Ecommerce Innovations: 5 Top Order Management Solutions for 2024

The e-commerce businesses are growing at a fast pace, and the rapid growth in the number of online shoppers calls for an efficient order fulfillment process. This is where the Top Order Management Solutions take charge of being the game changer!

According to the insights from Statista, worldwide retail e-commerce sales were valued at $5 trillion in 2021 and are anticipated to exceed $7 trillion by 2025, thus making e-commerce businesses an indispensable part of global retail alongside a clear sign to integrate an OMS for your business.

This article encompasses a comprehensive list of the top 5 order management solutions you can consider for your business.

So, without any delay, let’s dive into the basics!

Order Management Solution (OMS)

What is an OMS?

OMS, short for Order Management System, refers to a software solution designed to automate and streamline the order processing and fulfillment process while reducing the errors and time to fulfill an order. It helps improve the efficiency of the order fulfillment process for the suppliers while enabling you to manage the orders from different channels and marketplaces in a centralized system.

Key Components of an Order Management System

The components of an order management system are as follows –

1. Customer Management
2. Fulfillment Management
3. Inventory Management
4. Order Management
5. Reporting and Analytics
6. Returns Management
   

Customer Management – It helps manage every aspect of the customer data like their name, contact number, address, order details, and other important information which helps provide personalized services to the customers like custom offers, coupons, etc. It also facilitates automated updates about the order status with real-time order tracking and visibility, while ensuring transparency.

Fulfillment Management – This feature helps direct orders to the relevant warehouses based on the location, stock availability, and other important aspects like order fulfillment time and costs. It also helps manage the delivery times alongside generating automated labels, thus streamlining the other processes like picking, packing, and shipping.

Inventory Management – As the name suggests, it helps manage the stock levels of products across different locations and warehouses from a centralized system alongside streamlining the goods restocking process. It helps eliminate the risks associated with the inventory like overstocking and understocking, thus leading to reduced losses and increased efficiency.

Order Management – It handles and automates the entire order processing approach with features like validating orders, tracking orders, and more, thus facilitating an enhanced customer experience alongside ensuring on-time delivery of the products.

Reporting and Analytics – This helps in providing detailed insights and reports on business performance based on various metrics like sales trends, order fulfillment rates, inventory levels, and other aspects. It also helps predict future market demands by using historical data, thus ensuring optimized stock levels to fulfill future customer needs.

Returns Management – Returns are an essential part of the order fulfillment process and this feature facilitates seamless and easy returns management. It involves the process of return by picking goods from the customer to their source with features like tracking returned items, processing refunds, exchanges, and more.

What are the benefits of OMS for E-commerce Businesses?

Order management software aids an e-commerce business with innumerable benefits, thus streamlining its business processes and workflows.

The benefits of an OMS are –

1. Automated Process – It helps automate business processes, which further helps improve efficiency, thus reducing manual efforts and speeding up the order fulfillment process.
2. Identify Future Trends – It analyzes historical business data to identify future business trends, thus enabling you to maintain optimal inventory levels and reduce the risk of losses.
3. Enhanced Accuracy – An OMS also helps minimize the errors which in turn ensures higher order fulfillment accuracy alongside enhanced customer satisfaction.
4. Flexible and Scalable – It seamlessly integrates with other sales channels and platforms alongside scaling easily as the business grows by facilitating increased order volumes, and more.
5. Reduced Costs – It also helps reduce the costs associated with the entire order management system like labor costs, operational costs, etc thus increasing the profitability of your business.

Top 5 Order Management Solutions for 2024

Moving ahead, the Top 5 Order Management Solutions (OMS) to consider in 2024 for your business are –

1. FulFillor
2. NetSuite
3. Quickbooks
4. Zoho Corporation
5. Cin7

Fulfillor

Developed by NOI Technologies LLC, Fulfillor is a full-fledged cloud-based order management system that helps streamline and optimize the entire order fulfillment process.

The key features of FulFillor are –

• It has extensive integration capabilities with different e-commerce channels and marketplaces like Etsy, Amazon, Walmart, and more.
• It enables flexible customization options thus tailoring unique solutions as per your specific business needs and budget.
• It also facilitates advanced shipping integrations like  FedEx, DHL, UPS, and more for streamlined shipping.
• Fulfillor offers detailed insights and reports based on different metrics to make data-driven decisions for enhanced efficiency and customer satisfaction.
• It also facilitates order routing, batch tracking, automated label generation, 

The benefits of FulFillor’s OMS are –

• It provides a centralized platform for the businesses to manage the orders seamlessly.
• It reduces operational costs by automating workflows and reducing manual labor, which further helps optimize inventory levels, improve productivity, minimize returns, and more.
• It also provides real-time visibility into the stock levels, thus reducing the risk of overstocking and understocking, leading to reduced loss and increased profitability.

NetSuite

NetSuite is another cloud-based OMS, developed by Oracle for small and medium-sized businesses.

The features of NetSuite are as follows –

• It helps in customizing workflows which further helps in seamless order processing to meet the unique business needs.
• It facilitates real-time visibility of the entire business processes to ensure precision in tasks.
• It also helps centralize the order fulfillment and management process, which in turn helps improve the efficiency of the workflows alongside increased productivity.

The benefits include the following –

• It provides the flexibility to adapt to changing business requirements.
• It also helps enhance the decision-making process by analyzing real-time data, thus ensuring accuracy.

Quickbooks

It is a highly preferred accounting software that also offers order management capabilities, developed by Intuit, and licensed as proprietary software.

The features include –

• It facilitates seamless order processing with automated invoicing and billing.
• It provides real-time inventory management, which helps avoid overstocking and understocking alongside automated reordering as the inventory levels get low.
• It also enables you to easily sync orders from other e-commerce channels like Shopify, Amazon, WooCommerce, and more.

The benefits of Quickbooks are –

• It enables you to manage your finances, orders, inventory, etc from a unified platform.
• It helps save time with automation alongside minimized errors and ensuring precision in tasks for enhanced customer satisfaction.

Zoho Corporation

Zoho Corporations is another powerful OMS that helps streamline order fulfillment processes for small to medium-sized businesses.

Its features include the following –

• It facilitates seamless order tracking, starting from order placement till delivery, thus ensuring transparency.
• It also helps manage stock levels easily, across multiple locations and warehouses with ease.

The benefits of Zoho’s OMS are –

• It is a cost-effective solution for small to medium-sized businesses.
• It is also scalable, which implies that it easily accommodates the requirements as the business grows.

Cin7

It is a cloud-based order management system that is accessible to businesses of every scale and seamlessly integrates with a wide range of e-commerce channels, marketplaces, accounting software, and more.

The features of Cin7 are as follows –

• It helps automate the entire order fulfillment process which helps reduce errors and saves time, effort, and money.
• It synchronizes real-time data which further helps ensure accuracy in workflows alongside enabling you to plan inventory accordingly.

The benefits include the following –

• It helps reduce costs with guided walk paths, wave-based picking capabilities, and more.
• It also helps improve the productivity of employees with automation, thus enabling them to focus more on strategic processes.

Wrapping It Up

In today’s competitive e-commerce landscape, having an effective order management system is crucial. As businesses evolve, here is a list of the 5 top order management solutions to consider for your business that help save time, effort, and money, and also offer a myriad of features and benefits to gain a competitive edge in the market alongside improved customer satisfaction.

So, now is the time to start working on it!

Connect and Schedule a Demo with us now. Fulfillor’s is one of the Top Order Management Solutions in United States (USA) and is the need of the hour. Exemplify your business services with top-notch features and solutions customized to your unique business needs at business-friendly pricing.