As businesses continue to shift their focus to B2B eCommerce, they must consider the benefits of ERP integration into their digital business transformation initiatives. By doing so, they can enjoy several advantages that will help them streamline their operations and improve their bottom line. In this blog post, we will discuss seven of the most important benefits that come with integrating ERP into your B2B eCommerce strategy.
Enterprise resource planning (ERP) is a business process management software that helps businesses automate and manage their operations. ERP software systems are typically used by organizations to manage their finances, supply chain, manufacturing, human resources, and other business functions.
While ERP software has been around for several decades, they have become increasingly popular in recent years as businesses look for ways to streamline their operations and improve efficiencies. A key driver of this growth has been the rise of B2B eCommerce. As more businesses move their sales online, they are realizing the importance of having an ERP software system in place to help them manage all aspects of their business.
An ERP solution enables all employees to access data about their department’s current performance and future planning, as well as areas for improvement. This single source of information helps businesses make better decisions, improve communication and collaboration between departments, and ultimately drive growth.
What is B2B Procurement?
Bulk or B2B procurement is the process of a company ordering goods or services from another company. This type of procurement typically happens when a business needs large quantities of raw materials, supplies, or equipment.
The B in B to B can also stand for “business-to-government” when referring to the government contracting process. In this case, businesses are bidding on projects or supplying products and services to government agencies.
Now that we have a better understanding of what is ERP and B2B procurement is, let’s take a look at seven specific benefits of eCommerce ERP integration.
7 Key Benefits of Integrating ERP with your B2B eCommerce:
1. Automate Manual Process
B2B eCommerce automates numerous processes that would have to be completed manually if they weren’t integrated. This is especially beneficial for businesses that are still using paper-based systems or Excel spreadsheets to track their inventory. The ability to integrate ERP systems with WERP enables your staff to work on more value-add activities that can’t be automated like customer service and sales.
2. Provide Accurate Pricing
If you’re selling products or services online, your prices must be accurate. Otherwise, you run the risk of losing money on each sale. By integrating ERP with your B2B eCommerce platform, you can ensure that the pricing information is always up-to-date and accurate. Since B2Bs rely on their ERP software to centralize contracts, pricing and invoicing, it’s only natural for them to provide that data to the B2B eCommerce platform through integration.
3. Eliminates Errors During Ordering
All of the information is stored in one central location, which makes it easy for employees to access and update. Additionally, integration provides a single source of truth for pricing, inventory, and other data-related items. Customers may require certain shipping choices or quantity limits, while others just have access to a certain range of items. An eCommerce platform with an ERP solution simplifies and personalizes the ordering process for each customer because order data is kept within the ERP.
4. Offer Omnichannel Experiences
Customers today expect a consistent experience across all channels, whether they’re shopping online, in-store, or through a mobile app. With eCommerce ERP integration, you can offer your customers a seamless experience no matter how they choose to shop. The integration ensures that all of your data is aligned and up-to-date, so customers will always see the most accurate information on product availability, pricing, and promotions. Integrating with an ERP and CRM enables B2B eCommerce companies to build customer journeys that span all communication, buying channels, and devices.
5. Scalability and Security
As your business grows, it’s important that your eCommerce platform can scale along with you. An ERP integration will give you the flexibility to add new products, customers, and employees without having to worry about the platform being overloaded. Additionally, ERP software is typically hosted in the cloud, which provides an extra layer of security for your data. Brands can use cloud-based ERP software to access a comprehensive platform at a minimal cost. That’s a good thing because it means that brands can get the benefits of scalability and security from the ERP without having to hire employees or set up an IT department.
6. Improve Compliance
Many businesses are subject to compliance regulations, such as Sarbanes-Oxley (SOX) or the General Data Protection Regulation (GDPR). An ERP integration can help you meet these compliance requirements by providing a central location for all of your data. This makes it easy to track and audit your data, which is essential for meeting compliance standards. The accounting and tax data that are linked with inventory are also maintained by the ERP.
7. Enhance Customer Experience
By integrating your B2B eCommerce platform with an ERP solution, you can provide a more personalized experience for your customers. For example, if a customer is looking at a product on your website, the integration can pull up their purchase history and suggest similar products that they might be interested in. This type of personalization is not possible without integration because the data is siloed in different systems. Brands eliminate the need for customer calls about order confirmation and updates by supporting omnichannel self-service experiences.
You might like: Your Complete Guide To Finding the Best ERP Consultant in 2022
To meet increasing B2B customer expectations, businesses are seeking to improve personalization & agility in their processes. ERP integration offers a host of benefits to businesses to optimize productivity. If you don’t have any means or knowledge to integrate the ERP solution then Benchkart is the perfect platform for your digital business transformation. We help businesses find the best ERP solution providers. We have over 600+ agencies offering IT and Digital Marketing services. Visit our website and get in touch with us for more information.
If you’re looking to improve your business operations, ERP integration should be at the top of your list. Thanks for reading! We hope this was helpful. 🙂