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Do you want to increase the effectiveness of your business and raise customer satisfaction with the latest software development ideas? If your business needs efficient operations, order management software development is for you.

Today, the efficient management of orders is one of the critical success factors that can define the company’s overall efficiency and customer satisfaction. An OMS can help to enhance the performance of many businesses by making processes more efficient, reducing the likelihood of mistakes and increasing effectiveness. 

Hence, the support of OMS development enables the use of such technologies for effective and competitive market responsiveness, thereby allowing business organizations to achieve sustainable growth at scale.

So, are you ready to discover how to develop order management software with extraordinary features? If yes, read on as this blog will cover all the information that you should know before engaging in custom order management software development.

What is Order Management Software?

Order management system software is an application that has been developed to support various business orders and newer arrangements of these orders. They are responsible for managing the entire order process. They participate from the initiation of the order until the customer is satisfied with the service. Common functionalities enabled by an OMS are the entry of orders, warehousing and stocking, processing of orders and customer relation management.

The foremost use of this software is to optimize the order processing by increasing the speed and reducing the errors. Up-to-date stock information ensures that organizations do not fall into the trap of having either too much stock or the opposite which is the stock-out situation.

Moreover, OMS also involves the synchronization of the sale of physical and online stores. It makes communication and order processing less error-prone and increasing customer satisfaction.

Order Management Software: Global Market Analysis

As per a report,in 2022, the global multichannel order management market was valued at approximately $2.7 billion. This sector is anticipated to experience robust growth, with a projected compound annual growth rate (CAGR) of 9.4%, potentially reaching over $4.2 billion by the end of 2027.

For 2022, the expected revenue from the global order management software market was estimated to fall between $2.7 billion and $2.95 billion. Forecasts indicate that the market will continue to expand in the coming years, with a CAGR estimated to range from 5.48% to 11.6%.

Must-Have Features of Order Management Software

Effective order management software solutions are essential for optimizing business operations and enhancing customer satisfaction. To achieve these goals, your OMS should include the following six must-have features:

Features of Order Management Software

1. Order Processing Automation

Automating some of the processes is central to the success of any OMS. It simplifies the entire process of handling orders right from the point of receipt of the order to the final execution of the order.

For instance, by automating order validation, order allocation, and shipping, businesses are not only able to minimize errors. But it also take time to process the orders and hence achieve a more reliable flow of orders.

2. Real-Time Inventory Management 

Another critical component that should be monitored closely is the inventory level as a business needs to monitor it . This feature gives real-time information regarding the inventory status in all the sales channels. It helps businesses to control stock status, to prevent situations like stock out or overstocking.

Correct records help in timely customer delivery of consignments, and better vendor management by companies.

3. Multi-Channel Integration

In the modern context of the existence of numerous multiplex selling channels, your B2B order management software should be linked to different selling channels. It must include physical stores, numerous online markets, numerous eCommerce sites, etc. Such integration organizes orders into one system, which helps in terms of visibility and order coordination.

It also assures the various sales points are well coordinated thus eliminating the possibility of making errors on the orders and increasing the order accuracy.

4. Customer Relationship Management (CRM)

By integrating CRM software development into your OMS it means that you shall be in a position to capture. It will also help in monitoring customer data and activities that entail their buying habits. This feature makes it possible for businesses to offer individual attention. Subsequently, they can also solve customer complaints in a better way, hence cementing customer loyalty. 

Hence, by studying customer behaviour, business organizations can work on the items offered, and improve the experience for customers.

CTA 1 order management software

5. Advanced Reporting and Analytics

The order flow reports and analytical tools are critical when it comes to analyzing the trends in orders, the performance of inventory, and customers’ behaviour.

With the help of this feature, one can gain useful information which contributes to creating strategic business plans. It will help to notice patterns, manage inventory, and improve advertising. However, the need for data analysis implies that better decisions and optimizations of the business processes are possible.

6. Scalability and Customization

This means that an effective OMS should be able to handle an increasing quantity of orders and a variety of customer requirements as the business progresses. Flexibility means that the software will be able to accommodate the growth in the number of orders as well as more features in the course of your operation.

Configuration options let firms shape the OMS according to the company’s operational needs to include discrete processes and evolutionary advancements.

Thus, the following features will make your order management software increase operational productivity. It will also reduce customer complaints, and set the stage for sustainable development.

Read more: Supply Chain Management Software Development Cost & Features

Advantages of Order Management Software Solutions 

Advantages of Order Management Software

Order Management Software (OMS) is revolutionizing how businesses handle transactions, from initial order placement to final delivery. By integrating technology into the order fulfillment process, companies can streamline operations and enhance efficiency through their software consulting services

This software offers various advantages that can significantly improve business performance.

1. Improved Speed and Order Accuracy

It is one of the major benefits of order management software development. The time taken to process the orders is reduced while the accuracy of the orders is enhanced. This system cuts down on problems that stem from human interference like mistakes in the entries of the orders as well as the time taken to get a hold of the inventory and make an update.

This implies that firms deliver orders to customers in a shorter duration and with fewer errors which results in increased satisfaction among customers and lesser returns.

2. Data-Based Decision Making

Order management software tools also contain data analytics and reporting functions that allow organizations to make rational choices. Through an analysis of orders, customers’ buying habits, and stock, it will be easier to see areas that need improvement.

This makes it easier to determine the future demands in the market, the most appropriate stock in supply and the areas that need to be expanded or corrected. But the latest analysis also helps in strategic planning as it demonstrates trends and possibly promising directions for investment.

3. Improved Approach to Sales and Customer Support

OMS facilitates the improvement of sales and customer support strategies employed by business enterprises. It usually has elements for managing customer relations, monitoring communication and interacting with customers’ concerns in the most effective manner possible.

It results in increased customer satisfaction and empowers the sales departments to chase potential leads with a view of converting them into loyal customers. Improved consumer relations also guarantee that problems are tackled in the shortest time viable thus enshrining customer satisfaction and loyalty.

4. Adaptability to Business Growth

Order Management Software is flexible and due to this makes it one of the most valuable tools for firms that are expanding. Furthermore, because of its flexible architecture, OMS can connect with other systems. Additionally, it will improve its capabilities when the organization expands and incurs a greater workload.

This ability helps maintain the appropriateness and applicability of the program in today’s ever-changing business environment. I enables companies to integrate the latest and more extensive markets, products, and customers.

5. Real-Time Inventory Visibility

Purchase order management software has the capability of providing real-time stock visibility as a major strength. Thus, make sure you are up-to-date with relevant information about the location of stock in and outside your business to prevent occurrences such as overstocking or stockouts.

Apart from inventory management, this visibility boosts the overall accuracy of order fulfilment. Customers experience minimum delivery problems that arise from inventory problems with this inventory management software development, and the business achieves the best stock to fulfil customers’ needs.

How to Develop Order Management Software?

Develop Order Management Software

Developing a custom Order Management Software (OMS) involves a structured approach to ensure the final product meets business needs and delivers optimal performance. 

From initial research to ongoing support, each phase of the software development life cycle is crucial in creating an effective and efficient system. Here’s a detailed guide on how to develop OMS successfully.

Step 1: Do Market Research

The initial task in Order management software development services creation is to start market research. This includes research into existing users and their requirements or secondary research into the competitors’ products and possible shortcomings of the existing solutions.

So, after doing proper market research about customers’ needs and wants, and observations of trends in the given industry, and in the overall development of the technology, you can exactly determine the features and/or the options that will allow the OMS to be unique.

Step 2: Choosing the Right Technology Stack

Decisions regarding the right technology to use in an OMS are significant to the establishment of a strong framework. The technology stack includes or refers to the programming languages, frameworks, databases, and hosting solutions. Some of the considerations that should be made include scalability, security, and compatibility with the rest of the systems in the organization.

Selection of stack is critical hence ensuring that the software selected is robust, effective with the capacity to grow in the future.

Step 3: UI/UX Designing

A successful OMS must be easy to use and two major components in making any system or application easy to use are the User Interface (UI) and User Experience (UX) design. Substantial parts of UI/UX design require the production of multiple blueprints in the form of wireframes and prototypes of the software solution.

In the process of designing the UI, the main aim is to make what are complex processes intuitive and to achieve better user satisfaction. During this phase, the user feedback will be invaluable for fine-tuning the design to the users’ needs.

Step 4: Development Phase

This phase entails the creation of actual software that shall meet the laid down design parameters. This stage entails assembling the entire application, linking to other systems and essential ones such as the ordering system, inventory and the reporting system among others.

It is also imperative to involve the developers, designers, and other stakeholders to guarantee the software created matches the project and the organization’s goals.

Step 5: Testing & Quality Analysis

Testing in software development before launching is also critical, as is quality analysis that reveals errors and their correction. The main activities that are carried out during this phase are the functional tests, performance tests, security tests, and acceptance tests. Testing makes sure that the software is free from errors, secure, and can accomplish the intended function of the software.

It also checks that the OMS satisfies all the set specifications and meets anticipated performance levels in multiple scenarios.

Step 6: Launching

After that, the OMS is set for release once the testing is done. This stage involves putting the software in a live environment so that the users can use it. Some of the best practices when it comes to launching an EDI application are training the users, documentation of the system as well as informing the stakeholders regarding the change of process.

It is recommended to supervise the first implementation to eliminate problems and collect information for potential improvement.

Step 7: Support & Maintenance

It also recommended that support and maintenance are very important for the sustenance and growth of the OMS after its launch. This phase entails technical support and responding to users’ queries besides ordinarily improving the program.

Maintenance makes it possible for the software to continue being operational and protected and to also incorporate new changes that may be key in the business or new technology.

Read more: AI Inventory Management Software Development Cost, Benefits & Role

Use Cases of Order Management Software

Order Management Software is a versatile tool that can significantly enhance operations across various industries. By streamlining order processing and improving efficiency, OMS helps businesses meet their unique demands and drive success. Here’s how different sectors benefit from order management software.

Manufacturing

In manufacturing, OMS helps manage complex supply chains and production schedules. It ensures timely procurement of raw materials, tracks production orders, and coordinates logistics. This leads to optimized inventory levels, reduced production delays, and improved overall efficiency.

Healthcare

For healthcare providers, OMS is crucial in managing the inventory of medical supplies and pharmaceuticals. It ensures that hospitals and clinics maintain adequate stock levels, manage procurement processes efficiently, and handle urgent orders swiftly. This reduces the risk of shortages and supports better patient care.

Retail

In retail, OMS simplifies order processing from multiple channels, including in-store and online. It integrates with inventory management systems to ensure accurate stock levels and streamline fulfillment. This improves customer satisfaction by reducing errors and delivery times.

E-Commerce

E-commerce businesses use OMS to handle large volumes of orders and customer interactions. It integrates with various sales platforms, manages inventory in real time, and automates shipping processes. This enhances customer experience and supports scalable growth.

Food and Beverages

In the food and beverage industry, OMS manages orders, inventory, and supply chain logistics efficiently. It helps in tracking perishable goods, managing supplier orders, and ensuring timely delivery. This results in reduced waste and improved service quality.

Also read: Inventory Management Software Development for Warehouse

How Much Does it Cost to Develop Order Management Software?

We are all aware of the cost that goes into initiating what is deemed by many as the best order management software. To break the various aspects of mobile app development cost or software is not as simple a process as it may seem.

The fundamental matters include the design and quality, type of software, features, and platforms that are used in developing the multichannel order management system influence the total custom software development cost. Also, the specific needs or any extra requirements add to the cost of the software along with the complexity of the project. Here’s a breakdown of the costs involved in developing order management software:

  • Simple Order Management Software: $8,000 – $13,000 (3 to 6 Months)
  • Medium-Complexity Order Management Software: $13,000 – $21,000 (6 to 9 Months)
  • High-Complexity Order Management Software: $25,000 – $50,000 (10 to 12 Months)
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Final Words

Developing Order Management Software (OMS) is a crucial investment for businesses aiming to streamline their operations and enhance efficiency. From initial market research to ongoing support, each phase of the development process plays a vital role in creating a solution that meets your specific needs.

Whether you’re looking at a simple system to handle basic orders or a high-complexity solution to manage business processes, understanding the associated costs and timelines helps in planning and budgeting effectively. 

As you move forward, remember that investing in a well-designed and robust OMS not only addresses current challenges but also scales with your business growth. With the right approach and clear objectives, your OMS can transform how you manage orders, deliver exceptional customer experiences, and drive business success.

FAQs

1. What is order management software? 

Order management software helps businesses track and manage orders, inventory, and customer interactions, improving efficiency and accuracy.

2. How does order management software benefit businesses? 

It streamlines order processing, enhances inventory control, improves customer satisfaction, and provides valuable data insights for better decision-making.

3. What features should I look for in order management software? 

Look for features like real-time inventory tracking, order processing automation, multi-channel integration, reporting tools, and customer management capabilities.

4. Can order management software integrate with other systems? 

Yes, it can integrate with ERP, CRM, accounting software, and e-commerce platforms to provide a seamless business workflow.

5. Why choose Octal IT Solution as your order management software development company? 

Octal IT Solution offers customized, scalable solutions with expertise in integrating advanced technologies and providing exceptional support and service.

THE AUTHOR
Managing Director
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Arun G Goyal is a tech enthusiast and experienced writer. He's known for his insightful blog posts, where he shares his expertise gained from years in the tech industry. Arun shares his knowledge and insights through engaging blog posts, making him a respected figure in the field.

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