For most people, e-commerce is a household word. You probably shop online pretty much every week, or at least once a month.
Nonetheless, if you look at the global picture, e-commerce in 2020 is forecasted to only take up 15.5% of all retail sales worldwide. Less than 1/6th of all of the global retail volume. With a massive estimated $4.13 trillion in e-commerce in 2020, this is just the beginning of its global expansion.
The infrastructure servicing the e-commerce realm has been keeping up with this frantic pace. E-commerce software takes all different shapes and forms. There are e-commerce platforms, inventory control software, payment processing software, point of sale software, and retail management software systems helping e-tailers run successful online shops the world over.
But then there are CRM tools for e-commerce that work as a multiplier of whatever efficiencies the e-commerce software managed to create. This synergy of the Customer Relationship Management system and the e-commerce software solutions is the best thing after sliced bread for e-tailers and we will tell you why.
Before deep-diving into how to best use CRM for e-commerce business, let’s have a quick overview of the industry-specific solutions so that you have a better understanding of the subject as a whole.
Categories of E-Commerce Software Specific to Industry E-commerce Platforms: The Big Boys On The Playground
To start with, the “A” in the e-commerce software’s ABC are e-commerce platforms like Shopify, BigCommerce, WooCommerce, Wix, and more. These are all one-stop shops that usually allow a total newbie to set up an e-commerce website just by following easy YouTube tutorials without much coding skills.
Such e-commerce platforms have an endless list of features that come with a monthly subscription as well as an army of devoted developers, who manufacture plugins to focus on specific functionality.
These e-commerce platforms have proven to be so user-friendly and affordable that many don’t bother creating a custom-made website anymore, preferring this out-of-box solution.
General E-commerce Software: Features & Examples
So, e-commerce software, in its most general meaning, mostly coincides with the e-commerce platforms we have enlisted above. It offers several functions from website design with ready-made templates to inventory management, online payment processing, and sales reporting.
Features of e-commerce software:
Inventory management Returns management Website builder Reviews management Multi-store management
Examples of e-commerce software solutions:
Inventory Control Software: Features & Examples These SaaS solutions are developed specifically to automate all things related to inventory management.
Features of inventory control software:
Inventory tracking Inventory management Barcoding Inventory optimization Reorder management Supplier management SKU/UPC Codes
Examples of inventory control software:
Payment Processing Software: Features & Examples
Payment processing software automates credit card processing for e-commerce and offline retail alike.
Features of payment processing software:
Online payment processing Billing & invoicing Multiple payment gateways POS integration Payment fraud prevention PCI compliance Debit/credit card processing
Examples of payment processing software:
Retail Management Software: Features & Examples
Retail management software enables e-tailers to integrate all the individual systems and solutions into one process with financial reporting, inventory management, and human resources features under one roof.
Features of retail management software:
Employee management Purchase order management Returns management Commission management Loyalty program Merchandise management Mail order
Examples of retail management software:
Now, that you have some idea about the roles and functions ofContinue reading