The market for order management system software has been on the rise for several years, and is poised to continue growing alongside demand for this type of advanced solution. An OMS – particularly one that accounts for an omni-channel strategy – offers numerous benefits for businesses of all sizes, and according to a study from ARC Advisory Group, this market will grow year over year through 2022.
In addition to increasing use of order management software across the board, there are several other trends emerging in the OMS sector:
Transition to SaaS options
One of the most impactful shifts impacting the OMS software market is the increasing preference toward Software-as-a-Service OMS options, as opposed to traditional on-premises software.
Not only are SaaS-deployed solutions typically less expensive – as they don't require the same upfront investment in technology and infrastructure needed to support on-prem software – but SaaS can also offer benefits in terms of access and flexibility. As the ARC report pointed out, the trend toward SaaS means that advanced solutions like OMS are more accessible for smaller organizations with fewer financial and technological resources.
Rising order complexity contributes to higher demand
A leading reason behind the growing demand for OMS software is the fact that consumers and order recipients now have an increasing number of order and delivery options available to them. While this contributes to an improved customer experience, supported by personalization and choice, it also heightens the level of complexity of each order.
In order to keep up with these demands, organizations need a solution that will support visibility across their inventory and supply chains. An advanced OMS allows brands to remain on top of increasing demands and rising order complexity through more efficient back-end processes
Customer perspective: Needs for streamlined order processing
Despite the array of different options available to customers – including for things like delivery, disbursement notification, and more – consumers still expect a simple and streamlined order system. Any hiccups during card authorization or shipment notification could cause customers considerable frustration, encouraging them to go through a competitor for their next order.
This leaves little room for mistakes on the part of e-commerce and other brands. Companies need a solution that will not only enable them to streamline customer payment, order processing and fulfillment, but can also improve customer support and returns, when needed.
A full-service OMS required
Not just any order management software solution will do in the modern age. Businesses need technology that provides:
- Visibility into inventory availability and allocation, as well as inventory reduction updates based on current shipping manifests.
- Support for simple customer interactions, including streamlined payment verification and emailed order disbursement notifications.
- Additional customer-centric features, including exceptional customer support, returns processing and outbound engagement.
As demand and complexities increase, an innovative and advanced OMS is required. Connect with us today to learn more about our industry-leading FlexOMS solution.