Cost and Features of Order Management Software Development

Small, medium, large or any kind of business gets orders for their services or products. Not long ago, servicing daily orders of customers was a tall order, what with all the accompanying paperwork and long spreadsheets. With the advancement in the technology, order management software development activity has come in as a boon against such routine tasks. Technology providers have come up with easy to use and highly affordable software to tackle the cumbersome process of order management.

Managing all the orders is a challenging issue, especially, when you have multiple stores across the cities. If you have an effective order management system (OMS) with shipping facility, then it enables you to monitor and maintain all the stock details of the product across all your stores and to update it in the online automatically. It gives you the exact details of your services, leftover stock, and price tags.

With the time saved on routine and mundane tasks, business owners can devote more time to boosting sales - the prime movers for ROI of any business. Have a good amount of sales with inventory management software development. This system serves the needs of any business, especially, it is a boon for retail enterprises and manufacturing industries which require a lot of goods maintenance. Manage the complete picture of your stock details, orders received, orders served, orders canceled with this to meet all your client’s requirements.

Let’s go to the short insights about the Functions of inventory management software. It

• Simplifies the whole supply chain management
• Allows automation
• Monitors every nook and corner of inventory of an organization
• Balances the supply and demand of products
• Acts as a pre-planner for all stock for the future

Features of Order Management Software

The features of this software give comprehensive solutions for all industries in order to control the supply chain effectively.

1. Stock Management

Effective stock management is crucial for any business, ensuring that customers have access to accurate information regarding product availability. This feature provides a comprehensive listing of all goods and products, including the total number of items in stock, damaged goods, available products, and newly added inventory. It allows businesses to update these records in real-time, ensuring that customers can easily determine whether a desired product is available. Additionally, each product is accompanied by a price tag, allowing customers to make informed purchasing decisions. By maintaining up-to-date stock information, businesses can optimize their inventory levels, reduce waste, and enhance customer satisfaction by meeting demand more effectively.

2. Order Management

The order management system streamlines the entire purchasing process, making it simple and efficient for consumers to place, cancel, or replace orders. This feature provides a seamless user experience, allowing customers to manage their orders with ease. For businesses, the automated tracking of order details ensures that all transactions are accurately recorded and easily accessible. This not only helps in reducing errors and delays but also enhances customer service by providing timely updates on order status. By automating these processes, businesses can improve operational efficiency, reduce manual workload, and offer a more responsive service to their customers.

3. Finance Management

A transparent and well-organized financial management system is essential for any business. This feature enables businesses to manage their cash flow, both inward and outward, with precision. By tracking all financial transactions within the application, businesses can gain clear insights into their financial health. This includes monitoring sales revenue, expenses, and profit margins. The system ensures that all financial data is securely stored and easily accessible for analysis and reporting. By integrating finance management into the application, businesses can enhance their financial planning, make informed decisions, and ensure compliance with financial regulations, ultimately contributing to long-term business success.

4. Barcodes

Barcode technology is a powerful tool for managing stock with accuracy and security. By enabling barcodes with serial numbers on all products, businesses can significantly reduce the risk of fraud and errors in inventory management. Barcodes simplify the tracking of products throughout their lifecycle—from the moment they enter the inventory to when they are sold. This feature allows for quick and accurate scanning of products, ensuring that stock levels are automatically updated in real-time. Barcodes also facilitate efficient stocktaking, reduce manual data entry, and minimize the chances of discrepancies in inventory records. By implementing barcode technology, businesses can improve their operational efficiency, enhance security, and maintain accurate inventory records.

5. Delivery Tracking

Delivery tracking is a key feature that builds trust and confidence among consumers. This feature allows customers to monitor the entire delivery process, from the moment an order is placed until it reaches their doorstep. By providing real-time updates on the status of the shipment, including estimated delivery times and any potential delays, customers can stay informed and plan accordingly. For businesses, delivery tracking helps ensure that orders are fulfilled on time and provides valuable insights into the efficiency of their logistics operations. By offering transparent and reliable delivery tracking, businesses can enhance customer satisfaction, reduce the likelihood of delivery-related complaints, and foster long-term customer loyalty.

6. Payment Gateway Integration

Integrating a secure and convenient payment gateway is essential for facilitating smooth transactions between customers and businesses. This feature allows customers to easily pay their bills through a variety of third-party payment gateways, such as Paytm, e-wallets, and other popular online payment methods. By offering multiple payment options, businesses can cater to a wider range of customer preferences and enhance the overall shopping experience. For the business, this integration simplifies the management of cash flow by automating the transaction process, reducing the need for manual intervention, and minimizing the risk of errors. Secure payment gateway integration also ensures that customer payment information is protected, fostering trust and encouraging repeat business.

7. Reporting

This feature gives brief analytics of all the reports such as orders placed, orders canceled, orders replaced, shipping details, cash flow, tracking details, etcetera on a daily basis.
Besides, you will know the frequent customers’ details and the products which have more demand by which you can maintain stock. These insights will guide the businesses for further improvements.

For example, if one of your items was sold more times than others, then you have to focus more on this product in order to meet customers’ demand and keep them happy.
Thus, the reports suggest online stores for effective management of inventory.

Benefits of Order Management Software

The various advantages of this supply chain management are as follows:

• Control over the stock
• Effective monitoring of the sales
• Reduction in errors/fraud
• High Revenue to businesses
• Help in getting loyal customers
• Builds brand value
• Time-saver
• Fast delivery of services/products
• Reduces expenses of a business
• Supports multiple store locations

Pricing

The cost to develop an inventory management software depends on the complexity of the features (since it differs from industry to industry), the technology used, and the company’s brand value. The average cost is in the range of $15000 to $30000.

Conclusion

Delivering orders accurately for each customer on time needs the help of an innovative and fast processing tool. Courtesy order management software development, facility management software, intuitive tools have emerged for the advantage of the users. Own this firmware to your warehouses, online stores, and all industry verticals including manufacturing industries to keep track of all your cash flow management at your fingertips. It helps in getting attention to services/products you offer.
Besides, the rich set of features of inventory management software development helps to maintain your daily operations at ease. And, it boosts your sales and yields high returns for your E-commerce business.