While the COVID pandemic is accelerating the shift to a more digital world, businesses must keep up with the rapid growth of eCommerce. Companies of all sizes have to utilize eCommerce integration software to remain efficient as the transition towards online shopping continues.
A recent survey by UNCAD has examined shopping patterns across 9 countries with both emerging and well-developed markets and the findings are quite remarkable. Even though the average spending per month has decreased since the beginning of the pandemic, the number of purchases has increased quite significantly.
What does this mean for online businesses? Quite literally, that their welfare depends on how efficient they can stay under the pressure caused by the pandemic. As the number of potential sales continues to grow, businesses without proper tools may struggle to keep up. This results in lost sales, dissatisfied customers, and, in most extreme cases, shutdown.
So, how do you stay efficient in these circumstances? With the help of eCommerce integrations.
Custom vs. third-party integrations
There are two paths you can take. You can go with third-party integration, and choose between either point-to-point or middleware options, or build a unique solution tailored to your business needs.
There are tons of third-party solutions to choose from, each having its own advantages and disadvantages. However, what they offer in variety is outweighed by their limited capacity for flexibility.
Therefore, in this article, we decided to talk about eCommerce integration in the context of custom-built software, as it provides almost limitless options for customization and business scaling.
Manage your stock with PIM
Small inventories are not that difficult to manage. However, as a retail business grows, its stock usually grows with it. Without a proper system in place, you have to rely on lots of manual work to control it. This leads to an increasing number of errors, lost orders, and a decrease in revenue.
For larger businesses, as well as medium-sized ones that aspire to grow, robust product information management software is a must. The PIM market is growing and is expected to be worth as much as $11.4 billion worldwide by 2024. Why? Because more and more businesses realize that they have much to gain from utilizing PIM. Let’s take a look:
A unified environment to manage your inventory
A PIM solution holds all product data in one place, including descriptions, pricing, warehouse, and logistics information, etc. This is a great tool to keep track of your inventory even if there are just a few dozen products in it. For larger enterprises that have separate branches in different countries, PIM is simply irreplaceable.
Saves time and reduces manual work
The less time your employees have to spend on manual data entry – the more time they have to focus on other, more profitable tasks. Searching for products and updating the inventory is no longer a chore, and can be done with just a few clicks of a button.
Decreases returned orders caused by human error
Less manual work also means fewer errors caused by the human factor. Moreover, having total control over your custom PIM software allows you to implement data verification tools that will automatically check and update all product data. Fewer errors mean fewer returned orders and more satisfied customers.
Syncs up your physical and online stores
For businesses with a both physical and online presence, a single system that holds all product data in one place is a great way to keep everything and everyone up to date.
Our client-partner Home Furnishing Nordic (HFN) sees the benefits of a PIM system firsthand. Our team developed a custom solution tailored to all their business needs, which helps HFN remain efficient as it expands its reach to more markets.
Manage your intercompany sales with PIE
Selling products on multiple platforms is a common practice among subsidiary companies within a corporate group. However, without a dedicated system that takes care of interchanging all product information, it quickly becomes a complicated and burdensome process.
This is why a product information exchange system is so crucial for corporate groups such as our client-partner Byghemma group. PIE works as a “hub” that receives, holds, and exports product data. More importantly, it makes sure that it stays updated and all platforms that sell a particular item have accurate information about its price, availability, etc.
With a single “hub” at hand, businesses no longer have to rely on their employees to manually transfer product information from one platform to another. Not only does this make the entire process quicker and more efficient, but it also eliminates all the errors that manual work is so prone to.
A PIE system creates a win-win situation for every company within a corporate group. More influential ones can expand their selection with items they do not normally sell. Smaller companies, on the other hand, have a better chance to secure sales on larger, more popular platforms, and make their brand known.
Manage your customers with CRM
As more businesses realize the value of customer relationship management systems, it is quickly becoming the fastest growing software market in the world. According to the report by Grand View Research, the global CRM market size is expected to grow to as high as $80 billion by 2027.
Let’s take a look at how can a CRM make a business more efficient.
Automates many daily tasks
A robust CRM system automates lots of tasks that are usually put on your employees’ shoulders. Instead of filling out tons of forms, sending reports, and taking care of heaps of paperwork, they can focus on providing the best service to your customers. Let the machine do all the tedious work while your employees resolve customer inquiries and secure those sales.
Creates effective cooperation between teams
A CRM system provides access to all customer data to your marketing, sales, and customer care teams. This allows them to seamlessly work together and become more effective at achieving their goals like attracting more customers or boosting your revenue.
Helps make better business decisions based on customer feedback
Successful businesses base their decisions on data rather than a gut feeling. With a CRM system in place, you can better understand your customers and, more importantly, have constant access to their feedback. Armed with this knowledge, you can ensure your projects succeed.
Custom eCommerce integration software creates endless possibilities
To stay efficient and prosper in an increasingly digital world, businesses have to embrace technology.
The benefits of integrating your eCommerce business are unprecedented. Third-party integrations offer a wide range of options but are quite limited in flexibility and scaling. Custom integrations, on the other hand, provide almost endless possibilities for customization. However, they also require more investment and assistance from an experienced development team.
No matter which path you choose – your eCommerce business has much to gain from integration. Don’t hesitate – integrate!