Types and Modules of Order management software
An OMS (Order Management Software) is a combination of process and software that work-integrated together to manage all the needs of a seller relating to the selling and delivery of their products.
Varieties of order management software are available in the market possessing their specified specialty and working in some core domains. All of them have few basic common modules that are present in every type of order management system. Some of them are listed down below:
Modules of Order Management Software
· Vendor Management
Vendor management that includes all the information relating to selling, purchasing, and receiving, is one of the basic and essential modules of an order management system. OMS must possess the ability to manage the details of the vendor and the buyer along with the details and history.
· Inventory Management
Inventory Management includes the data handling of all the products and goods moved out for shipping, products being manufactured, and the products managed inside a warehouse as inventory.
· Marketing
Marketing is a very important aspect of selling a product or service. OMS that possess complete functionality ability in other domains must have the marketing tools and regulations inside. It refers mainly to the development of catalogs, determination of prices, and other promotional activities.
· Customer Handling
Customer handling and prospect data management is another vital module of the order management system. It should possess the ability to track the potential buyers for the products of the company and could be able to find various means to reach out to them. Customer data and the history of a transaction is yet another important element that needs to focus.
· Product Information
One of the main and the utmost essential attributes of an OMS is the product information section. In this module all the details regarding a product or goods are present. The information is regarding the location of the product, quantity, and quality of the product, product description and attributes, etc.
· Return and Refund Policy
The module of refund and return policy is a must in any of the order management software to cater to the needs of the buyers and facilitate the process of returning. All the vendors selling their products on any platform do need to have the refund and return policy of products and to cater to the whole process OMS needs to support it.
· Financial Processing
All the details regarding billing, credit card purchases, cash on delivery, online payments, etc. are dealt with under the module of financial processing. It is a must to have financial processing module for every kind of order management system, although the overall utility can vary from vendor to vendor.
· Order Processing
Last but not least is the order processing attribute that is the heart and soul of every order management software. This module widely covers all the stuff relating to order delivery, shipment, quantity, etc.
Types of Order Management Software
· Manual order management
It is the type of order management software that enables the vendors to handle the order queries and process the order manually. No automation of any kind is involved and every attribute works manually along with monitoring and tracking.
· Using an e-commerce platform
It is the integrated type of order management system that is linked up with an online e-commerce platform. It enhances the experience for both buyers and sellers and enables them to interact in a better UI phase.
· Standalone order management software
Standalone order management software is a type that solely deals with order processing without getting linked with any other systems deployed in the company. It is used by large vendors who use specialized systems and software for every individual task.
· Enterprise retail platform (ERP) software
ERP software is a famous and one of the most widely used types of order management system. It is used by both small and large kinds of organizations to achieve the goal of smooth and efficient functionality along with maximum productivity.
