“Magnify your service then modifying your business” is the mantra all successful digital commerce companies have adapted now to overcome the ever competitive market around the world.
The basic rule of economics proves that the more you sell, the more revenue you generate. It is estimated that there will be 1.92 billion digital buyers in 2019, and that is expected to grow to a whopping number of 2.19 billion buyers in 2021. Which is 25% of the global population according to a recent study.
Recent research from the Centre for Retail Research shows that the online retail sector is the main driver of growth in European and North American retailing, achieving in Europe growth rates of 18.2% (in 2015), 15.6% (2016), and increases of 14.2% in 2017 and 13.8% in 2019.
“US E-commerce sales currently average out at 9.1% of total sales.
The countries with the highest online shares of their internal markets are the UK (17.8% forecast for 2017); Germany (15.1% for 2017); and France (10.0% forecast for 2017). Other countries with high market shares are Sweden and The Netherlands. Germany has had the fastest-growing online sector for the last few years, but in 2017 its 16.4% forecast growth will be exceeded by Spain (+19.2%), Poland (17.2%) and the Netherlands (17.0%).”
ERP and E-commerce integration are brand new friends which go “hand in glove” in the age of electronic business. Many platforms like Magento 2, BigCommerce, Shopify, and SAP Hybris are the big players in the E-commerce arena, which makes it efficient for its users to integrate with ERP solutions like Epicor P21, Eclipse, Salesforce, Distribution One, Oracle and many more. The factors to consider in business decisions is based on not only the solutions and its features but by how customizable the product can be for every unique business.
Benefits of Ecommerce and ERP Integration
Integrating the two main systems of your business comes with its own benefits
The integration of an ERP software initiates the availability of real-time data to the storefront, allowing customers to view and access the information pertaining to the available inventory, latest order status, and also tracking the shipments using the lot/serial or other tracking numbers. This helps in reducing the cost of operations and improving the customer experience with your storefront.
Reduces the Cost of Inventory:
All the information about web sales appears in your ERP system promptly. Based on these web transactions, ERP item inventory will also be updated. With up to date information about inventory and web sales, an ERP user can plan the purchase in a proper way, thus reducing inventory costs. Via integrating the ERP, one can initiate the updated sales information. An ERP gives all web sales information and also timely updates about web transactions. The updated web sales information and inventory details allow you to forecast and properly plan the purchase, reducing the inventory operational cost. With an ERP, one can easily track the inventory in real-time and also forecast how much inventory you need in the future.
Generate Financial Reports:
An e-commerce application can easily generate financial reports on sales. Via integrating the E-commerce with an ERP, the end-user can move a step ahead, as an ERP software provides a Balance Sheet, P/L Statement, Trial Balance, Cash Flow, etc., ensuring transparency about on the web transactions and financial information across the organization. Financial reports of sales are generated by e-commerce applications. By integrating e-commerce with ERP, it helps the business to produce a trial balance, balance sheet, cash flow, and P/L statement, which gives the required clarity in financial information.
Increases Productivity and Saves Time:
The integrated ERP software streamlines multiple business processes, reducing human resource’s involvement in the business processes. The employees no longer have to manually input data from one platform to another (e.g. shipping info, inventory levels, product info). Instead, communication takes place automatically. This saves time and money and also makes it so employees are free to be productive in other ways.
In addition, all the web sales orders will get integrated into the ERP system in a timely manner. Also, an ERP user can instantly track the order and start further processing. With ERP software integration, the order fulfillment cycle is reduced.
Reduces Data Redundancy and Errors:
With the integration, all information like the web customer details, web orders, payments & shipping information will be integrated to ERP software. In addition, the Item and Inventory details can be uploaded from the ERP to the e-commerce portal, eliminating the need to re-enter the data. Thus, the integration reduces human involvement, data redundancy, and errors happening across the two different platforms.
Increases Customer Satisfaction:
One can easily raise the level of customer satisfaction, via the up to date and real-time product information, inventory availability details, order tracking details, etc. in e-commerce from the ERP software. One can also automatically provide notifications when the shipment goes out, and thereby track the shipment along its journey. With real-time information, providence like knowledge about what’s going on behind the scene adds value to the customer experience. Even if trouble comes up (e.g. a delay or lack of stock) knowledge about the situation can minimize any dissatisfaction.
Additionally It also makes life easier for existing customers who moved from traditional buying to online buying were still the contract pricing payments (installment payments ) made possible along with offline order tracking.
Better Control of your Business:
Integration of e-commerce and ERP business processes provides the business owners the ability to manage the whole business process from one location. It also unifies the e-commerce system with inventory, manufacturing, CRM, financials, etc., improving the communication between the internal departments. Finally, if you make money online and offline, integration allows you to have one holistic picture of your sales.
These are some of the benefits of integration. Furthermore, to make it seamless, ERP and e-commerce platforms need a connector/middleware which can communicate between different APIs (Application Programming Interfaces). In simple terms, a connector can communicate the same language between the e-commerce platform and the ERP.
This is where CLORAS (Cloud Rapid Automation System) comes in and provides a reliable and scalable solution to all aspects of digital commerce integrations with ease. Cloras acts as an intermediate connector and takes care of all the data flow or data transfers between two or more data points – ERP, CRM, E-commerce, etc.
Cloras is a cloud-operated middleware that takes care of every integration needed for your system. Once everything is configured, Cloras takes the wheel and automates integrations. Cloras provides a simplified solution for B2B eCommerce integration with ERP, with its industry verticals not limited to retail, manufacturing, distribution and other industries.
Cloras’s primary function is to ensure businesses provide the best service to the end-user, while the rest of the team can focus on growing the revenue.
Features of CLORAS
Cloras provides standout features to its users which are business-centric. This means a dedicated developer is not needed to monitor and run processes efficiently.
Cloras is a cloud-based middleware that handles end-to-end integration needs of your system. t It integrates applications by building multiple tunnels using accessible microservices.
How CLORAS Works?
Cloras can be integrated in just three simple steps. This will enable you to take control of the information based on your business decisions and its processes.
- Provide required credentials.
- Define the flow through simple mapping.
- Finally, automate the integration based on your frequency of scheduling.
To conclude, ERP and E-commerce integration is not successful without a connector to performance at its highest velocity. Connect, Integrate and Automate your business with Cloras, the best in class middleware, and boost revenue through integrating your ERP and E-commerce platforms.