What is Magento ERP?
Enterprise Resource Planning system that handles essential processes that take place in the online business. It gives control over multiple functions in the business units and stores the data in a database securely.
The Magento Development Company can help you in integrating a platform that can manage:
- Shipping and fulfillment
- Payment and invoice
- Products and variations
They may offer some advanced capabilities like order modification, bulk purchases, multiple currencies, and many more. Integrating ERP systems on your e-commerce website can help in improving data visibility and accuracy.
Things to know before integrating Magento into ERP system
Know the important data of your website: The owner should be clear about what portion of data they want to incorporate into the ERP. The product information, orders, inventory details, or more. Magento Development Services can help you in listing the important section as it needs to be aligned with the business goal.
Time limit and triggers: Beware of the timings that are applied to certain tasks like transactions and shipping products. The data flow between an ERP system and the Magento platform should be handled accurately to avoid any issue. Such as the triggers should only be active after the ERP system has verified the earlier process. For example, once the consumer makes an order the transaction page should be displayed after the ERP system has verified the data correctly.
The stored information is updated on the website: The ERP system will be generating the tracking number and process shipping details, it is very important to get this information in your Magento store. You can use this information to draft emails or share the relevant data with the customers.
Core functionalities in the platform: Even if the ERM platform comes with so many features make sure to know them and if they are beneficial for your e-commerce store. The owner must have a list of basic requirements like inventory management, order-related data handling, and offer business intelligence features to improve the store performance.
Search for an integration partner: This section is important because if the Magento store and ERP system are not aligned properly may result in mismanagement of the database that holds all the necessary information about the order process and customers.
Advantage of Integrating ERP with Magento
Productivity: The main goal of ERP is to handle complex tasks so that the employees can easily handle the e-commerce store. This automates the core business process and increases productivity.
Save Money: Invest one-time in the ERP system and it will handle all the complex tasks for you. The sellers should know about the functions and features of an ERP system to make the best use of their investments.
Save Time: The business data is not entered twice in both the systems instead it flows seamlessly. The workflow is bidirectional as the ERP system takes the customer’s data while the payments and orders are done in Magneto then send the relevant information to ERP. This saves the time that the owner has to spend on tracking the order details, product availability, and more.
Better Customer Experience: The Magento-ERP ecosystem handles the inventory, order fulfillment, and shipping process. These three are directly dependent to decide the customer experience. An organized way of completing the order can be done with the help of the ERP system. If the customers do not face any issues from the moment the product is ordered to it’s delivery, they will definitely return to avail more services.
Visibility of inventory: This lets you decide if you have a stock that needs to be sold early before it gets expired or takes any other steps on the products available in the inventory. You can easily decide the discounts or sales by seeing the availability of products.
Customer Support: The data flow is seamless in the Magento-ERM environment that means the store owner and customers can regularly track the orders.
Better Agility: The ERM features ensure that operations are performed efficiently and data is updated in real-time. It has many features that increase the agility of the e-commerce store.
The Basic Modules of an E-Commerce store that can be handled using ERP
Financial Management: Get a report of the cash inflow and outflow in the Magento store. This can help in monitoring the expenditures, manage taxes, and maintain a balance sheet.
Customer Relation Management: The ERP helps in tracking the customer activities on your platform. This can help in knowing more about their inquiries, past interactions, and interests that can be used to personalize some things in the platform based on their interest.
Human Resource Management: The basic functionalities of HRM tools are maintaining timesheets, employee records, time tracker, skills matrix, and more. This helps in looking at the performance review and manage the payroll system.
Supply Chain Management: The ERP system can handle the flow of products from production to customers. This includes giving user-friendly returns, easily purchasing products, and automating the entire supply chain.
Marketing: The ERP system can efficiently automate processes like sales inquiries and orders, quotations, invoices, and other related things.
Manufacturing: The ERP with a Magento store can improve product planning, daily monitoring, forecasting, and material sourcing processes of manufacturing. Managing these processes can ensure that you never fail to complete any order or complete the customer’s requirements.
Inventory management: Easily measure the inventory goals and stock targets in the organization. The ERP and Magento store works together to make the process of tracking and locating the products easy and faster.
Integrating the ERP system with the Magento platform unlocks great features and drives the great opportunity for the business owner. Hire a professional Magento Development Company to get a streamlined data workflow in the Magento store and ERP system. We believe in giving the best services and ensure to achieve all your business goals in an efficient way. Let us discuss all your requirements and expectations from the Magento store, we ensure to work on them with experts. Contact us now to take the benefit of our services and resources.