Business owners do not want to think about returns and refunds, and for good reason. Not only can processing high numbers of product returns and refunds become extremely time consuming, but it can be very costly as well. In order to effectively reduce the number of returns and refunds your business experiences, efficient inventory software is essential.
How Can Inventory Software Decrease the Number of Returns and Refunds My Company Experiences?
There are a number of ways that inventory software can be an effective tool in the reduction of returns and refunds that your company encounters.
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Customer Portal: Inventory software offers a customer portal that enables your customers to view your inventory in real time so that they are aware of the availability of your product. This allows them to make more accurate choices about the amount of their purchases, reducing the chances of them needing to return overstocked items. Additionally, your customers will have access to B2B online order forms which eliminate ordering errors; product images and details that enable them to carefully evaluate your products before their order is ever placed; and they can even view their own order history which allows them to view products they have previously ordered to ensure compatibility with items they may be considering. Once your customers' orders are placed, they will have the ability to examine detailed information regarding their purchases to ensure accuracy and completeness.
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Automated Warehouse Integration: With automated warehouse integration, your customers won't have to worry about human data entry errors or miscommunication. Since effective inventory management software not only submits order information directly to QuickBooks, but to your warehouse as well, every aspect of your customers' orders are streamlined which helps to ensure the accuracy of each shipment. Additionally, with warehouse integration, your customers and sales staff have real time access to accurate product availability so that they never order more than what is available, decreasing the chances of partial shipments that might be returned.
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Sales Representative Portal: An extensive and efficient sales representative portal is essential in reducing the number of returns and refunds that your company encounters as well. Effective inventory software contains a portal that is specifically designed to help your sales reps assist your customers with their orders, product information, and any questions they might have. Since your sales staff will have access to customer order histories, detailed product data, real time warehouse inventory and product availability, customer specific pricing and detailed order information, the risk of your customers placing orders for items that might later be returned is significantly reduced.
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Better Communication: We all know that communication is key when it comes to customer satisfaction, and effective inventory software is an excellent tool for ensuring clear communication between you and your customers. Since your management team, your sales staff, and your customers all have real time access to your database regardless of their location as long as they have an internet connection, you can rest assured that your customers' needs are met accurately and in a timely manner. In addition, you can elect settings within your inventory software that ensures that a sales person is notified in the event that an ordering error has been made or an incomplete order has been received.
If you are concerned about the number of returns and refunds that your business is experiencing, inventory software can be an effective tool to help ensure that your customers receive the products they want in the amounts they want, and in a timely manner. In order for inventory software to be efficient, however, it is vital that the inventory management software you choose has the capability to integrate with QuickBooks. Integration with QuickBooks will ensure that the entire ordering process is streamlined, from the moment your customers begin searching for the products they desire to the moment that they receive their shipments.
