What is Omnichannel Management Software and Its Importance for Retail Companies?

With ever-changing needs and expectations of the customers, retail businesses are finding it difficult to keep up with the pace. According to a recent study, 80% of the customers are unsatisfied with the customer experience offered by many renowned brands!

The present customers want a satisfactory customer experience and more. Know what is it?

The present-day customers want complete control over their shopping experience. Whether shopping online or offline, the modern customers want more choices and absolute convenience while shopping. This is, in fact, a major reason that they are using social media as a prominent tool to identify the best deals online.

As a result, the RETAIL companies are looking out for a more advanced and well-integrated channel that can help them approach their customers in a better way.

So, what is the solution?

As a solution, a new customer-based marketing strategy has been introduced known as the ‘Omnichannel Approach.’ This is a powerful marketing strategy that allows companies to enhance their customer’s experience and at the same time boost their business’s performance.

What is Omnichannel Marketing?

The omnichannel marketing approach is an entirely consumer-focused approach involving the ultimate goal to offer customers a seamless and impeccable shopping experience on numerous retail channels. These retail channels include but are not limited to offline stores, mobile apps, TV, radio, online websites, catalogs, and more.

With the omnichannel approach, it is possible for companies to integrate all their retail channels at the back end. As a result, they can expect more success and deliver better customer experience.

What is Omnichannel Management Software?

Omnichannel management software allows central management of inventory and orders of offline and online stores.

With this software it is possible for e-retailer to route online orders to nearest stores, hence offering a uniform and seamless shopping experience to customers. In addition to this, the software can help RETAIL companies to reduce their logistics cost to a great extent. For such reasons, it is also known as a cross-channel business model that can help companies enhance their customer experience to a great extent.

This software is the best fit for all end user-centric domains like financial services, retail companies, government establishments, healthcare institutions, telecommunications and more.

With the omnichannel management software, you can focus on your customers and offer them the best possible shopping experience. This software allows offering customers with things they want within the shortest time frame and through the medium he selects to shop.

Retailing through omnichannel software would help users to combat almost all the challenges of modern-age markets. This software works as a key solution for retailers to offer instant and centralized cross-channel orders as well as manage inventory.

This software empowers the companies so that they can engage their customers with their quality service across various marketing channels. These channels can be online stores, company websites, physical outlets, mobile apps, and more.

The omnichannel management software is a sophisticated tool designed keeping in consideration the present and future challenges that can hamper a business’s growth. As a result, the software ensures that the orders made are routed effortlessly from the online channel to the nearest store for timely fulfillment. Hence, besides enhancing the customer’s shopping experience it reduces the logistic costs and processing time to a great extent.

Importance of Omnichannel Management Software for Retail Companies

If you want to ease out your retail supply chain process then having an omnichannel management software is the need of time.

So, if you want to know how omnichannel management software can ease your retail supply chain process and why it is important to you then have a look at this!

1. If your business lacks a centralized platform for inventory management then omnichannel management software is the only solution.

This software allows updating the inventory in real-time across various locations. If you use reliable software then it can sync your inventory with more than 40 marketplaces.

As a result, you can bring your offline inventory into a centralized platform that would help you define priorities and make adjustments seamlessly. At the same time, it will ensure that all your retail channels receive precise stock updates. With accurate stock updates, it would be possible for you to plan the stock and avoid overselling the offerings.

2. Omnichannel Management Software can offer you with an Integrated Cross-Channel Order Management

With the omnichannel marketing approach, your customers will have multiple options to place as well as purchase your offerings. The omnichannel management software will ensure that you have a robust and flawless cross-channel management of all your orders.

This software integrates orders from physical stores, company’s website, mobile apps, e-commerce websites, and all other channels. The bulk orders are then processed precisely keeping the logistics expenditures low.

Furthermore, it is possible to allocate various orders from different POS to the closest stores for shipment and processing. As a result, it is possible to achieve absolute flexibility and convenience of routing orders based on various geographical criterions like city location, state location, pin code, and more.

3. Simplifying Logistics is a major challenge in the ever changing needs of the customers. Omnichannel management software is an impeccable solution to it.

Another reason that makes omnichannel management software important for the modern RETAIL businesses is the need to simplify logistics.

If you are not able to avail smooth and uninterrupted shipping of orders then you will not be able to offer your customers the best shopping experience. The omnichannel management software from Unicommerce is integrated with more than 30 shipping partners as well as in-house logistics. This can help your organization to enhance their customer reach and deliver to any location in the world.

Based on the price, region, weight and other factors, you can assign order shipment to a suitable logistic partner and make order fulfillment in the best possible way. If you think that self-shipping is the best way to ship the order then you can even select the self-shipping option.

Moreover, the customers can also select the way they want their orders to be delivered. They can pick them from a physical store or opt for doorstep delivery.

4. Handling Order Returns is Complicated, but Omnichannel Management Software can make it easy

Handling order returns is a critical thing for organizations as well as customers. It is a showcase of how your customer felt about your product and mirrors your efficiency and commitment the way you manage returns.

If you are using omnichannel management software then managing the returns can intervene with your supply chain process. With this tool, it is possible to manage returns to unify online physical stores and deal with the orders returned efficiently.

5. Integrating Offline and Online Channels is the Need of time and Omnichannel management software can help you with it.

The omnichannel management software offers seamless integration of online and offline stores including marketplaces and sites to allow precise O2O commerce.

Processing offline store, online store, and website orders can be managed conveniently across numerous store locations offering enriched customer experience.

6. Omnichannel management software is important for dynamic allocation of orders

With the omnichannel management software, it is possible to offer a robust and dynamic allocation of offline and online orders. This will ensure that the online orders will get shifted to the nearest physical store to reduce the logistic cost to a great extent.

Moreover, the order routing is flawless and flexible. It can be processed on the basis of city location, pin code, state location, and more.

7. Omnichannel management software allows smooth integration of all channels

With omnichannel management software, it is possible to effortlessly integrate various ERPS into the omnichannel software.

It is possible to update the information about retail supply chain, like order details and inventory status is automatically updated in the ERPs. Along with this, the multi-channel orders of retailing occur in the ERPs to bridge the communication of information from internal MIS to e-commerce points.

8. Omnichannel management software allows periodic generation of data

With the omnichannel management software, it is possible to operate externally as well as internal information in a proficient manner.

The software allows daily, monthly, and weekly operation report to help build the strategies accordingly from grassroots and dominate the market.

The RETAIL industry is continuously revolutionizing and the customers are adopting new purchasing habits. Adopting the omnichannel marketing approach and employing the omnichannel software can significantly benefit your RETAIL business.

Unicommerce is India’s biggest platform for managing inventory and orders across multiple B2B and B2C channels. It is the market leader in providing Multichannel and Omnichannel inventory management solution, thereby easing the business operations for retailers. Most of the top brands in the world are already using it.