Traditional ways of processing B2B orders come with several blockages that impact profits and cash flow. Technology helps in optimising and streamline the process. Hence, saving a lot of time and cost. Everyone knows that an order delayed is cash flow delayed. We must understand the differences between paper and online order entry. Read this blog to understand this in detail: B2B eCommerce: Decoding the Business ROI and Impact
In this blog, we will focus on the repercussions of the order punching delays and how B2B Ordering App can save you from delays. It is not exactly about paper vs online, but about the losses caused by slow and inefficient processes.
Why Order Punching Delays Are Bad For Your Business
Order fulfillment is the important part of a wholesale business. If that goes wrong, everything goes wrong. Delays affect all the aspects of your business and cause a lot of problems. Some of them are:
- Cash-flow issue: Delay in shipment causes delay in payment. Not getting paid on time causes financial problems, which affects day-to-day operations.
- Cargo Value Reduces: Perishable products will be ruined due to delays.
- Extra Expenditure: You might have to pay port storage charges due to delays.
- Unhappy Customers: It is the biggest problem of all. Everyone wants their package to be delivered as soon as possible. If you will cause delay in delivery, your customer will choose a faster vendor.
What Causes Shipment Delays
There are many reasons that cause shipment delays. Mentioning some of them below:
- Paper Ordering: Paper orders are recreated several times before the final signature. It is not just time consuming, but also leaves a very large scope for errors; and even small errors can cause serious losses in wholesale business. Some companies are still using fax, which has a very high possibility of error, as it gives blurry text. You might enjoy writing orders on the paper but you could have saved all this time by putting the orders directly online. Hence, this saved time would have resulted in faster order fulfilment.
- Customs Hold-ups: Incorrect cargo declaration and mistakes in documentation can lead to your shipments being kept on hold for inspection. Online systems can help avoid such issues by streamlining all the documentation mandatory for the shipping of the order.
How Online B2B Ordering App Can Save You From Delays
- The online order is written using software app on an electronic device like smartphone, tablet, etc, which helps the customer immediately approve and sign the order.
- Online order entry software is in direct sync with the ERP. So, the sales rep can instantly confirm inventory availability and delivery dates. As all the required details and documents are processed instantly, fulfilment starts the same day.
- Customer receives a confirmation email/text and later receives all the updates of the transit, until the cargo is received.
- If cargo details are being printed directly from the order, there are lesser chances of mistakes, as compared to writing by hand.
- Technology can share the shipping schedule with your freight forwarder, customs agent, transport providers, and other partners automatically. Hence, no delays or extra charges due to late or lost documentation.
Faster order fulfilment means more orders. It not only increases your cash flow, but also makes your employees happy, as they get to make more commissions. Some customers appreciate well-stocked shelves, faster order fulfilment builds trust resulting in re-ordering. It saves money to keep an existing customer, rather than acquiring a new one.
Even online ordering app may have its own blockages given the software you have and how well your team is using it. Therefore, regular audits must take place to ensure that unnecessary steps in the process are eliminated. Sometimes, you might face a situation like – “But that’s the way we do it.” You must understand that sometimes we have to let the traditional ways go, or else we might lose our position in the market. Hopefully, this blog will help you save costs and increase the cash-flow in the upcoming days.