You don’t need any special software to open an e-commerce store, but you’ll need to upgrade it as your company expands. Modern-day businesses are using a series of software tools and services to drive growth. The right eCommerce software can help save time, make work more straightforward, and increase efficiency with tools like automation, inventory management, accounting, and others.
This article lists a few software solutions you will need to manage a growing e-commerce business.
The more extensive your inventory grows, the harder it will get to manage and maintain. You can automate inventory management using automatic ordering, tracking sales, and sending reorder alerts. You can track expenses with quality inventory management software. The more advanced variety will integrate into your logistics to help control the speed of delivery and track shipments.
If you’re marketing your product across multiple channels, multichannel inventory is recommended. Cross-channel inventory in real time will let you update total inventory as it sells to prevent lack of supply (stock out).
Look for features like:
- Cost Control – This lets you see expenses and profits per item and warehousing costs.
- Analytics – You know what you are selling, where, and when. This makes it possible to forecast sales, plan merchandising and prioritize products per channel.
- Inventory Tracking – You track sales, see what you have, get a centralized view of inventory.
- Supply Chain – By being able to track your supply chain, you have more control over reordering points. This helps prevent stock-out.
- Automation – This lets you set reorder points and alerts, send orders to vendors, automate logistics and otherwise save time on inventory management.
- Planning/Forecasting – By tracking data, you can predict future sales and plan your inventory volume.
These cloud-based platforms or programs allow you to sell directly on your website. Some platforms include their own store or multi-channel support or are even designed to install an online shop on WordPress quickly. You probably won’t need one if you’re not selling on your own platform.
E-commerce platforms are similar to traditional retail stores. They offer a place, where you can add and sell products. By buying a subscription, you can avail of the following tools:
- Inventory size
- Budget – How much does it cost per month
- Solutions – Pricing, product management, search, merchandising, promotions, shipping, personalization, warehousing, and inventory management
- Payment Options – Credit card, PayPal, etc.
- Technology – Data models, application programming interface, business logic, integration framework, development environment, server-side scripts, etc.
- Integrations – Are there such with Amazon, inventory management, logistics?
A myriad of software is available for e-commerce businesses, and it’s of paramount importance that you select the right one based on the number of your staff members and business size.