The eCommerce boom in Singapore and the rest of the world was brought about by the COVID-19 pandemic, and has since caused extremely fierce competition within an industry that has now become saturated with countless competitors. eCommerce businesses that seek to survive and thrive in such a business environment must ensure not only the offering of high-quality products, but also pristine customer and delivery services. For cross-border eCommerce businesses especially, this may be a daunting challenge to overcome.
Fluctuating order volumes across different countries and complexity in logistical, supply-chain, product transport, and distribution matters often mesh together into a complicated web that is near impossible to effectively navigate. However, when big data is leveraged optimally, cross-border eCommerce businesses can streamline their processes and operations to perfectly deliver order fulfillment and customer satisfaction to their consumers worldwide. This is where Enterprise Resource Planning (ERP) systems can offer great support, in the management of big data and all day-to-day cross-border business activities and processes.
Bridging the Cross-Border Complexity Gap with ERP
ERP software and systems can be extremely viable integrated eCommerce solutions for companies in Singapore that engage in cross-border business. The magic of internet thinking is that it not only saves your business a lot of money in the long run, but also enhances business performance and facilitates business growth.
Though ERP systems are a lot more than just an eCommerce management solution, there are 3 main ways the right cloud ERP software can help businesses in Singapore simplify complex eCommerce processes:
1. Procurement Management
ERP software empowers companies to better manage and review supplier relationships to avoid problems to do with service, product quality, price, and delivery times. The usual hours of effort that can go into administrative work such as creating tracking numbers, manually filing orders, and coordinating with suppliers will also be freed up with automated solutions entailed by ERP systems. Via properly aggregating purchase orders with ERP, businesses can also enjoy greater negotiating power when expanding their supplier network and dealing with external vendors.
2. Inventory Management
ERP systems can also help cross-border eCommerce businesses make more informed decisions with regards to inventory management. It can also automate inventory processes and support stock trading and management, storage management and stock transfers, payment gateway functionalities, and real-time reports and analyses of inventory matters for effective replenishment arrangements and optimised inventory planning for each individual node in a multi-national eCommerce business.
3. Multi-Channel, Multi-Platform Management
When engaging in cross-border eCommerce, companies often find themselves having to manage and operate multiple stores across multiple channels — a costly task when done manually, in terms of both time and money. However, with the right ERP system in place, businesses can enjoy the integration of multiple channels and platforms into a single foundational system, such that administrative and analytical work is made easier and more accurate, along with the elimination of the need to go back-and-forth between several different platforms and key management personnel.
All in all, ERP systems can grant cross-border eCommerce companies lower operational costs, enhanced customer satisfaction, greater control and insight for budgeting and planning, and real-time data availability. ERP software also help mitigate human error and prevent costly mistakes from happening, but how you go about choosing and implementing the right ERP system for your business is important.
ERP implementation affects every department of your organisation, and when done without proper training and change management, can cost a company millions or more. Cross-border eCommerce businesses should look to engage credible ERP implementation companies that know what they are doing, if they want the implementation process to provide overall returns in as seamless and simplified a manner as possible.
Simplify Your Cross-Border eCommerce with Hand Global Solutions
Hand Global Solutions (HAND) is a world-leading enterprise IT solutions service provider that offers esteemed cloud ERP solutions and integration to companies worldwide. Our diverse line-up of IT solution products, team of highly-trained experts, and diverse partner network allow us to customise, curate, and deliver only the best ERP systems in and beyond Singapore.
Take the next step in ensuring sustained success for your cross-border eCommerce business. Get in touch with us today.