With the busy Christmas period once again drawn to a close and a new year now underway, many businesses will be beginning to look at key areas where they need to invest in order to help drive growth, sales and increased profitability. Certainly within the OrderWise family, our customers are already beginning to use our new Business Intelligence module to highlight areas where they have under-performed or fallen short over the past 12 months and begun to plot out where improvements need to be made. But the big question is outside of fixing individual business problems, what are the key drivers for business growth and where exactly do companies need to be investing their money in 2015?
Well earlier this month, a number of surveyors asked leading retailers and smaller traders where they will be investing over the coming months. The results that were obtained by these studies highlighted a number of key areas which the majority of retailers agree will be the key to expansion in 2015.
95% Say Replacing Old Systems and Ensuring Systems Talk To Each Other
In law firm TLT’s Retail Growth Strategies Report 2015, 57% of the leading retailers questioned said technology was a key driver for growth and sales. More specifically, 69% of respondents stated new websites as important investment areas, while 61% mentioned improving IT systems. However possibly the biggest indication from the study of where retailers will be investing in 2015 comes from the fact that 51% said they will be replacing old systems and 44% cited they will be ensuring that different systems talk to each other.
With technology constantly moving forward, keeping up with the latest benefits offered and ensuring all systems are continually updated should be a top priority for any business looking to stay ahead of their competitors. In addition, the fact leading retailers say ensuring that different systems are able to communicate with each other is unsurprising as this brings huge benefits. By simply having full business visibility and eliminating the need to rekey information, companies can save huge amounts of time and money.
With our cutting edge software, businesses can eliminate the need for many separate system and applications, as scalable and modular system OrderWise can provide one central business solution tailored to each company’s needs. With each of our modules designed to manage all key areas of daily operations including stock control, sales order processing, purchasing, despatch, goods in and much more, as well as full integration with popular online channels and accounts systems such as Sage and Quickbooks, businesses are provided with a fully integrated, end-to-end business management solution. In addition to this, our comprehensive Support & Upgrades packages come with up to 12 updates a year. This means you can rest-assured that your investment won’t become outdated because as we push our software forward with development, your business receives the benefits of the very latest enhancements.
63% of Online Retailers Plan To Increase The Number of Channels Through Which They Trade
However upgrading IT systems isn’t the only key area where businesses will be looking to spend money in 2015. A separate study conducted by Royal Mail found that creating a better website presence was also a top priority, clearly showing that retailers are continuing to try and satisfy customer demands in an increasingly global marketplace.
In fact the results of Royal Mail’s annual tracker study found that a majority of 63% of small and medium sized UK online retailers are planning to increase the number of channels they trade through in 2015 to grow sales. Furthermore, 24% of online retailers plan to start using online marketplaces to increase profitability, with eBay and Amazon the favoured options. Some retailers are also looking to expand their business offline, with another 21% planning to open a shop and 16% planning to take space in a store to sell their goods.
When looking for ways to effectively manage multi-channel trading, businesses need to look no further than OrderWise, with seamless integration with a wide-variety of web shop providers and online marketplaces, watch our video here for an overview of our multi-channel credentials.
By automatically downloading sales orders, updating despatch notifications, synchronising stock levels and prices across all of your online sales channels along with a range of other possible actions, the need for time consuming manual interaction is completely eliminated. Whether your business deals solely with online sales or also sells through more traditional channels, OrderWise provides one central, streamlined system that means your customers are kept informed with up to date information and all orders despatched both quickly and accurately.
Drive Customer Satisfaction and Control Returns with OrderWise
The final trend found within the Royal Mail’s annual tracker study was that on-time delivery came top of the rankings for factors driving customer satisfaction, with the price of goods coming second and the quality of the product was ranked third.
However UK online retailers are also gradually recognising the importance of a structured returns process in stimulating customer satisfaction. In fact, 27% of online retailers questioned by Royal Mail stated they will be simplifying their returns process in 2015.
When it comes to delivering goods to customers on schedule, OrderWise has extensive functionality that has been specially built to serve that purpose. From our industry-leading Mobile Warehouse Management Devices designed to achieve rapid picking speeds to our Despatch Goods In feature aimed at swift order turnaround, OrderWise ensures customer delivery is always handled quickly and effectively.
With integration to leading courier providers such as Royal Mail, Hermes, Parcel Force, MetaPack, TNT, UK Mail, DHL, FedEx, UPS and more also available, businesses can use OrderWise to provide a fast, accurate despatch operation that exceeds customer expectations.
However if your business is looking for a structured method of handling returns processes, then OrderWise Returns is the solution. Tailored to meet the requirements and policies of the business, this module enables companies to ensure returns are kept simple, with costs minimised, high customer service levels maintained and all appropriate actions and subsequent documentation managed in an accurate, streamlined and efficient manner.
The One System You Need For This Year & Every Year
So whether your business is looking to expand sales channels, stay ahead of competitors by investing in a fully integrated business management system, drive customer satisfaction by improving delivery speeds, simplify returns or indeed all of the above, OrderWise can provide the perfect solution for your business to achieve growth and increased profitability in 2015 and future years ahead.
For more information about OrderWise, watch our video or download the brochure.
Existing Customers can visit the OrderWise Online Shop.
To discuss your requirements in more detail contact us today on 01522 704083.