The best order processing software allows businesses to produce a faster path to improved operational efficiencies, recognized revenue, and higher renewals and customer satisfaction. Additionally, good software needs to track the order-to-cash process and eliminate manual errors and bottlenecks to establish a smooth flow from sales quotes to approved orders. By integrating billing and order capabilities, businesses can fulfil their goals in sales, finance, eliminating billing errors, efficiency, accuracy, and strengthening revenue recognition. Using order processing software improves cash flow and helps business owners focus on growth and market demands.
What are the benefits of establishing order management processes?
Every business needs to give their organization, from executives, fulfilment specialists through to sales representatives and finance managers, real-time visibility into sales order & invoice ageing, as well as detailed history of order status. This allows the business to reduce turnaround times, identify issues and resolve customer problems without wasting time.
The main benefits of using an order processing software include:
- Reduce time and effort by automating invoices based on payment terms and automate billing processes such as project-based and recurring billing
- Allowing customers to self-service their order and delivery information as well as payments
- Improve cash flow with a quote-to-order-to-cash process across finance and sales
- Reduce days and monitor orders with real-time detail reports and dashboards
- Improve sales by taking control of the order and quote process with discounting policies, pricing, integrated approvals and more.
Good order processing software should also have features to help businesses improve their overall efficiency. Some of these features include:
- Having an order and quote management system to ensure that the business process is integrated across finance, sales and fulfillment, as well as centralized management of all orders and quotes
- Ensure that the recent sales are based on the latest discounting and price rules, and increase order size by using upsell management
- Streamline order fulfillment by using an automated shipping process with USPS, UPS, and FedEx
- Improve returns process with return merchandise authorization and order management
- Reduce errors by routing orders to suppliers for shipping
- Eliminate errors with a centralized order, customer and invoice records that can be shared across businesses
- Accelerate cash flow by integrating the bill process, which provides greater and fasting billing accuracy
- Automate invoicing as well as complex project-based billing
TradeGecko can help you manage your orders from quote through to fulfilment. Contact us for more information about how TradeGecko can help streamline your order processing.