time-consuming: Manual order processes are typically time-consuming, involving a lot of paperwork and manual data entry. This can result in delays in order processing and fulfillment, which can lead to dissatisfied customers.
- Error-prone: Manual order processes are often prone to errors, such as incorrect order quantities, pricing errors, and shipping errors. This can lead to additional costs for the business, such as returns and reshipments, as well as negatively impacting customer satisfaction.
- Inefficient: Manual order processes are generally less efficient than automated processes. They require a lot of manual labour, which can be slow and prone to errors. This can lead to increased costs for the business, such as labour costs and lost productivity.
- Lack of visibility: Manual order processes often lack visibility into the status of orders. This can make it difficult to track the progress of orders, identify bottlenecks, and make informed decisions.
- Inability to scale: Manual order processes can be difficult to scale as a business grows. They are reliant on manual labour, which can become increasingly difficult and costly as order volumes increase.
Automated order processing systems can help businesses to streamline their order processes, reduce costs, improve accuracy, and provide better customer service.
What are some of the growing demands of B2B customers regarding purchasing?
B2B customers have evolving demands when it comes to purchasing, including:
- Seamless online experience: B2B customers expect a seamless online experience, similar to what they experience when purchasing as a consumer. They want easy-to-use, intuitive online portals that allow them to quickly find and purchase the products they need.
- Personalization: B2B customers expect a personalized purchasing experience. This includes tailored product recommendations, personalized pricing, and a customized buying journey based on their needs and preferences.
- Mobile accessibility: B2B customers expect the ability to make purchases and manage their accounts from their mobile devices. This includes access to a mobile app or a mobile-responsive website that allows them to easily search for products, place orders, and track shipments.
- Fast delivery: B2B customers expect fast delivery times. They want their products delivered quickly and reliably, and they expect real-time visibility into their shipments so they can plan accordingly.
- Self-service options: B2B customers want self-service options that allow them to manage their accounts, place orders, and track shipments without having to contact customer service. They expect easy-to-use online portals that allow them to access information and complete tasks on their own.
- Transparency: B2B customers want transparency in pricing, inventory availability, and shipping times. They expect accurate, up-to-date information on product availability and delivery dates, so they can plan accordingly.
B2B customers are looking for a seamless, personalized, and convenient purchasing experience that meets their unique needs and preferences. They expect fast, reliable delivery, self-service options, and transparency in pricing and inventory availability. Meeting these demands can help businesses attract and retain B2B customers in a competitive marketplace.
How does automated order processing improve Inventory Management, tracking, and customer service?
Automated order processing can improve Inventory Management, tracking, and customer service in several ways:
- Inventory Management: Automated order processing systems can help businesses better manage their inventory by providing real-time visibility into inventory levels. This can help businesses make informed decisions about when to restock and how much inventory to keep on hand.
- Tracking: Automated order processing systems can also provide real-time tracking of orders, giving businesses visibility into where orders are in the fulfillment process. This can help businesses identify bottlenecks and improve order fulfillment times.
- Customer Service: Automated order processing systems can improve customer service by providing customers with accurate, real-time information about their orders. This includes order status updates, tracking information, and estimated delivery dates. This can help improve customer satisfaction and reduce the number of customer service inquiries related to order status.
Finally, why should customers choose Fluent Commerce for their Order Management platform?
Fluent Commerce is a cloud-based Order Management platform that helps businesses manage their orders across multiple sales channels and locations.
Some benefits of choosing Fluent Commerce for Order Management include:
- Flexibility: Fluent Commerce is designed to be flexible, with the ability to integrate with multiple sales channels and backend systems. This can help businesses manage orders across a variety of platforms and locations.
- Real-time visibility: Fluent Commerce provides real-time visibility into inventory levels and order status, giving businesses the ability to make informed decisions about order fulfillment and Inventory Management.
- Scalability: Fluent Commerce is designed to be scalable, with the ability to handle high volumes of orders and support growth as businesses expand.
- Automation: Fluent Commerce includes automation tools that can help businesses streamline their Order Management processes and reduce manual labour. This can improve efficiency and reduce errors.
- Customer service: Fluent Commerce includes customer service tools that can help businesses provide better service to their customers, such as order tracking, modifications and notifications.
Spryker is the leading composable commerce platform for enterprises with sophisticated business models to enable growth, innovation, and differentiation. Designed specifically for sophisticated transactional business, Spryker’s easy-to-use, headless, API-first model offers a best-of-breed approach that provides businesses the flexibility to adapt, scale, and quickly go to market while facilitating faster time-to-value throughout their digital transformation journey. As a global platform leader for B2B and B2C Enterprise Marketplaces, Thing Commerce, and Unified Commerce, Spryker has empowered 150+ global enterprise customers worldwide and is trusted by brands such as ALDI, Siemens, Hilti, and Ricoh. Spryker was recognized by Gartner® as a Visionary in the 2023 Magic Quadrant™ for Digital Commerce and was also ranked as a Strong Performer in The Forrester Wave™: B2B Commerce Solutions, Q2 2022. Spryker is a privately held technology company headquartered in Berlin and New York. Find out more at spryker.com