Magento ERP: How to Optimize Important Data and Workflow
Magento® 2 ERP allows merchants to have stores that function as efficiently as possible. Stores that have been fully integrated with different management, analytics, and reporting tools and they are keeping up with the newest technologies. If you want to know about Magento ERP and how to have a stronger foundation with your online store, keep reading!
Briefly About ERP
Magento 2 ERP integration technology allows business owners to collect data that relates to their business. This is needed to have a store that works for business profit. With Magento ERP you will collect the following data:
- Inventory information
- And so on.
When your data is managed efficiently, you can make more informed business decisions. ERP allows you to keep up with everything that’s happening within your eCommerce store.
According to a survey by Boston Retail Partners, while not everyone has been initiated to the world of ERP, 73% of merchants want to have a unified store by the time 2019 ends. If you work in the eCommerce field, you may want to consider unifying your ERP with your eCommerce store.
Why Integrate ERP with Your Online Store?
You may be wondering how ERP can benefit you, especially if you’ve been doing well until this point. Still, you should consider integrating ERP with your online store and below you will find the exact reasons why to use it for your store.
Simplicity of Operations
By integrating ERP, you’ll be able to make the whole process easier on you and your business because you can find all of your data in the same place. Not only this, but you only have to organize your data in your ERP. You don’t have to edit your prices on multiple platforms; you can edit your prices and manage your products in your ERP.
Importance of ERP for Small and Big Businesses
Small businesses may not want to do things outside of Magento. If you have a small business, you’ll be happy to know that Magento has plenty of resources for you to use within the platform. Smaller businesses may want to stick with using easy ERP for order & customer management, and product management.
In comparison, bigger businesses and enterprises will use ERP for more processes; for example, order, product and customer management, procurement, pricing, and invoicing.
Benefits of Magento ERP Integration
Magento ERP Integration has a number of advantages for any business owner.
Availability of Integration
The good news about Magento ERP Integration is that it has high availability. There’s a countless number of extensions and add-ons that you can use. Since Magento is an open-source platform, you can customize your store any way you want.
Magento ERP allows you to use SOAP API v1, v2, XML-RPC, REST, and XMLConnect. Magento API demonstrates one of the platform’s main priorities: connectivity.
By using Magento ERP, your store will be able to scale up easily. In doing so, you’ll find that your site can manage traffic better and your customers will have better experiences, overall.
Where is ERP Used?
Now that you know all about the benefits of using ERP, you can learn a little about where ERP is used.
Best Retail ERP System
ERP is essential for retail because it allows merchants to maximize profits. When merchants use ERP for retail, they can maintain updates in real-time regarding product stocks and product demands. Having an ERP system that can do this is essential for anyone who wants to have a business that runs smoothly.
Microsoft provides ERP software that is targeted to midsize and enterprise businesses; however, NetSuite and Epicor also provide efficient ERP systems.
No matter if you’re using Magento, Shopify, or WooCommerce, it’s important to have a fully-fledged integration between the frontend and the backend of your ERP.
Merchants feel the need to use Magento eCommerce integration with eCommerce because errors can arise when data is being entered into ERP manually. This integration is effective because merchants see an improvement in inventory synchronization and data duplication. While there is speculation as to what the best ERP for eCommerce is, Magento has plenty of suitable options on the market.
The major benefit of using Magento accounting integration is that employees and merchants can view pricing information in real-time. If you’re looking for integration options, Aphix has two software – WebShop and SalesRep.
This software allows your systems to communicate efficiently and seamlessly. You won’t have to manually enter your data to different systems; not only this, but you’ll be saving valuable time that you can dedicate toward other aspects of your business
When customers use ERP software, they can observe the following:
- Less time spent on manual entry
- Synchronized inventories
- Product changes and easier to complete
Magento ERP Extention: Solutions
The great thing about using Magento ERP is how many solutions there are! Here, we’ve listed some of our favorites.
Oracle is better for larger businesses. According to the site, Oracle aims to find a balance between flexibility and IT data. This extension will allow you to manage your business’s expenses and analytics with ease.
With this extension, SAP allows Magento users to have on-premise ERP software. Not only this, but it provides service in over 35 languages and provides merchants with information about their business in real-time.
If you have a smaller business, you might consider using Sage Integration. That’s because this extension allows small businesses to edit their merchandise through their ERP in order to keep up with their store.
When you integrate both NetSuite and Magento, you’ll have a more dependable store. You can count on your inventory to have the right numbers and you’ll be able to apply intelligent procurement to your store.
When you use NetSuite and Magento Integration, you’ll spend less time on logistics and you’ll have more time to prioritize your customers. You’ll also be able to import your shipments between NetSuite and Magento.
Epicor claims to help merchants make better decisions because of their analytics systems. By using this software, merchants can build better relationships with their clients and can manage their projects more efficiently.
Epicor allows merchants to integrate inbound cash receipts, real-time inventory updates, and shipment exports.
Among the many benefits of using Magento ERP integration, you can expect to experience the following:
- Seamless product updates in real-time
- Inventory updates in real-time
- Increase in productivity due to the reduced amount of manual entry needed
- Efficient order management