One of the biggest priorities for all businesses in 2023 is to reduce costs!
It’s no secret that reducing your business’ costs is challenging but thankfully, there are fast an easy ways your businesses can reduce costs in 2023.
Here are 5 Ways Using an Order Management Software Can Reduce Your Business’ Costs.
1. Automates Daily Tasks
How long do you spend taking and receiving customer orders? How long do you spend chasing customers for payment? Performing manual administration tasks will increase your businesses overheads and take you away from your primary role of buying and selling great products.
The biggest benefit of using an Order Management System is it streamlines and automates many manual Supply Chain Management tasks like Ordering, Inventory Management, Invoicing, Receipting, Accounting and Customer Payments.
Automating your businesses tasks will give you more time to focus on building your customer base and planning for future growth. The less time your team spend on admin, the less cost there will be to your business.
2. Automates Customer Payments
Studies show the Food & Beverage Industry waits 24 days on average for payment – the worst of any industry in Australia. No matter what business you operate, waiting almost a month for payments is not sustainable. In saying that your business shouldn’t have to hire or assign a staff member to the sole role of chasing customer payments.
Another massive advantage of using an Order Management System like EasyVend is you can automate customer payments! Using Payment Gateway technology, Customer payments are automatically taken at the agreed time from the customer and will instantly link to the correct invoice in your accounting system. Automating Customer Payments will save your business hours of time every week, increase cashflow and accelerate growth.
Related Article: Why Food & Beverage Businesses MUST Have a Payment Gateway.
3. Eliminates Error
Let’s face it, we all make our fair share of mistakes. However, in the Food & Beverage industry making one slight mistake can cost your business thousands. One of the reasons why so many F&B business make mistakes is because they complete tasks manually.
An advantage of using an Order Management System is it removes the risk of making errors on tasks like ordering, inventory control amongst others. With many manual tasks being automated in the background as you trade, an OMS reduces the number of manual tasks you or your team need to perform which will significantly reduce the risk of making a costly error.
4. Streamlines Reporting
Reporting has always been a pain for many small businesses. There is no overstating the importance of having strong reporting in the Food & Beverage industry. To be successful your business needs quick access to vital reports to make calculated business decisions.
One of the biggest advantages of using an Order Management System is it streamlines reporting and gives you the information needed to accelerate growth. An Order Management System will compile essential business reports like order numbers and statistics, live inventory numbers, delivery numbers, growth, revenue, and more in the background as you trade.
In the click of a button, you can export the necessary report and proceed with actioning the next steps in a fraction of your regular time. The benefit of having fast access to essential reports is it gives you a ability to make strong, strategic business decisions that push your business forward.
5. Integrates with Accounting Software
It’s no secret that accounting is an expensive but necessary task. Often, the reason why accountant fees are so high is because they waste hours of time looking for the information, they need to complete the job.
Order Management Systems like EasyVend integrate with leading accounting software platforms like Xero. The benefit of having an integrated accounting setup is data automatically transfers from the program of entry directly to the other linked software without requiring any duplicate data entry work to be performed.
With your systems integrated, all information will be ready to go for your accountant when they need it. This will reduce the time needed to complete the job, which will ultimately reduce your incurred fees.
Reducing costs is the key to operating a successful Supply Chain business. Using an Order Management System will reduce your businesses expenses and put you in a position to grow. The 5 examples presented are a few of the many ways an Order Management System can reduce your businesses costs.
We hope you enjoyed reading this article. To read more articles like this, please visit the EasyVend latest news page here.
For Supply Chain Businesses, EasyVend supports and automates every part of your business, freeing you up to grow your sales simply, unlike other ERP systems.
EasyVend includes key everyday features like Inventory Management, Online Ordering, Invoicing, Receipting, Automatic Credit Card Payments, Xero Accounting Integration, Route Management, Business reporting and more.
Using the latest technologies, EasyVend removes common frustrations making business more streamlined today!