06 Jul Invest in Orders
Creating and processing orders can be daunting for both retailers and suppliers. It is labor intensive, costly and time consuming. Retailers in the natural product industry are plagued with a fragmented network of suppliers with hundreds of points of distribution. Suppliers are confronted with managing thousands of orders from hundreds of retailers, all through different sources. Automating orders electronically is an easy way to address these issues, saving both retailers and suppliers time and money.
Electronic ordering is a critical consideration for retailers and suppliers to compete in today’s marketplace. Most retailers are now ordering in multiple ways: through a POS system, using a third party such as GeniusCentral, or with numerous supplier ordering apps. BUYiQ, GeniusCentral’s multi-vendor ordering software, offers a single simple solution to the time consuming task of creating and sending orders. This product was built in conjunction with our retail partners and continues to be updated based on their feedback to fit the needs of the marketplace. BUYiQ will have all the trusted features that are in ScanGenius, but is accessible through a number of recommended mobile devices that run Safari, Chrome or Android browsers.
With BUYiQ, submitting an electronic order to ALL of your desired suppliers with one device is easy. Open your BUYiQ account, scan, review your order by supplier and submit to BuyingGenius. Orders are then parsed out and sent to their respective supplier. Order confirmations, shipping notifications and electronic invoices from capable suppliers are posted in the retailer’s account at mygeniuscentral.com. There is no need to switch back and forth between other supplier ordering apps or websites trying to see orders that were placed. All orders are placed on one site, with access to stored order history from various suppliers. Using BUYiQ to order saves time and effort with a single solution. Our latest survey indicated, on average, retailers were saving 15 hours a week per department per order, which could result in a savings of $150 per department order placed*.
Suppliers can greatly benefit from automating the order process as well. Receiving orders from thousands of different retailers, all in different formats can lead to unnecessary time consumption. This can add up to thousands of dollars over the course of a year. Not to mention, manually entering orders is plagued with entry errors in quantity, wrong product or dollar amounts. These errors can be very costly. The time lost correcting these mistakes is time that could be spent on the phone upselling product and providing customer service.
Automating orders through GeniusCentral is fairly simple to implement. We have the ability to received order and invoice documents via EDI, XML, web services, FTP and other formats. Benefits from automating orders in one of these formats include consistency, improved efficiency, reduced errors, faster order cycles, improved transparency and decreased costs. Decreasing operational costs will drive incremental revenue and give the opportunity for your customer service team to be much more productive.
Did you know a supplier can spend anywhere from $6 – $8 to enter each purchase order? This cost does not account for the errors resulting in lost product, cost, margin or time. Many studies show that the actual average cost of processing a single purchase order could be as much as $10-$20 depending on the type of business. Business can save 62% in order processing costs if they just automate that one process. GeniusCentral has helped many suppliers implement electronic ordering through our network of over 2100 retailers.
Retailers and suppliers are choosing to invest in electronic ordering by upgrading their systems and purchasing technology solutions to decrease long term cost. Those savings can be put back into your business. For more information, contact us at 800.360.2231 or Click Here
*The $150 savings was calculated by using a single employee making $10/hour ordering in a wellness department.