Even prior to the pandemic, retailers were racing to deploy order management software (OMS) to have a single version of the truth for their inventory and customer information. COVID-19 has only sped the process according to this research study titled The Order Management Software Market.
Retailers are racing to compete with Amazon and Walmart. To do so they must get to a single version of the truth on customers so that their stores become an advantage. They must turn their stores into a competitive advantage and they must be able to fulfill orders from anywhere. To do so they are investing heavily in Enterprise Order Management. In fact, the Enterprise Order Management system is the core for retail going forward. Having that single order management system that allows for shipping from the warehouse, pick up at the store, or simply traditional store fulfillment is key to not only surviving but thriving in the future.
This study reviews the trends and barriers around reaching this goal of a single order management system, the painful process of removing silos, and the goal of using stores and their locations as their competitive advantage. This research looks at the top vendors in this area, the size of the market, and the positioning of those vendors. It is designed for retailers and vendors that are looking to move to the central order management process.
One of the most exciting developments that retailers are currently embracing is Unified Commerce. We define Unified Commerce as the holistic technology stack that provides one version of the truth for data pertaining to customers, products, pricing and sourcing, that in turn enables the procurement, sale and delivery of merchandise independent of channel. Those solutions that fit within the Unified Commerce umbrella are showing extremely healthy adoption moving forward across a broad range of retail segments and tiers. In retailer discussions, the main reasons given include cost savings and more seamless data flow (for both the retailer and the consumer).
The view is that in the next five years, the most successful retailers will embrace the concept of Unified Commerce wholeheartedly. The foundation for a successful Unified Commerce strategy is a highly capable and configurable enterprise order management system (EOM) that is able to look at orders independent of the originating order channel. EOM with being linked with the five key technology pillars consisting of Store/POS, E-Commerce, Sales/Marketing/CRM, Merchandising/SCM and BI/Analytics, resulting in the figure shown to the right. OMS will be the natural extension of key Point-of-Sale (POS) functionality such as enterprise inventory visibility, ordering from other stores, the return of online purchases, ship from store, order online from the POS, click and collect, and store to store transfer. The broad functionality required by OMS is extended even further when one considers the additional permutations for ordering and return brought by online and phone/catalog sales.
According to the research, the greatest growth is coming for SaaS solutions, noting revenue growth that is expected to grow 308% through 2024. The study sizes the market, forecasts the opportunity by retail segment, and evaluates the market strength and position of top vendors.
Key Topics Covered:
- Introduction and Key Definitions
- Retail OMS Market Overview
- Trends, Drivers and Barriers
- Vendor Positioning Maps
- Leading OMS Vendors & Differentiators
- Vendor Profiles
- Jagged Peak
- NEXTEP Systems
- Symphony RetailAI
For more information about this report visit https://www.researchandmarkets.com/r/lwk4bm