Unleash the Power of Shopify & NetSuite for Unbeatable Ecommerce Growth

Introduction

Shopify is a great platform for online retail. It has allowed online retailers to launch and scale their business with ease and access global markets, generate revenue, expand their brand awareness, and make their vision a reality. Many retailers have seen tremendous growth within their business over the past few years with the big boom in online retail. More and more consumers are on devices shopping products online.

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Operating a streamlined back office for an online retail business can be very challenging.

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Here are the 5 key challenges for managing back office operations which online retailers should overcome to manage growth and scale:

1. Increase in transaction volumes and impact on banking & reconciliation:

Many retailers have seen a tremendous increase in transaction volumes jumping to 1000+ of orders a day. This means that all the bank accounts linked with sales and purchasing need to be reconciled and matched through transactions in the accounting system. Often there are fees and charges on the bank statements from merchants that needs to be matched and attributed to the GL. This may become a huge exercise for the back office finance staff and increase cost and delays.

2. Managing Deliveries and fulfillments:

With the increase in Orders, retailers have to streamline their delivery processes to meet customer expectations on ETAs. Often Orders need to be exported from online ecommerce stores e.g Shopify into the order management and delivery systems to release stock so the orders can be picked, packed and shipped on time. Many retailers use 3PLs to mange delivers and getting information to and from them can be quite important as deliveries need to be tracked against the orders and reported to the customer in Shopify to provide complete visibility. Integrating data from your warehouse to your online tracking system and displaying the status of orders shipped is going to improve your customer trust in your service and manage expectations.

3. Growth in Warehousing and maintaining stock reporting:

With the increase in deliveries, often there is big pressure on the warehousing team where stock needs to be managed and maintained and And track stock movements to provide the most up to date view of the inventory. The online store needs accurate stock information everyday to sell additional product to consumers. Stock takes and Cycle counts are frequent. Any returns coming into the warehouse will need to managed and stock levels accurately maintained.

4. Track stock and business profitability:

Often retailers are importing goods directly from overseas suppliers and item costing is an important aspect to maintain inventory and assess the impact of landed costs on goods sold. To maintain accurate costing,  freight bills need to be imported and split up into duty, freight, insurance and surcharges applied to inventory received. This process can be a very administrative finance function and relies heavily on accurate stock information (weight, volume, pricing as often data has to be pro-rated to work out shipment cost) and impact on COGs reporting and the PNL. Without an integrated systems that links Good Received and Freight Invoices its hard to achieve this reporting in real-time.

5. Cash Impact on Purchasing:

Retail companies needs to continuously procure goods and place orders with their suppliers to manage incoming stock and make payments. A high growth business needs accurate reporting on the cashflow impact on purchasing and overhead commitments to run a business. Integrated business financials become more and more important to manage smooth running of business operations.

At AVT, we have helped retail companies overcome the above challenges and scale business operations with Online Commerce and ERP software. Our Netsuite platform in is integrated with Shopify, WooCommerce, Magento and other eCommerce platforms, to deliver a 360 degree view of your business operations. We have helped a large number of growing and established retailers to overcome these challenges and future proof their business. To find out more and open a conversation with us please visit Contact AVT Page and request a conversation. If you are already with NetSuite ERP and are looking for a eCommrce Integration, please visit our Shopify NetSuite Celigo Integration Solution.

Oracle NetSuite ERP is a cloud based business platform that provides your business with a complete end to end solution and integrated reporting to run your organisation in a streamlined way. With over 32K customers globally, your business can easily deploy and roll out streamlined processes, prebuilt Dashboards, Reports and KPIs that can help overcome reporting and operational challenges you are facing today and align your business to meet future needs. Using the APIs, you can easily integrate your ERP data with 3rd Party systems and reduce your data entry administration.

New to NetSuite?

To learn more, AVT – Australia’s Leading NetSuite Solution Provider & Partner has created a complimentary NetSuite ERP Evaluation micro-site to help executives learn more about ERP and its deployment, using pre-recorded process demo videos, White papers and data sheets, so you may evaluate this at your own pace. You can gain access to to the site by completing your Registration in the link: NetSuite Overview Demos.