The global wholesale market has seen exponential growth with a 49,488 billion U.S. dollars in 2023 approximately and it is expected to grow around 53,017 billion U.S. dollars in 2024 as well with a compound annual growth rate (CAGR) of 7.1%. This shows that the wholesale market is surging with big numbers every year and with technical advancement, automation solutions are also emerging to facilitate related operations. One such solution is QuickBooks Online which has the capability to effectively automate your B2B e-commerce workflow.
Automation is becoming crucial because manual processing tasks lag behind with this fast-paced world’s requirements. In this blog, we will be going to discuss various automation strategies to implement using B2B e-commerce QuickBooks online integration.
Understanding The Benefits Of Automation
Before diving into specific automation techniques it is important to understand the basic benefits of automation. First of all, automation directly enhances the efficiency of operations by eliminating the need for manual data processing and entry and repetitive tasks. It helps organizations to save time and resources affiliated with manual operations. With the help of automation, your team can put more focus on more strategic activities that might enhance business efficiency such as product development or customer relationship management. Besides, automation also ensures the accuracy and integrity of data by preventing human-based errors in data transfer across platforms.
Automation also results in improved customer satisfaction because with it your business can process orders faster, deliver products timely, and automatically generate invoices, all of these with ease and on time. Moreover, automation also offers real-time data on inventory management operations. It facilitates real-time reports on sales trends, inventory levels, customer behavior, etc, ultimately empowering businesses with accurate data for making informed decisions.
Besides, automation also leads organizations to reduce labor costs associated with manual tasks, which can lead to significant cost savings over time thus wholesale QuickBooks Online e-commerce integration leads businesses to sustainable growth.
Automating Key B2B E-commerce Processes With QuickBooks Online
Here is a breakdown of how your business can automate several key processes through wholesale QuickBooks online e-commerce integration.
1. Order management
Automated order import: Eliminate manual data entry by integrating the B2B e-commerce platform with QuickBooks online. Each new order placed on your website will automatically populate within the QBO as a sales order. It will make sure all order details are customer information, product details, and quantities are captured accurately minimizing potential errors.
Automatic inventory management: The inventory tracking capabilities in QuickBooks online facilitate your business to set reorder points for your products. Whenever the inventory is low it can automatically generate purchase orders for the suppliers and make sure you have adequate stock to fulfill the customer orders properly and timely. Promptly leads to mitigating the risk of stockouts and delayed order fulfillment.
Automated back ordering: The B2B e-commerce QuickBooks Online integration enables the implementation of back ordering functionality within your QuickBooks Online settings. When an order is placed for an out-of-stock item, QuickBooks Online can automatically create a backorder. This informs the customer about the expected delivery date and ensures the sale is captured without manual intervention.
2. Payment processing
Automated invoice generation: Upon order fulfillment, QuickBooks Online can automatically generate invoices for your customers. Thus, prevent your team from creating invoices manually and ensure timely invoice deliveries to your customers.
Online payment options: The integration enables secure online payment gateways integrated into the B2B e-commerce platform seamlessly connecting with QuickBooks Online. Customers can easily make secure online payments directly through your website and it will automatically update the sales records within QBO. Precisely, it will help you avoid the need for manual updating of payment information.
Automated payment reminders: Leverage QuickBooks Online’s automated payment reminder functionality to ensure timely payments from your customers. You can also configure QBO to send automated email reminders, it will help you to enhance cash flow.
3. Reporting and analytics
Automated sales reports: Generate automatic sales reports within QuickBooks Online to gain valuable insights into your B2B e-commerce business performance. The reports specifically involve the data for sales trends that compromise factors like product, region, customer segment, etc. These reports help to identify areas for growth in order to optimize marketing strategies.
Inventory performance reports: Automatic inventory performance reports generated by B2B e-commerce QuickBooks online integration are essential to ensure optimal inventory management. As these reports include information regarding inventory turnover, slow-moving products, and potential stockout risk. Ultimately, these reports enable you to make informed decisions to optimize your inventory management strategies.
Customer relationship management (CRM) integration: Integration of QuickBooks Online with a CRM application assists in centralizing customer data. It permits you to identify buying patterns, track customer purchase history as well as validate your personalized marketing campaigns for specific customer segments.
Concluding Remark
Automation of B2B e-commerce workflow with QuickBooks online not only provides you with streamlined operations but also helps you to improve the efficiency and profitability of your B2B wholesale business. With QBO’s built-in automation capabilities and Order Circle’s advanced B2B e-commerce software solution, your team can focus on more strategic activities that will fuel your business growth. So, leverage the power of seamless integration with Order Circle’s expert team. Besides, they also offer wholesale multilingual e-commerce website management solutions to help you become a part of the growing global wholesale economy